Indian Binary Traders Likely to Experience Low Value of Rupee Against Dollar

The Indian Currency

The inflation inside the country has been contained to some extent but the currency shows no sign of recovery. It is true that it has recovered a bit from its lowest ever value, but the overall condition is not good at all. During the first two days of 2013 Rupee recovered a bit against the Dollar but in the latest trade it dropped by 33paise against Dollar and stopped at 54.83.

The Future of the Indian Currency

RuppeRupee is likely to remain in more or less the same position throughout 2013. The budget of the Indian Government for the financial year 2013-2014 is shortly going to be announced. But it is unlikely that the budget will be able to give a boost to the Indian currency. However, with inflation slowly fading away it seems that the Indian economy is coming back on track though a complete recovery is far away. Till then Rupee has to struggle in the market.

Experts’ Opinion

Though market experts are not willing to arrive at any firm conclusion right now, they are of the opinion that Indian binary traders are going to experience a low value of Rupee throughout 2013. The global economy is not yet back on track. There is also some uncertainty regarding the US budget talks. All these factors combined are leading binary traders towards Dollar, the safe currency in tense situations. As a result not only Rupee, but all major currencies are likely to exhibit a fall against Dollar.

It is true that the US Fiscal Cliff has been averted giving a huge relief to binary traders, at least for the time being. But the global economy is far from achieving a complete recovery. Though Greece has managed to find a way out of the debt crisis, there is enough probability that the implementation of those strategies are going to earn the wrath of the general public thus giving rise to new uncertainties.

In her New Year speech, the German Chancellor has stated that crumbling European economy may badly affect Germany that has managed to stay strong so far. So, binary traders should avoid being driven by speculations and whims in order to maintain profit in volatile market conditions. They should keep a close watch on the ever changing market situations in order to take the right decision at the right time.

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