We welcomed a new player in our financial markets, the Global Board of Trade (GBOT), which was launched in October 2010. GBOT is the first international multiasset class tech-centric exchange that offers a basket of commodity and currency derivative products as well as currency pairs. GBOT started with brisk business in its very first days of trading.
We expect that the launch of GBOT will stimulate the forward markets in currencies. One word of caution to those who might be tempted to use this platform for rupee speculation – the Bank is closely monitoring developments in this area. 28.