On this article well be learning about the trading operations in indian currency marketfor the beginners ill try to keep things simple here will not complicate this article with detailed core informations regarding currency market here. The reserve bank of india on thursday allowed exchanges to offer cross currency futures contracts and exchange traded currency options in three more currency pairs.
In fact only four currency pairs can be legally traded in india.
Currency trading pairs in india. This research i did long time back before i lost my money in forex. So far all currency pairs are bench marked against the indian rupee inr. All currency trading is done in pairs.
Very often banks and financial trading institutions engage in the act of currency trading. The us dollar is on one side of 87 of global forex trading around the world. This has an inherent disadvantage if you want to trade international pairs.
Forex trading with inr pair is legal in india and other pairs are illegal. Hdfc bank does inr pair only. Beginnerssimple guide to forexcurrency trading in india currency trading basics forex basics forex trading basics latest currency prices indian.
Currency trading is the act of buying and selling international currencies. The indian rupee is the official currency and the legal tender of the country and it is ! illegal for indian citizens to transact in any other currencie! s while they are in india. Unlike the stock market where you can buy or sell a single stock you have to buy one currency and sell another currency in the forex market.
More than 50 of global forex volumes consist of the 3 big global currency pairs which will soon be launched in india. Well it turns out that it is half way legal and that trading currencies is allowed if the traded currency pair includes the inr indian rupee. Fundamentals of forexcurrency trading.
Indian forex traders are not supposed to indulge in any currency pairs that does not involve the inr as the base or quote currency.
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