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CME follows Ice into rupee futures

The US exchange giants are battling it out to become the first major international exchange to list futures on the Indian currency

CME Group, operator of the world's largest currency futures franchise, has become the second US exchange to announce plans to list futures contracts on the rupee, amid rising demand from firms with operations on the subcontinent for hedges on the Indian currency.

CME announced plans to offer rupee futures contract after the US market closed on Tuesday, setting January 28 as the launch date.

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