4  BIS Review 69/2007  Use of financial derivatives in India A liquid market for forward foreign exchange contracts has existed in India for several decades now. This product is still the main instrument for hedging foreign exchange risk in India, although foreign currency options are also getting increasingly popular.
Our last area of focus is the role of central banks in scaling up green finance. We discuss current practices for incorporating ESG criteria in all areas of central bank operational activities. Against this backdrop, the NGFS will organize the seminar ‘Sustainable & Responsible Investment for central banks’. The event will be hosted here at DNB, on the 21st of September.