Dubai Volumes on the Dubai Gold and Commodities Exchange (DGCX) in March surged 141 per cent from the previous year to 550,735 contracts, the highest ever monthly volumes achieved.
DGCX announced yesterday that year-to-date volumes saw a jump of 126 per cent from 2011 to 1,545,899 contracts at the end of March, while average daily volume increased 152 per cent from last year to 25,033 contracts.
A 197 per cent year-on-year rise in currency volumes was behind much of the volume growth in March, the exchange said in a statement, with the Indian rupee a standout performer among currency futures, achieving its highest ever monthly volume of 495,153 contracts in March, a rise of 257 per cent from last year.
Meanwhile, Australian dollar futures grew 24 per cent from last year to 2,150 contracts. Sterling/dollar and dollar/yen futures grew 69 per cent and 96 per cent respectively.
"DGCX's performance in March has been driven by the exchange's initiatives to catalyse liquidity and volume growth in its contracts," said Ahmad Bin Sulayem, Chairman of DGCX.
