The FX market is one of the largest markets for any financial instrument. With trillions of dollars exchanging hands every day, it is no surprise that multiple forex brokers are looking to get a share of this action. The only problem with the large influx of new traders is that they need to exchange their rupees into foreign currencies and trade them for an asset in another country. Most brokers have several forex trading pairs that these traders can use to facilitate this process.
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US Dollar/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the US dollar against the Indian rupee. The USDINR market is one of the most popular and active markets. Being one of the world’s largest economies, it is no surprise that traders want to get in on the action by investing in both directions for this pair. more article can be read on clickenquete
Euro/Indian Rupee
The EURINR pair is an alternative buy and sell an option to the standard USD/INR currency pair. It works exactly like its more famous counterpart but offers traders slightly different opportunities because of its liquidity, making it ideal for day-traders and scalpers. Most traders prefer using this pair because it is not subject to the USD/INR pair market fluctuations.
British Pound/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the British pound against the Indian rupee. The GBPINR market has slightly less liquidity than its Euro counterpart but is very popular among Indian forex traders. This popularity lies in how close these two countries are, geographically and culturally speaking, allowing for easier access to both markets through each other’s currencies, making them ideal for investments.
Japanese Yen/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the Japanese yen against the Indian rupee. The JPYINR market is not as popular among Indian traders because of the lack of easy access to either market.
Australian Dollar/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the Aussie dollar against the Indian rupee. The AUDINR market has slightly less liquidity than its Yen counterpart but is very popular among Indian forex traders. The reason lies in how close these two countries are geographically and culturally speaking, allowing for easier access to both markets through each other’s currencies, making them ideal for investments.
Canadian Dollar/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the Canadian dollar against the Indian rupee. The CAD INR market is not as popular among Indian traders because of the lack of easy access to either market.
Swiss Franc/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the Swiss franc against the Indian rupee. The CHF INR market is not as popular among Indian traders because of the lack of easy access to either market.
New Zealand Dollar/Indian Rupee
This trading pair allows traders to take a long or short position on the value of NZD against the Indian rupee. The NZD INR market is not as popular among Indian traders because of the lack of easy access to either market.
Danish Krone/Indian Rupee
This trading pair allows traders to take a long or short position on the value of the Danish krone against the Indian rupee. The DKKINR pair is not as popular among Indian traders because of the lack of easy access to either market.
Euro/British Pound
This trading pair allows traders to take a long or short position on the value of the Euro against the British pound. The EURGBP pair works exactly like its more famous counterparts but offers traders slightly different opportunities because of its liquidity which makes it ideal for day-traders and scalpers. Most traders prefer using this pair because of its better liquidity, allowing them to make quick returns if they can catch the market right.
