The first exchange to receive in-principle approval from SEBI was NSE for the starting currency derivative segment. The exchange launched its trading platform on 29th August 2008 by introducing USD-INR Currency futures for trading, and later the Rupee was allowed for trading in against currencies such as Pound sterling-INR, Euro-INR, and the Japanese yen-INR. Currency Options were introduced later in October 2010.

The currency future is a contract for exchanging one currency for another on a specified future date at the exchange rate that is fixed on the date of purchase date. The price of a futures contract on NSE is in terms of INR per unit of other currency, for example, US Dollars. The contracts enable investors to hedge against exchange rate risk. Four pairs Currency Derivatives namely, (USD) US Dollars,(EUR) Euro, (GBP) Great Britain Pound, and (JPY) Japanese Yen are available. Futures & Options Cross Currency contracts on GBP-USD, EUR-USD, and USD-JPY can also be traded in the Currency Derivatives segment.

Further, Options trading on EURINR, GBPINR, and JPYINR was also introduced on February 27, 2018. Cross Currency Futures and Options contracts on GBP-USD, EUR-USD, and USD-JPY are also introduced on February 27, 2018.

Currency Derivatives segment of NSE provides trading in derivative instruments on four currency pairs, Cross Currency Futures & Options on three currency pairs and Interest Rate Futures on 10 Y GS and 91D T-Bill.

The automated screen-based trading by NSE is a fully computerized and modern trading system designed to offer investors across the country, a safe and easy way to invest. The NSE trading system (NEAT) 'National Exchange for Automated Trading' being a screen-based fully automated trading system, where the principle of an order-driven market is adopted.