09 April 1999
Pepper exchange introduces dollar futures
THE International Pepper Exchange will introduce dollar-denominated futures trading in another four months, reports the Financial Times.
The change is expected to reinvigorate the exchange which was founded a year ago in the southern Indian state of Kerala.
The switch to dollars is being made in the face of criticism by foreign trading houses who say trading in local currencies incurs a foreign exchange risk.
- Financial Times 09/04/99 page 30