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US DOLLAR / INDIAN RUPEE Trading
The USD/INR currency pair has become very popular and liquid the last few years. In fact, under the governorship of Dr. Raghuram Rajan, the RBI became a strong player in the forex market, especially in the USD/INR option. The USD/INR is a fairly liquid pair and is possible to get quotes both ways with minimal risk.
History of USD INR Trading
The USD dates back to 1792, when the United States Congress created the US dollar as the official country’s currency. It serves as legal tender in many countries, and it is the most widely used currency in the world both in circulation and reserve. The US dollar form the majors as it pairs with all main currencies in the foreign exchange market (forex). The Indian rupee is the οfficial currency οf India. It’s roots traces back to ancient India in 6th centurey bce, when India was one of the earliest issuers of coins globally, along with the Lydian staters and the Chinese wen. Today the Indian rupee (INR) is amοng the mοst stable currencies in the Asia-Pacific in 2021. It became popular due to India’s strong foreign exchange reserves and higher foreign direct investment inflows.
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USD/INR Trading FAQs
When Is the Best Time to Trade USD/INR?
When Is the Best Time to Trade USD/INR?
While forex pairs can theoretically be traded 24 hours a day, there are optimum times to trade the USD/INR whenever the currency pair is more volatile. From 09:00 to 15:30 GMT., the USD/INR is usually busy (GMT).
What affects USD/INR investing?
What affects USD/INR investing?
Many factors can affect the USD/INR market sentiment and spot rates, such as central banks policies, the price of commodities in each country, exports of both countries, economic growth, and political stability.
Why Is the USD/INR Currency Pair Significant to Traders?
Why Is the USD/INR Currency Pair Significant to Traders?
The USD/INR pair is based on the transparent market mechanism which makes it a lot more preferable for individual traders with limited access to infromation and insights. In fact, like your normal equity or F&O trading screen, you can log into your trading terminal and see the best 5 buy and sell quotes with volumes that reduces information asymmetry substantially.
Where Can I Find a Trusted Forex Broker to Trade USD/INR?
Where Can I Find a Trusted Forex Broker to Trade USD/INR?
As you may already know, trading via CFDs (contracts for difference) is one of the most popular approaches when dealing with currencies such as USD and KRW. While there are numerous Forex brokers out there. Try to find one that suits your needs. Such as FP Markets, a fully regulated broker that offers all types of platforms and accounts, to suit every need.