Moreover, currency trading is only allowed in 7 pairs, namely: USD/INR, EUR/INR, JPY/INR, GBP/INR, EUR/USD, GBP/USD, and USD/JPY. Forex trading is facilitated on 3 exchanges in India, namely the NSE, BSE, and the Metropolitan Stock Exchange of India Ltd and is regulated jointly by both SEBI and RBI.
Is INR traded in forex?
Currency trading in India is allowed in the following pairs only: (USD/INR); (EUR/INR); (JPY/INR);(GBP/INR); (EUR/USD); (GBP/USD) and (USD/JPY). Forex trading is facilitated on the National Stock Exchange (NSE), Bombay Stock Exchange (BSE) ɪmp; Metropolitan Stock Exchange of India Ltd.
Which currency is best for forex trading in India?
United States dollar\n\n It is the world's primary reserve currency and is held by most central banks and commercial banks globally. Because of its widespread adoption, the US dollar also accounts for around 88.3% of daily trades in the foreign exchange market.