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Gold July 03, 2020 04:00:31 PM

Dubai Gold and Commodities Exchange Currency Portfolio Posted Robust Performance

Paul Ploumis
ScrapMonster Author
The most notable performers among the pack were British Pound and Yen Futures Contract.

Dubai Gold and Commodities Exchange Currency Portfolio Posted Robust Performance

SEATTLE (Scrap Monster): The Dubai Gold and Commodities Exchange (DGCX) currencies portfolio recorded strong performance, amidst ongoing volatility in foreign exchange market.

ALSO READ: DGCX Partnership Offers Pricing Data for Gold-backed ETF

The news release by the Exchange says that its G6 currencies portfolio witnessed year-on-year volume growth of 265.56% in the month of June this year. The portfolio has recorded a growth of 456.69% during the year-to-date period, upon comparison with the corresponding six-month period in 2019. The most notable performers among the pack were British Pound and Yen Futures Contract, which recorded year-on-year average daily volume growth of 308% and 1010% respectively.

The strong performance comes ahead of the proposed launch of the Exchange’s first FX rolling futures contracts- Euro (EUR), Pound Sterling (GBP) and Australian Dollar (AUD) against the US Dollar (USD), which will be launched on Monday 6 July, 2020. Further to this, it also plans to introduce a Weekly INR Futures Contract against the US dollar (USD) later this month.

Les Male, CEO, DGCX noted that the launch of the new products will boost the growth of the UAE and wider region’s rapidly growing influence and importance in the global FX market.

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