Indian Rupee/U.S. Dollar (INR/USD) Futures

Solid growth prospects, attractive demographics, stable debt ratios and increasing currency reserves, which rose from $326 billion in early 2016 to $337 billion in early 2017, coupled with a 142% increase in the U.S. dollar/Indian rupee cross over the last 10 years*, confirm that India is on the upswing and that the market is increasing its participation in the Indian growth story.

At CME Group, this momentum is reflected in our INR/USD futures contract – which reached new records of 3,343 lots traded in March 2017, surpassing a previous high of 2,598 in February 2017.

The increasing success of INR/USD futures is driven by more participants and the ability for market participants to manage associated asset class risk impacting the value of the rupee – from Gold, to WTI to the Nifty, all on CME Group exchanges.

Furthermore, the compelling margin offsets available, 35% saving with AUD (1:1 ratio) and 25% savings with S&P 500 (1:4 ratio), create an attractive and efficient solution for the uncleared margin rule changes now affecting the market along with the netting and standardisation of collateral solutions available at CME Group. 

*2016 BIS Triannual survey

Be Part of the Trend and Trade Cash-Settled Indian Rupee Futures at CME Group

Available Now on the Platform You Want

CME Globex: SIR Bloomberg: SIRA Reuters: 0#SRI:

Powered by CME Globex

Bringing together market participants and their liquidity, from pension funds to banks, from hedge funds to corporates, from more than 150 countries nearly 24 hours a day, ready for market-impacting events.

Transact with Flexibility

Choose a block or an EFRP where you can still privately negotiate your trades, but submit them directly into our clearing systems to free up credit lines and mitigate bilateral exposure – whether you are trading in India or anywhere else in the world.

Reduce Risk and Manage Uncleared Margin Rule Changes

Through position-netting and by utilizing the capital and margin efficiencies of cleared and listed FX: 91 futures, 24 options, 26 CSFs and 12 NDFs

Get Connected to the World’s Largest Regulated FX Marketplace

$85 billion of daily FX volume and the firm liquidity you need to manage FX risk, from rupee to rand.

CME Group INR/USD FX Futures

Contract Specs

Contract Unit 5,000,000 Indian rupees
Minimum Price Fluctuation 0.01 U.S. cents per 100 INR increments ($5.00/tick). Also, trades can occur in 0.005 U.S. cents per 100 INR increments ($2.50/contract) for INR futures intra currency spreads executed on CME Globex®.
Price Quotation U.S. Cents per 100 Indian Rupees
(e.g., 182.75 / 182.79 U.S. Cents per 100 Indian Rupees)
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m.
Product Code CME Globex: SIR
CME ClearPort: SIR
Clearing: SIR
Listed Contracts 12 consecutive calendar months (Jan, Feb, Mar, May, Jun, Jul, Aug, Sep, Oct, Dec) plus 4 March quarterly months (2-year maturity range)
Settlement Procedures INR/USD Settlement Procedures
Termination Of Trading Trading terminates at 12:00 noon Mumbai time two Indian business days immediately preceding the last Indian business day of the contact month.
Position Limits CME Position Limits
Exchange Rulebook CME 279
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Settlement Method Financially Settled