foreign exchange rates « Forex How to

September 9, 2009

Foreign exchange rates

Which are the sites from where we can daily Forex rates in India?

I am mainly interested in getting latest rates of USD vs Indian Rupee

Answer

www.eforexindia.com

Best forex brokers and trading platforms ?

What is the best platform to trade real forex? I mean, considering most of the features, like if its trading software is good, if it’s reliable, if the money transfer of deposit and withdrawen is fast, if it’s convenient to do trading with it, if the support is fast and effective, and so on and so on.

Is there any good platform support Paypal or has european bank account?

Thank you for informations. I’m planning to do real trade, but first only with a mini account.

Answer

there are several forex trading platforms! every platform has some + or – !

here you can read some reviews:

http://www.squidoo.com/Best-Forex-Tradin…

Source(s):

http://best-forex-trading-platforms.blog…

Commodity Futures and Forex Interest Rates What’s the Difference?

I have been trading commodity contracts for about a year and have done good for myself. However, I have been considering trading forex as well. I know that interest rates affect the forex markets depeding on the pairs traded.

Additionally, I know that interest rates affect weather you receive/payout on certain pairs, however, im not sure with rate drives this.

Also, I came across an excellent blog post regarding

the bond futures market http://www.aarontrade.com/commodityfuturestrading/?p=25

Are forex interest rates affected by this 30 year rate or something else? If bond futures do enter a long-term bear market how does this affect forex interest rates?

Thanks for any potential help

Ryan

Answer

Definitely interest rates (plus other things) affect foreign exchange levels. The thing is you need to look at both countries interest rates. If you’re trading US Dollar vs Canadian Dollar, you need to look at US and Canadian rates.

If one of the two countries (say the US) raises it’s rates, some people will move their money into that countries currency (USD) and that currency should strengthen.

If you’re trading forex futures you should look at the interest rates in the two countries around the time of your future’s expiry. I.e. if you’re trading a future that expires in 3 Months, you should look at the 3 month interest rates in both countries (so you could look at the interest rates of bonds maturing in 3 months, or cash deposit rates for 3 months).

I.e. I believe you will find that the price for a USD->CAD forex future expiring 3 months from now is the current USD->CAD fx spot price (1.13) + (USD 3M rate – CAD 3M rate)*3/12. Which would end up giving you something like 113.2 .

Source(s):

http://www.bloomberg.com/markets/currenc…

Is traveling to poor countries with a favorable foreign exchange rate morally objectionable?

I was in Bangkok recently, and at my hotel there was a big sign saying “No Sex Tourists”. This is important because Bangkok has a lot of sex tourists, and most of the hotels look the other way. But not my hotel. They were adamently against the whole idea of prostitution in Bangkok, and the sign explained why in a long list of reasons.

I found one of the reasons very surprising. It said that it is morally reprehensible for westerners to come to Thailand in order to buy sex, given that foreign exchange rates are favorable to westerners, and as a result it is much cheaper to buy sex in Thailand than in their home countries.

Clearly, one can find many legitimate reasons to argue against prostitution. But is this one of them?

It strikes me that westerners in Thailand are not just benefiting from the ForEx rates for buying sex. They are benefiting every time they spend money in Thailand, whether its for food or hotel or anything else. Is that morally wrong? Are they “taking advantage”?

Answer

There is nothing wrong in paying for sex provided you’re not ripping the girl off. Selling sex is legal in many countries, including here in Australia. It’s a business transaction and provided both parties are happy then there is nothing wrong.

As for the exchange rate, nothing wrong in getting the best deal for your money. The Thai government loves sex tourists and the economy could collapse without them.

By the way, which hotel was it? I’ve been to BKK on business many times and I’ve never seen such a sign – and I stay in pretty classy hotels.

Best place for foreign exchange in London?

I have £85 in cash to exchange for Rands before I go back to South Africa tomorrow. I am in Ascot, Greater London. Which will give me the most Rands? Consider rates and fees.

The Post-office,

A travel agent,

Foreign exchange in the city,

Foreign exchange at Heathrow airport?

Thanks

Michael

Answer

The Post Office will almost certainly give you the best rate.Foreign exchange offices in town give poor rates and charge lots of commission, and don’t touch airport foreign exchange facilities – their rates are abysmal.

Best foreign exchange in chennai?

Hi,

I am coming back to chennai from Singapore.

I need to convert some SGD in to Indian Rupees.

Can anybody tell me who offers the best foreign exchange rates in Chennai?

Answer

Avoid State Bank of India and hotels. Convert small amounts at a time through small money changers found throughout the city and shopping malls like Spencer’s Plaza. After 1 or 2 enquiries, you can form your own opinion.

Why the forex rates are fluctuating day by day ?

Answer

Due to global increase in trade and foreign investments

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