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Many methods have been created to forecast currency price direction, check some of them below. Fundamental Analysis. ... Technical Analysis. ... Relative Economic Strength. ... Econometric Model. ... Purchasing Power Parity (PPP) ... Interest Rate Parity (IRP) ... Balance Payment Theory.

Many of these big players also have institutional contacts that provide explanations about the current events of the day to the viewing public. Reuters. The Wall Street Journal. Bloomberg. MarketWatch.com. CNBC.

Visit the bank in person on a working day to buy the foreign currency you need. HDFC Bank branches have forex services that let you buy foreign cash in 22 major currencies. Go to a forex dealer or travel agent: Similarly, you can buy foreign exchange from your travel agent.

Generally speaking, forex traders can look at economic news to assess its impact on interest rates and monetary policy?. News that suggests a more hawkish (aggressive) central bank tends to push forex pairs up in value relative to other currencies, while dovish (peaceful) news can cause a currency to depreciate.

Rupee rises 4 paise to settle at 83.24 against US dollar At the interbank foreign exchange, the rupee opened at 83.23 and traded in the narrow range of 83.22 to 83.26 against the greenback.

Currency speculation is the act of buying and selling the money of various countries in order to take advantage of fluctuating exchange rates. Some speculators make many transactions each day with one or more currency pairs, while others purchase a large amount of one currency and then hold on to it for a longer time.

There are some factors that form the basis of the different FX rate forecast methods, and these factors are: Government Stability. ... Economic Reports. ... Central Bank Monetary Policy. ... Fundamental Analysis. ... Technical Analysis. ... Relative Economic Strength. ... Econometric Model. ... Purchasing Power Parity (PPP)