A decision by the Reserve Bank of India to guard against weakness in the rupee has caused listed and over-the-counter derivatives to differ in price, and reduced futures volumes, according to Sanjit Prasad of MCX-SX. "The measures have had a very negative impact on the currency futures market," Prasad said. "... Hedgers have started questioning the sanctity of the price in the futures market and that has played a big role in checking our growth in terms of volumes and open interest."

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