21012022 Hyderabad FTCCI:
- Are you a Fintech StartUp
- Planning global expansion
- What do you mean by Forex Risk Management Policy
- How wise are you on Forex Fluctuations
- What are the global economic challenges in the new normal
Today’s innovators need to plan cautiously during the new normal that is yet to set in and will take concrete shape subject to prevalence of the endemic. The Federation of Telangana Chambers of Commerce and Industry (FTCCI) that relentlessly works for the benefit of the entrepreneurs of the state conducted a Webinar on “Global Economic Outlook and Hedging Forex Risk” on Thursday (20012022). The press note released in this regards is given below.
“Nifty Bank index ranks 1st and Nifty 50 index ranks 2nd globally within the index options category by number of contracts traded. The US dollar- Indian Rupee options contract ranks 1st by number of contracts traded in the currency options category” – Abhishek Goud, Sr Manager, NSE
FTCCI in partnership with National Stock Exchange and ICICI Bank organized a Webinar on “Global Economic Outlook and Hedging Forex Risk”
Key Speakers Abhishek Goud, Sr. Manager, National Stock Exchange, Shivom Chakravarti, Senior Economist, Economic Research Group, ICICI Bank, Arpan Jain, Team Lead, Market Group, Corporate Markets, ICICI Bank. in the presence of Anil Agarwal, Senior Vice President, Meela Jayadev, Vice President, K.K. Maheshwari, Chair, Capital Market & Investor’s Protection Committee, Premchand Kankaria, Chair, Banking, Finance and Insurance Committee, Khyati Naravane, CEO, FTCCI.
Abhishek Goud, Sr. Manager, National Stock Exchange said the index options contract on Nifty Bank index ranks 1st and Nifty 50 index ranks 2nd globally within the index options category by number of contracts traded. The US dollar- Indian Rupee options contract ranks 1st by number of contracts traded in the currency options category
The year 2021 witnessed total registered investor base on NSE surpassing the 5 crore mark to reach a count of 5.5 crore investors. Foreign portfolio investors brought in net inflows in equities for the 3rd consecutive calendar year- Rupees 1, 01,122 crores in 2019, Rs 1,70,262 crores in 2020 and Rs 25,752 crores in 2021. Foreign exchange is a very dynamic factor which impacts a business’s cash flows.
Hedging and Managing Forex fluctuations help enterprises to protect the benchmark rate. The entities need to have a Forex Risk Management Policy to take wise hedging decisions. He also stated that, NSE’s Currency derivatives platform provides standardized contracts, aided with fast on boarding and high price transparency. Currently the contracts are available in USDINR, EURINR, GBPINR and JPYINR for the participants on the exchange platform.
Shivom Chakravarti, Senior Economist, Economic Research Group, ICICI Bank covered the current economic situations of various economies across the globe. They also covered the growth projections, inflation and the likely monetary policy trajectory of various countries in the year ahead. Shared the economic challenges and the currency forecast on major economies. It touched upon the various hedging strategies used by corporates and the hedging product available to companies to hedge the foreign exchange risk on the OTC market.
The synergies of International Trade and Interdependence of Global Economies is well explained by Anil Agarwal, Senior Vice President, FTCCI by citing the ongoing Semi conductor shortage and its resolution, by working collaboratively with various countries. He further said, that the FOREX market is the largest and most liquid in the world, with a daily volume of $6.6 trillion, according to the 2019 Triennial Central Bank Survey of FX and OTC derivatives markets.
However, KK Maheshwari, Chair, Capital Market & Investor’s Protection Committee, FTCCI has deliberated that the global economy is expected to grow at 4.1% for 2022 as per the latest Global economic outlook by the World Bank. Moreover, he has portrayed the growth of international trade and Forex currencies exchange and state that it is of prime importance to understand various tools and methodology of hedging for covering the Forex risks.
The program was concluded with a motivating deliberation from Premchand Kankaria, Chair, Banking, Finance and Insurance Committee, FTCCI mentioned that the participants needs to be inquisitive to learn the largest financial market in the world – larger even than the stock market, which is operating 24X7 globally
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