Demand for safe investment options stokes up forex trading in India
The growing popularity of international trade and travel has ensured that forex trading is a necessity as well as a dependable investment. People around the world have taken advantage of an increasingly globalized economy to put their money into forex options in the past few years, yielding positive results. Indeed, improving economic conditions have produced a favorable atmosphere for foreign exchange trading.The economic slowdown of the recent years has made people more cautious. Concerns over the viability of available investment options have led investors to mop up foreign currency in the hope that would sell forex in the future for profit. They have not been disappointed so far. The US Dollar, for example, has been strengthening steadily on the back of initiatives by the American government and financial regulators, making those who invested in the currency during the slowdown, richer. Currency analysts predict that the US Dollar will continue to strengthen in the future as well.
The good news for prospective investors is that the US Dollar is not the lone currency gaining in value because of revitalized economies. Forex rates have rarely been so favorable for making investments. The Australian dollar is among the many foreign currencies that have seen their values fall in recent weeks. The reason for this depreciation of the Australian dollar was the drop in activities of a Chinese services index, which is soon expected to pick up. The outlook remains positive and the currencies stand to gain strongly in the next few months. Read about some more Benefits of Forex Trading.
Forex trading in India is picking up speed as successive governments launch favorable initiatives. Currency future exchanges have been established in the country, with the National Stock Exchange (NSE) being the first in the country to be granted approval for setting up the currency derivative segment. It is possible to trade against the Euro, Pound Sterling and the Japanese Yen, besides the US Dollar, at the NSE. Online remittances have been largely instrumental pushing foreign currency into the country. India and China were expected to receive nearly a third of the USD$ 414 billion in remittances to the developing world in 2013.
India also happens to be the fastest-growing outbound travel market in the world. Tourism Australia estimates that the number of outbound tourists from India would leap from 15 million currently to a whopping 50 million in 2020. As a result, tools like the forex borderless prepaid card will get popular. Thomas Cook India is among the clutch of trusted travel partners providing tourists with forex prepaid cards that make their journeys pleasant and entirely tension-free.
