Trading EUR/INR

EUR/INR is the conversion of the euro into the Indian rupee. Historical exchange rate data reveals high volatility, which online traders can capitalise on to turn a profit. Utilising a forecast graph and watching the news may also improve strategy predictions. Our article will get you up to speed on the history of the EUR vs INR and how the live rate looks today, plus tips for technical chart analysis and trading futures with the EUR/INR.

EUR/INR Trading Brokers

Forex.com are a leading forex broker. Offering the largest range of currency pairs (80+) and some of the tightest spreads in the industry.
NinjaTrader offer Traders Futures and Forex trading. Use Auto-trade algorithmic strategies and configure your own trading platform, and trade at the lowest costs.
eToro is a multi-asset platform which offers both investing in stocks and cryptoassets, as well as trading CFDs.
The leading US trading Exchange. Nadex offer genuine exchange trading to US clients on Binary Options. Fully regulated by the CFTC.
Trade on a handful of the most traded currency pairs with leverage.
Use digital options to take straightforward buy and sell positions on a range of currencies.
Trade with leverage on the FX market.
Trade on FX pairs with 1:500 leverage.
Just2Trade offer hitech trading on stocks and options with some of the lowest prices in the industry
Zulutrade provide multiple automation and copy trading options across forex, indices, stocks, cryptocurrency and commodities markets
IB Boast a huge market share of global trading. With a minimum deposit of $10,000 however, they remain an option for larger traders only.
One of the largest discount brokers in the US, with a fixed trading commission and access to a large array of trading products and securities
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Chart

Pros Of trading EUR/INR

  • Volatility – EUR/INR historical data indicates the buy-sell rate on this pair is particularly volatile. This can be profitable with close observations of live price charts, where expert investors can detect a trend and make projections to get the best spot rate.
  • Data availability – Modern traders have access to essentially all EURO into INR price history. Traders can find a chart for the last 5 or 10 years, or look at data from last week or yesterday to gauge variation. All this online information helps EUR/INR investors make an accurate forecast for the short and long term.
  • Automated live trading – Software that allows investors to automatically execute orders is now more affordable. These programs monitor the current EUR/INR rate in real-time and can relieve traders of complicated technical analysis, like working out monthly averages from candlestick charts.

Risks Of Trading EUR/INR

  • Excess volatility – The EUR to INR currency pair is notable for its wide swings in buying and selling prices, and the live exchange rate today can be extremely different from yesterday. This volatility can make it difficult for beginners to predict the upcoming rate and also impacts other investment vehicles such as futures prices.
  • Liquidity – As an exotic pair, the level at which EUR/INR is traded in the currency market varies. As such, the volume of live trading may be low compared to major pairs and this could result in high bid-ask spreads.
  • Reduced leverage – Brokers that have exotic pairs like EUR/INR commonly offer lower leverage on these assets compared to more established currency sets, as movement is often greater.

Factors Affecting EUR/INR Price

Many factors can cause the EUR to INR daily chart or weekly forecast to change. Some influences may cause a forward premium situation to occur, in which the expected future price is higher than current spot rates.

  • Central bank policy – The EUR/INR exchange rate is primarily affected by the European Central Bank (ECB) and Reserve Bank of India (RBI) reference rate.
  • GBP growth rate – Gross domestic product (GDP) measures the economic health of a country. GDP performance and outlook will affect the rate seen on a EUR/INR investing chart, as currency values are majorly impacted by the size and performance of economies.
  • Political stability – Political actions often have consequences for the EUR to INR value. Traders hoping to profit from this pair should view the latest news and remain alert to the political landscape.

Linked Currency Pairs

Traders may choose to use previous data like a EUR/INR rate history chart or long-term forecasts to inform their strategy. Another option for generating a EUR to INR prediction for 2021 and beyond is to consider the effect of correlated currency pairs. These are currencies that demonstrate price changes in line with each other – positively correlated pairs display movement in the same direction while negatively correlated currencies move in the opposite direction.

