LONDON, March 12 (Reuters) - Standard & Poor's said on
Wednesday it has launched two real-time indices to track Chinese
and Indian non-deliverable forward currency contracts.
The ratings agency said its Chinese Renminbi Index and
Indian Rupee Index would provide investors with exposure to the
two emerging economic giants that lack a liquid currency futures
market.
The indices will replicate the performance of the Chinese
and Indian currencies against the U.S. dollar, representing the
performance of a rolling investment in three-month,
non-deliverable, forward currency contracts.
S&P said the two indices are the first in a series of
real-time currency indices it plans to launch this year.
(Reporting by Sebastian Tong, editing by David
Christian-Edwards)
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Keywords: S&P CURRENCY/