Did USD lost value or INR gained value in yesterday's FX trading? The debate will be on several novices' mind but the truth is-God only knows!
However, yesterday's drop in USD value vs INR cost me a few thousands. I wonder how many people in India gained because of that sharp decline in values. Actually I was expecting the other way round and was waiting to see USD touch Rs.52.
Forex market is where trading in currencies of various countries are speculated. Unlike bullion market or equities market, where there are serious investments, I feel Forex market is more speculative.
India now joins the leading Forex markets in Tokyo, London and New York. The most heavily traded currencies are the United States dollar, Australian dollar, the Swiss franc, the British pound sterling, the Japanese yen and the Euro.
I wonder when INR will enter the Forex market of other financial super powers!
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