MUMBAI (Reuters) – After long failing to act on foreign investor complaints, Indian policy makers find themselves in an ironic bind: As global interest in Indian derivatives surges, it is Singapore, not Mumbai, that is reaping the benefits.

In a turnaround from past years, more stock futures and options based on Nifty are traded in Singapore than India. Billions of dollars in rupee derivatives traded from the city state nearly equal the amount of spot currency traded in India. Deals in Indian debt derivatives are close to volumes in Indian markets.

MUMBAI (Reuters) – After long failing to act on foreign investor complaints, Indian policy makers find themselves in an ironic bind: As global interest in Indian derivatives surges, it is Singapore, not Mumbai, that is reaping the benefits.

In a turnaround from past years, more stock futures and options based on India’s main NSE share index .NSEI are traded in Singapore than India. Billions of dollars in rupee derivatives traded from the city state nearly equal the amount of spot currency traded in India. Deals in Indian debt derivatives are close to volumes in Indian markets.

MUMBAI (Reuters) – The rupee notched up its biggest single-day gain in three weeks on Friday boosted by inflows delayed by a strike that curtailed trading over the last couple of sessions, but investors were jittery ahead of the crucial 2013/14 budget next week.

Investors are focusing on the budget, which will be keenly watched to see how Finance Minister P. Chidambaram balances the tightrope walk between fiscal discipline and populist spending ahead of elections in 2014.

MUMBAI, Feb 22 (Reuters) – The rupee notched up its biggest
single-day gain in three weeks on Friday boosted by inflows
delayed by a strike that curtailed trading over the last couple
of sessions, but investors were jittery ahead of the crucial
2013/14 budget next week.

Investors are focusing on the federal budget, which will be
keenly watched to see how Finance Minister P. Chidambaram
balances the tightrope walk between fiscal discipline and
populist spending ahead of elections in 2014.

MUMBAI (Reuters) – The rupee fell its most in one-and-a-half months on Thursday as global risk aversion pushed local stocks sharply lower, with the currency awaiting cues from the federal budget next week.

Global risk assets were pummelled as world share markets fell and the dollar and safe-haven assets rose, a day after minutes of the Federal Reserve’s last policy meeting cast doubts over how much longer the U.S. central bank would stick to its stimulus plan.

MUMBAI, Feb 21 (Reuters) – The Indian rupee fell its most in
one-and-a-half months on Thursday as global risk aversion pushed
local stocks sharply lower, with the currency awaiting cues from
the federal budget next week.

Global risk assets were pummelled as world share markets
fell and the dollar and safe-haven assets rose, a day after
minutes of the Federal Reserve’s last policy meeting cast doubts
over how much longer the U.S. central bank would stick to its
stimulus plan.

MUMBAI (Reuters) – The rupee gained its most in two weeks on Wednesday, largely aided by inflows related to a debt auction, with volumes remaining low as most state-run banks were thinly staffed due to a strike.

Dealers said the gain was due to foreign funds buying rupees to participate in a debt-limit sale for foreigners, which they need to subscribe to for buying local debt.

MUMBAI, Feb 20 (Reuters) – The Indian rupee gained its most
in two weeks on Wednesday, largely aided by inflows related to a
debt auction, with volumes remaining low as most state-run banks
were thinly staffed due to a strike.

Dealers said the gain was due to foreign funds buying rupees
to participate in a debt-limit sale for foreigners, which they
need to subscribe to for buying local debt.

MUMBAI (Reuters) – The rupee came off one-month lows to end higher on Monday, as late inflows related to foreign funds selling dollars outweighed demand from oil importers and weak Asian currencies which were weighed down by continued worries about the potential for competitive devaluations.

Flows are expected to determine near-term movements as investors wait for the 2013/14 budget to be unveiled on February 28.

MUMBAI, Feb 18 (Reuters) – The rupee came off one-month lows
to end higher on Monday, as late inflows related to foreign
funds selling dollars outweighed demand from oil importers and
weak Asian currencies which were weighed down by continued
worries about the potential for competitive devaluations.

Flows are expected to determine near-term movements as
investors wait for the 2013/14 budget to be unveiled on Feb. 28.