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The global increase in trade and foreign investments has led to inter-connection
of many national economies. This and the resulting fluctuations in exchange rates,
has created a huge international market for Forex rendering investors another exciting
avenue for trading. The Forex market offers unmatched potential for profitable trading
in any market condition or any stage of the business cycle.
Indian Forex Market
In terms of daily turnover in 2010, India is the 16th largest market in the world.
India’s market share in World FX Market increased from 0.1 % in 1998 to 0.9% in
2010. As per Latest RBI Data, Daily FX Indian Market volumes are $50 Billion in
2009.
Indian Currency Futures Market – Present Status
Currency Futures Trading was launched in India on 29th August, 2008 on NSE. NSE
& MCX’SX are the major 2 exchanges presently. “United Stock Exchange of India” is
the upcoming exchange promoted by Bank of India, Federal Bank, MMTC & Jaypee Capital
along with 9 other banks. The FX market in India is regulated by The Foreign Exchange
Management Act, 1999 or FEMA, Presently Daily Turnover on both exchanges averages
Rs. 35000 crores. Banks are active participants on the exchanges. NRIs & FIIs are
not permitted to trade as of now. Currency markets offer investors a step into the
world of Forex. The global increase in trade and foreign investments has led to
inter-connection of many national economies. This and the resulting fluctuations
in exchange rates, has created a huge international market for Forex rendering investors
another exciting avenue for trading. The Forex market offers unmatched potential
for profitable trading in any market condition or any stage of the business cycle.
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