Lot many of us have similar qusetion
– Does the News, affect the forex market
– Along with technical analysis fundamental analysis is important
– Reserve bank of India decided to cut in the CRR cash reserve repo rate by 0.25%, with unchanged Repo rate and reserve repo rate reference (RBI_ WebSite)
– This it cuts the GDP, economic growth of india from 6.5 to 5.8
– Causing depression in currency value
– Gave a chance to USD to take control once again
– Once Newyork strom stop then we will keep eyes on how the share trading market in Newyork goes, this will decide major Trend in market.
– Understand the RBI terminology that affects Indian Currency Market
is the rate at which banks borrow money from RBI in case they are short of funds, while
Reverse Repo Rate
is the rate of interest banks get when they park their surplus funds with the central bank.
CRR, on the other hand is the liquid cash that banks need to keep with the RBI to meet any emergency cash requirement and the central bank does not pay any interest to banks on this money.
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