NISM Series XIII Common Derivatives Certification Exam Notes

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  • Retail Sales Data: Indicates consumer demand; higher-than-expected strengthens currency.
  • Central Bank Actions: Interest rate changes, interventions, and policy statements impact currency values.
  • Spot vs Forward Market: Spot for immediate settlement; forwards used for hedging future needs.
  • Indian Market Peculiarity: Managed float with active RBI intervention; NDF market also influences price discovery.
  • Impact of Global Events: Domestic currency moves in response to global geopolitical, economic data, and risk appetite.

NISM Common Derivatives

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