Currency Trading: 4 Currency Pairs Available In India 2021

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What is currency trading in India?

A currency futures contract, often referred to as a currency futures contract, is a forward contract that allows you to exchange one currency for another at a fixed price (exchange rate) on the date of purchase. The price of a futures contract is expressed in INR per unit of another currency, such as the US dollar. Currency futures allow investors to hedge against the risk of currency depreciation. The US Dollar (USD), Euro (EUR), British Pound (GBP) and Japanese Yen (JPY) are the four currency pairs on which currency derivatives are available.

In the currency derivatives sector, forward contracts and currency options on EUR-USD, GBP-USD and USD-JPY are also available for trading.

The National Stock Exchange (NSE), Bombay Stock Exchange (BSE) and Metropolitan Stock Exchange of India Ltd all offer foreign exchange trading.

Currency futures are available for all of the following currency and currency pairs, however, currency options are only available for USDINR, EURINR, GBPINR and JPYINR.

USD to INR

USD to INR

The acronym for US Dollar in relation to Indian Rupee is USD / INR. This Asian currency pair is ranked among the developing market currencies. The base currency is the US dollar and the quote currency is the Indian rupee.

The market price defines the value of the Indian rupee against the US dollar. 1 USD = X INR is the exchange rate. So if the market price of USDINR is 71.46, it will cost you around Rs 71 to buy $ 1.

The US dollar is the most widely convertible currency in the world and is frequently used as a benchmark in the Forex market. It is held by virtually all of the world’s central banks as the world’s primary reserve currency. Moreover, since the dollar is the standard currency in the commodity market, it has a direct impact on commodity prices.

US Dollar to Indian Rupee statistics

The last 30 days
High 74.985
Moo 74,081
Mean

74,471

Volatility 0.20%
EUR to INR

EUR to INR

The member countries of the euro area use the euro as their currency. The EUR to USD rate is the most popular euro conversion rate, according to our currency rankings. Euros have the currency code EUR and the currency sign €.

The market price defines the value of the Indian rupee against the euro. 1 Euro = X INR is the exchange rate. So if the market price of EURINR is 88, it will cost you around Rs88 to buy € 1.

Many regions, departments and sovereign entities in the euro area, such as the Azores, the Balearic Islands and the Canary Islands, use the euro. In Cuba, North Korea and Syria, the euro is used as a currency and several currencies are pegged to it.

1 Euro to Indian Rupee statistics

The last 30 days
High 88,528
Moo 87.409
Mean 88,062
Volatility 0.24%
GBP to INR

GBP to INR

GBP is the currency code for British Pound Sterling. £ is the currency symbol. The pound sterling is the oldest currency in the world and one of the most widely convertible currencies. The GBP is linked to the Falkland Islands, Gibraltar and Saint Helena. The Bank of England is the central bank of the United Kingdom. The pound sterling is the third most widely held reserve currency in the world, while it is the fourth most traded currency. The pound sterling is also known as the pound sterling, sterling, quid, cable and nicker.

The market price defines the value of the Indian rupee against the euro. 1 GBP = X INR is the exchange rate. So if the market price of GBPINR is 103, it will cost you around Rs 103 to buy £ 1.

Stats 1 British Pound Sterling to Indian Rupee

The last 30 days
High 103.70
Moo

101.61

Mean 103.01
Volatility 0.30%
JPY to INR

JPY to INR

JPY is the currency code for the Japanese Yen. The currency sign is ¥. The Japanese yen is the third most traded currency in the world and the most traded currency in Asia. The Japanese yen is frequently used to transact with the Australian dollar and the US dollar due to its low interest rates. A carry trade is a strategy of exchanging a currency with a low interest rate for a currency with a higher interest rate.

Statistics of 1 Japanese Yen in Indian Rupee

The last 30 days
High 0.68456
Moo 0.67321
Mean 0.67716
Volatility 0.37%


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