Currency trading, also known as foreign exchange or foreign exchange trading, involves buying and selling currencies from different countries to make a profit. The US Dollar is the most widely traded currency in India, and the other currencies traded are the Euro, Japanese Yen, and British Pound.
The concept of currency transactions is to buy and sell currencies at different prices, selling them at higher prices or buying them back at a lower price. A difference between buying and selling prices, called the spread, is what traders can make a profit on. A better understanding of how to trade currency in India is explained in this guide below. So, let’s read ahead to find out how to trade foreign currency.