please help me understand indian currency system

#1
hello,

I am quite new to trading and have always been fascinated by India as a country. I wish I will have the chance to visit India someday.

I am based in EUR so I'd like to understand more about indian currency system.

I understand the main index is called NIFTY 50 and almost everybody here trade futures and options with NIFTY as underlying.

Can I trade NIFTY futures and options from europe?

How do you hedge your currency agaist USD or EUR?

The thing is, because I love India, I would rather quit trading the DAX or S&P 500 and move to NIFTY.

I would love to visit the NES oneday. By the way, where is it?

Thanks ever so much!
 
#2
welcome to traderji bro. Well as far as Nse in concerned its in new delhi. For trading nse from europe u need to have an nri account. The next query about hedging against currency, i dont do any kind of hedging against currency variation.
 

SexyTrader

Well-Known Member
#3
hello,

I am quite new to trading and have always been fascinated by India as a country. I wish I will have the chance to visit India someday.

I am based in EUR so I'd like to understand more about indian currency system.

I understand the main index is called NIFTY 50 and almost everybody here trade futures and options with NIFTY as underlying.

Can I trade NIFTY futures and options from europe?

How do you hedge your currency agaist USD or EUR?

The thing is, because I love India, I would rather quit trading the DAX or S&P 500 and move to NIFTY.

I would love to visit the NES oneday. By the way, where is it?

Thanks ever so much!
PROUD Indians like me...love India too :thumb:

NIFTY is a lot more volatile than the DAX or S&P500...hence makes good trades with NIFTY Futures & Options :thumb: I'm sure you can trade NIFTY from abroad....just ask your broker!

Happy Trading NIFTY just like myself! :thumb:
 
#4
I did a bit of searching about the indian currency. Correct me if I am wrong :)

The international code is INR which stands for Indian Rupees.

1000 Rs is around 15 EUR. As a barman my salary usually is 1500 EUR each month, so 100000 Rs or I should say 1 Lach and should write 1,00,000 :thumb:

1 Crott is 100 times 1 Lach so 1,00,00,000 in EUR that would be 150000 EUR :D

How much does a waiter/barman earn on a monthly basis in India ?

As far as futures and options are concerned, how much is a nifty 50 future? I mean I see the future last close was 4714.00 how much Rs does it take on margin to buy 1 future? I see one Call options last price was 48.00 points how much Rs is that? Are nifty 50 options based on the index ore the future?

Thanks
 
#7
1 nifty lot requires a money of less than 30000 RS. approx 500 euros
If I am not mistake, the multiplier of nifty is 50? So if the index is trading at 4779 the the nominal value is 1 lot x 4779 x 50 = 238950 Rs ?? :confused: Yet, I will need less the 30000 Rs to trade 1 lot so basically the future provides a 1:7 leverage?

Also, I see the the DEC 4700CE is trading at 96/- does that mean 96 x 50 = 4800Rs ?? :confused:

Thanks
 

SavantGarde

Well-Known Member
#8
TAoW

Naah...you don't have to Love our country to Trade NIFTY...:)

There are plenty of Indians who don't Love their country but trade Nifty..!!!

Your understanding of 'Lach' which correctly spelled is Lac or Lakh (Derived From Hindi Language)

Even if you write it as 1,000,000 (One Hundred Thousand It's Perfectly Okay & Acceptable by Banks here...!!!)

Presently, Our Regulations prohibit Foreigners & Non Resident Indians from Trading in The Futures & Options Segment.

But You could trade through some Forex Brokers offering CFDs

By the way need a stiff concoction of Tequila....:)


SG

hello,

I am quite new to trading and have always been fascinated by India as a country. I wish I will have the chance to visit India someday.

I am based in EUR so I'd like to understand more about indian currency system.

I understand the main index is called NIFTY 50 and almost everybody here trade futures and options with NIFTY as underlying.

Can I trade NIFTY futures and options from europe?

How do you hedge your currency agaist USD or EUR?

The thing is, because I love India, I would rather quit trading the DAX or S&P 500 and move to NIFTY.

I would love to visit the NES oneday. By the way, where is it?

Thanks ever so much!
I did a bit of searching about the indian currency. Correct me if I am wrong :)

The international code is INR which stands for Indian Rupees.

1000 Rs is around 15 EUR. As a barman my salary usually is 1500 EUR each month, so 100000 Rs or I should say 1 Lach and should write 1,00,000 :thumb:

1 Crott is 100 times 1 Lach so 1,00,00,000 in EUR that would be 150000 EUR :D

How much does a waiter/barman earn on a monthly basis in India ?

As far as futures and options are concerned, how much is a nifty 50 future? I mean I see the future last close was 4714.00 how much Rs does it take on margin to buy 1 future? I see one Call options last price was 48.00 points how much Rs is that? Are nifty 50 options based on the index ore the future?

Thanks
 
#9


there are plenty of indians who don't love their country but trade nifty..!!!
How is that even possible? :annoyed:

presently, our regulations prohibit foreigners & non resident indians from trading in the futures & options segment.
Well, I think if they allowed foreigners & non resident indians, the market would blast off in liquidity! Imagine all many more traders around the world providing liquidity to the NES :thumb:
 

SavantGarde

Well-Known Member
#10
Foreigners as Individuals are not allowed....but we have very active participation of Hedge Funds & other Institutions here from across the globe.

You don't have to search very far to know that there are Indians who don't like their country present in this forum itself....!!!


SG

How is that even possible? :annoyed:



Well, I think if they allowed foreigners & non resident indians, the market would blast off in liquidity! Imagine all many more traders around the world providing liquidity to the NES :thumb: