Indian rupees on offshore trading likely to increase domestic trading time

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Mumbai, Ta. 18 September 2019, Wednesday

The dollar was hovering sharply against the rupee in the Mumbai currency market today, and as it was written, the eyes of the currency market were on the Federal Reserve meeting in the US.

According to the latest survey by the Bank for International Settlements, the average daily trading volume in the Indian rupee in the UK has risen to $ 1.8 billion in April.

In India, such figures are averaging $ 1.8 billion daily volume. Currency trading in the off-shore market was astonishing to the players of the currency market. In off-shore trading, dollar-denominated non-deliverable forward trades have increased six-fold in three years. In Britain, such trades have increased fivefold so far, counting from 5. In the 5th, such trade used to be $ 1.8 billion on a daily basis.

Globally, the rise in rupee volume has had an impact on the volatility of the domestic currency market, which seems worrying. Apart from Britain, the trading volume of rupee has increased in Singapore, Hong Kong and the US currency market. Onshore trading in India, efforts are also being made to increase the time of such trading at home.


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