CURRENCY

India’s economy has a strong foothold and is host to several international business giants owing to the market size, scope for innovation and soundness of financial market. India’s robust and stable financial system has gradually transcended from being a highly controlled environment to a more liberalized set-up.

About The Market

Currency futures are traded on platforms offered by exchanges like the NSE, Bombay Stock Exchange (BSE), MCX-SX, and United Stock Exchange (USE).Currency trading hour is 9.00 am to 5.00 pm. There is no cash or equity form like we use in Indian stock market, for trading this currency market. So, you need to open a trading account only with a broker & no need to open a DEMAT account We can only trade future & option segments in currency market.

Risk Management-

Just like most financial tools, currency prices are highly volatile as it is affected by a variety of economic and political conditions. But the most important ones are interest rates, international trade, inflation, and political stability. Governments, through central bank intervention, can participate in the foreign exchange market to influence the value of their currencies. In order to create impact, they either flood the market with their domestic currency to lower the price or buy to raise the price. Large market orders by mammoth corporations can also render the currency trading market in India, unstable. Rise in export earnings of a country increases foreign exchange supply .
If you’re just beginning, open a trading account first with the help of a broker. Research and ask your family members, friends or colleagues to make recommendations based on their experience with firms and choose your broker wisely. Stay up-to-date on the global market trends and you’ll see that currency trading is a lucrative opportunity.