Chinese, Indian Currency ETNs Launch [View article]
well, the rupee floats freely although their central bank keeps intervening infrequently. i doubt these are based on futures market, since the only rupee futures market is in dubai which is outside india and illiquid; while the yuan does not have a futures market. most likely they would be tied to forwards or swap rates (not futures), which is probably also why the interest accrual will be in US fed fund rates.
Chinese, Indian Currency ETNs Launch [View article]