Indian authorities are under pressure to allow the introduction of domestic FX futures following the recent launch of rupee-denominated FX contracts on Dubai Gold and Commodities Exchange (DGCX). However, sources in India believe progress may be slow as a result of the continuing fear of speculation in the country’s currency.DGCX listed its rupee/dollar contract – the first ever future based on the Indian currency – on 7 June (see FO Week 01/06/07). Trading in the early stages has...