  • USD/INR – This pair tends to move in the same direction as the EUR/NR, based on yearly chart analysis
  • GBP/INR – EUR/INR is also positively correlated to this currency pair

EUR/INR Day Trading Strategy

Trading Hours

Knowing when to trade EUR/INR is crucial for achieving high profit margins. The National Stock Exchange of India (NSE) is open for trading 9 am – 5 pm India Standard Time, which corresponds to 3:30 am – 11:30 am GMT. This time frame is when the pair will be most liquid and bid-ask spreads will be lower.

Brokers

Traders should check their broker offers the pair before opening an account. EUR to INR is being offered more frequently by large brokers along with a range of powerful analysis tools, charts, lot sizes, indicators and automated trading features. Some providers also offer services for how to convert EUR to INR.

Check out our list of the best forex brokers which includes names like Oanda.

Data & Forecasting

Many investors focus on analysing present currency data – monitoring a EUR vs INR live chart is vital when opening and closing trades. However traders can also rely on past information, e.g. year-long graphs or the trend over the last five years. Utilising as much financial data as possible is key to making a strong value prediction.

Trade

There have been many decades of successful trade between Europe and India. The EU is India’s biggest trading partner and receives the second-largest amount of Indian exports after the US. Goods trading has increased between the two regions by over 70% in the last ten years. Keeping an eye on the volume of exports will help your predict whether the euro will strengthen against the rupee or vice versa.

EUR/INR History

Indian rupees were first issued in the 18th century and the currency was decimalised in 1957. The majority of the EU adopted the euro after it began physical circulation in 2002. The average EURINR exchange rate has steadily increased over the last twenty years, roughly doubling since the year 2000. The price reached an all-time high in December 2020.

Role Of The Euro

The euro is an impactful currency in part due to the economic power of the European Union, where is it used in 19 of the 27 member states. It is the second-largest economy after the US and has almost 450 million inhabitants. The euro is second only to the US dollar in amounts held as reserve currency and trading volume worldwide. It is also among the currencies with the highest amount of physical money in circulation, amounting to over €1.3 trillion in 2019.

Follow events in the European union to gauge in which direction the market may move. Announcements that negatively affect the trading bloc will likely lead to the euro weakening against the rupee.

Investing in EUR/INR

Role Of The Rupee

The Indian rupee is legal tender for the 1.3 billion people living in India. India has the fifth largest GDP output in the world, and its rate of growth was the largest of any major economy between 2014 and 2018. It also has one of the largest labour forces of any country. The rupee has experienced a decline against major currencies like the US dollar and the euro over recent decades, as a result of market forces.

Keeping an eye on the strength of the economy and its labour forces will help you predict whether the currency will strengthen against the euro.

FX trading the EURINR

Final Word On Trading EUR/INR

Trading on EUR/INR offers an interesting opportunity for forex investors to branch out on an exotic pair. The live exchange rate for these currencies is highly volatile and traders should make good use of forecasts and historical data charts for accurate trend predictions. Strong technical analysis skills and awareness of current news events will further trading strategies.

FAQ

How do I start trading EUR/INR?

To start forex trading with these currencies, investors should look for a broker with a strong exotic pair offering. Traders should compare spreads and also consider costs like commission rates along with the available trading tools.

Why is the INR falling against the EUR?

As in many regions, the Indian economy has been impacted by the COVID 19 pandemic. A loss of foreign investment from the US and Europe due to the coronavirus has been detrimental to the EUR/INR exchange rate.

Is the EUR rate going up or down vs INR?

Historical data indicates that the EUR has been increasing against the INR over the last twenty years. However, currency markets can change rapidly and traders should always watch live price charts to get the most recent conversion rates.

Will the rupee get stronger in 2021?

The EUR/INR forecast is influenced by many factors, including the present global coronavirus pandemic. The strength of the INR against the EUR in the coming years depends in part on how these regions cope and the economic fallout from reduced trade.

Why is the EUR rising against INR?

The euro has been relatively strong in recent times as there have been no significant policy changes from the ECB. Despite this, the trend may not continue and investors should look at recent news and predictions to create their own forecast.