Currency futures continued to drive volume on Dubai Gold & Commodities Exchange in August, leading to a 44% year-on-year growth in total transactions at 151,699 contracts.
DGCX traded contracts worth US$ 8.84 billion in August, one of the busiest months for the Exchange in 2009. While trade in all four currency pairs was higher compared with the same period last year, total volume growth was mainly supported by Euro/Dollar and GBP/Dollar futures, which rose by 195% and 327% respectively.
Total currency futures volume increased 330% in August to 88,189 contracts compared with the August 2008. In addition to activity in currencies, DGCX also traded 50,182 gold and 13,311 WTI crude oil futures contracts in August, down 33% and up 43% respectively on 2008.
On August 7, currency futures achieved a record daily high of 7,655 contracts, valued at US $583.86 million. Total transactions for all products also rose to 13,317 contracts on August 12 – the highest daily volume achieved in 2009 and the second highest since the Exchange launched in November 2005.
