The foreign exchange (forex) market is a global and decentralized marketplace where currencies are traded. It is the largest financial market in the world, with a daily trading volume of over US$5 trillion.
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The value of a currency is determined by supply and demand. When there is more demand for a currency than there is supply, the value of the currency will rise. Conversely, when there is more supply of a currency than there is demand, the value of the currency will fall.
The Indian Rupee and the US Dollar
The Indian rupee (INR) is the currency of India. It is the fifteenth most traded currency in the world.
The US dollar (USD) is the currency of the United States. It is the world’s reserve currency and the most traded currency in the world.
The Forex Dollar Rate in India on 04.02.2019
On 04.02.2019, the forex dollar rate in India was 71.12 INR per USD.
This means that it cost 71.12 INR to buy one USD.
Factors Affecting the Forex Dollar Rate
There are a number of factors that can affect the forex dollar rate, including:
- Economic conditions
- Interest rates
- Inflation
- Political events
- Natural disasters
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Tips for Trading Forex
If you are interested in trading forex, there are a few things you should keep in mind:
- Do your research: Before you start trading forex, it is important to understand how the market works and the risks involved.
- Start small: When you are first starting out, it is a good idea to trade with small amounts of money.
- Use stop-loss orders: Stop-loss orders are a way to protect your profits and limit your losses.
- Be patient: Trading forex is not a get-rich-quick scheme. It takes time and effort to become successful.
Frequently Asked Questions (FAQs)
Q: What is the forex market?
A: The forex market is a global and decentralized marketplace where currencies are traded.
Q: What is the value of a currency?
A: The value of a currency is determined by supply and demand.
Q: What is the forex dollar rate?
A: The forex dollar rate is the price of one US dollar in terms of another currency.
Q: What are some factors that can affect the forex dollar rate?
A: Some factors that can affect the forex dollar rate include economic conditions, interest rates, inflation, political events, and natural disasters.
Forex Dollar Rate In 04.02.2019 In India
Conclusion
The forex market is a complex and dynamic market. By understanding the factors that can affect the forex dollar rate, you can make informed decisions about your trading.
Are you interested in trading forex? If so, be sure to do your research and trade with caution.
