Did you know?
RBI permits traders to add 3 cross-currency pairs to the allowed list of assets that may be traded, including GBP-USD, EUR-USD, and USD-JPY
👉 Currency Market Types in India:
1. Needs Forex Trading account linked to your bank
2. Trades primarily in the spot market & futures market
3. Certain limitations on currency transactions
👉 Currency Market in India is driven by
1. Prices fluctuate based on geopolitical factors
2. Central banks have tendency to move Forex markets
3. RBI plays a vital role in the intervention
👉 Sign up for the Indian Currency Market
1. SEBI is responsible for regulation of intermediaries
2. Trade with a broker who is authorized by SEBI
3. Brokers must hold a valid license issued by SEBI
👉 Trading in the Indian Currency Market
1. Make deposits of funds in your account
2. Needs Forex online trading platforms
3. Kick-start the journey with smaller trades
👉 Legalities involved in the Indian Currency Market
1. Trading has not received much encouragement
2. RBI places a range of restrictions
3. INR to be used as a base currency in trading
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Posted On: 08 Dec 2022 8:00 PM
