forex 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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Forex rates

Filed under: Faq — Tags: forex rates — Admin @ 9:16 pm

Where to find best foreign exchange rate to sell dollars in bangalore?

Hi,

I wanted to convert around 1000$ US dollars into INR.

The rupee has recently been surging against dollar ( ~43 rite now i think ).

Can anyone pleaze tell me the bext place in Bangalore to sell US dollars to get maximum return.

Thanks!

Answer

You get the best rate when transferring from one bank to another. Exchanging cash does not get you as good a rate as that. Keep an eye on the exchange rate in www.xe.com and then make the transfer from your overseas bank to Indian bank.

But if you still want to exchange cash, go to a forex dealer, there are many on MG Road for example. There might be people who offer you slightly higher rates, but beware of black marketeers. Go to a valid Bank or Foreign exchange agent. Always take a receipt.

Where can I get the best forex rates for INR (Rs.) to MYR (RM) in Mumbai?

Or after arrival in KL (Malaysia)?

Answer

The Mumbai airport (CSIA) is probably the worst place to get forex when travelling abroad since they not only require photocopies of your passport but also need you to fill the exact same details into a form regardless of the amount involved.

I had converted Rs. 1,000 into RM 63 (Rs 15-16 / RM) last month @ CSIA.

My HDFC credit card gave me about RM 80-81 (Rs 12-13/RM) for every Rs. 1 K during my trip.

The best rates in KL were RM 84 @ Lot10 (Rs 11-12/RM) near JW Marriott and the Ritz Carlton.

Then came KL Sentral with RM 82-83 / Rs. 1 K.

Best of all – no passport required for KL forex transactions!

That’s a variation of almost a third between CSIA & Lot10…

Who determines foreign exchange rates and how are they decided?

Answer

If a currency is free-floating, its exchange rate is allowed to vary against that of other currencies and is determined by the market forces of supply and demand. Exchange rates for such currencies are likely to change almost constantly as quoted on financial markets, mainly by banks, around the world. A movable or adjustable peg system is a system of fixed exchange rates, but with a provision for the devaluation of a currency. For example, between 1994 and 2005, the Chinese yuan renminbi (CNY, ¥) was pegged to the United States dollar at ¥8.2768 to $1. The Chinese were not the only country to do this; from the end of World War II until 1970, Western European countries all maintained fixed exchange rates with the US dollar based on the Bretton Woods system.

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.rbi.org.in

www.centrum.co.in

Where to find best foreign exchange rate to sell dollars in bangalore?

Hi,

I wanted to convert around 1000$ US dollars into INR.

The rupee has recently been surging against dollar ( ~43 rite now i think ).

Can anyone pleaze tell me the bext place in Bangalore to sell US dollars to get maximum return.

Thanks!

Answer

What is a foreign exchange rate? How do foreign exchange rates affect imports and exports?

Pick a country and tell me about the exchange rate of the U.S. dollar versus that country. Has the exchange rate changed recently? Why?

Answer

In finance, the exchange rates (also known as the foreign-exchange rate, forex rate or FX rate) between two currencies specifies how much one currency is worth in terms of the other. For example an exchange rate of 123 Japanese yen (JPY, ¥) to the United States dollar (USD, $) means that JPY 123 is worth the same as USD 1. The foreign exchange market is one of the largest markets in the world. By some estimates, about 2 trillion USD worth of currency changes hands every day.

How can I learn Forex trading withoput spending a ton of money on a program?

Answer

The Forex market is full of scammers and people who sell questionable products than make them rich and not you. I would advise against Forex trading. You are likely to lose your shirt.

Source(s):

http://www.quatloos.com/FOREX.php

http://en.wikipedia.org/wiki/Forex_scams

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