For hedging interest rate risk, we have exchange traded interest rate futures (IRF) and a liquid and vibrant interest rate swaps (IRS) market. The foreign exchange market in India is deep and liquid and is expanding rapidly.
The market facilitates conventional risk management instruments such as forwards, swaps and options and also a few structured products in options to enable economic agents to manage their exposure to the Indian rupee. We have also introduced currency futures and options which enable both hedging and view-taking.