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 capitalize on to turn a profit. Utilizing forecast graphs and watching the news may also improve strategy predictions. Our tutorial 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. We also list the best EUR/INR brokers.
EUR/INR Trading Brokers
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1
FOREX.comActive Trader Program With A 15% Reduction In Costs
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.01 Lots1:50NFA, CFTCForex, Stocks, Futures, Futures OptionsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentralWire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN -
2
NinjaTrader
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Stocks, Options, Commodities, Futures, CryptoNinjaTrader Desktop, Web & Mobile, eSignalACH Transfer, Debit Card, Wire TransferUSD -
3
Interactive Brokers
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$0$1001:50FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFMStocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, CryptocurrenciesTrader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentralCheque, ACH Transfer, Wire Transfer, Automated Customer Account Transfer Service, TransferWise, Debit CardUSD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF -
4
IGForex trading involves risk. Losses can exceed deposits.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:30 (Retail), 1:250 (Pro)FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFMCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread BettingWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentralPayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit CardUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD -
5
OANDA USCFDs are not available to residents in the United States.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$00.01 Lots1:50NFA, CFTCForex, Crypto with Paxos (Cryptocurrencies are offered through Paxos. Paxos is a separate legal entity from OANDA)OANDA Trade, MT4, TradingView, AutoChartistWire Transfer, Visa, Mastercard, Debit Card, ACH TransferUSD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD -
6
Videforex20% to 200% Deposit Bonus
$250$0.011:500Binary Options, CFDs, Forex, Indices, Commodities, CryptoTradingViewSkrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum PaymentsUSD, EUR, GBP, AUD, RUB -
7
Plexytrade120% Cash Welcome Bonus
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$500.011:2000CFDs, Forex, Indices, Stocks, Commodities, CryptoMT4, MT5Bitcoin Payments, Ethereum PaymentsUSD, EUR -
8
CloseOption$10 Welcome Gift
$5$1National Bank of GeorgiaBinary Options on Forex & CryptosOwnPayPal, WebMoney, Mastercard, Perfect Money, Wire Transfer, Bitcoin Payments, Ethereum PaymentsUSD -
9
Sage FX$1,500 trading competition
$100.01 Lots1:500PendingForex, indices, cryptosTradeLockerCredit Card, Visa, Mastercard, Bitcoin Payments, Ethereum PaymentsUSD, EUR, GBP, CAD, AUD -
10
Plus500 USWelcome Deposit Bonus up to $200Trading with leverage involves risk.
Ratings/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5
$1000.0 LotsCFTC, NFAFutures on Forex, Commodities, Cryptos, Indices, Interest RatesWebTrader, AppACH Transfer, Wire Transfer, Debit Card, Mastercard, VisaUSD
Here is a summary of why we recommend these brokers:
- FOREX.com - FOREX.com continues to uphold its stature as a premier FX broker, offering over 80 currency pairs and boasting some of the most competitive fees in the industry. With EUR/USD spreads dipping as low as 0.0 and $5 commission per $100k, it stands out. Moreover, its SMART Signals help to identify price behaviors across numerous major currency markets.
- NinjaTrader - NinjaTraders supports the trading of popular currencies including the EUR/USD. The software also offers advanced features to streamline the trading experience, including complex order types like market if touched (MIT) and one cancels other (OCO).
- Interactive Brokers - IBKR presents an extensive range of over 100 major, minor, and exotic forex pairs, surpassing the offerings of nearly all leading alternatives, though not CMC Markets. Forex trading occurs over multiple platforms and boasts institutional-grade spreads starting from 0.1 pips and 20 complex order types, including brackets, scale, and one-cancels-all (OCA) orders.
- IG - IG offers an above-average suite of 80+ currency pairs on its proprietary web platform, mobile app or MetaTrader 4, with more advanced charts and forex analysis tools available on the ProRealTime software. Forex spreads are competitive based on tests, starting from 0.1 pips on majors like the EUR/USD.
- OANDA US - OANDA offers a diverse selection of 68 currency pairs, more than many alternatives. The broker’s in-house platform offers superb day trading capabilities via powerful TradingView charts, including 65+ technical indicators and 11 customizable chart types.
- Videforex - Videforex offers trading on 35 currency pairs through leveraged CFDs with spreads from 0.1 pips. Alternatively, traders can use binaries to speculate on upward/downward price movements with payouts up to 98%. Integrated technical analysis, economic calendars, and market news, all available within the platform, help support FX trading decisions.
- Plexytrade - Plexytrade presents major, minor, and exotic forex pairs for trading, with leverage reaching 1:2000 and raw spreads starting from 0.0 - an enticing proposition for advanced traders seeking gains from minor price shifts. However, the downside lies in the limited selection, with only 41 currency pairs available, significantly fewer than the 100+ forex assets at IG.
- CloseOption - CloseOption offers binaries on 25+ forex pairs, including majors like EUR/USD and a few minors like AUD/JPY. Payouts vary by currency, with decent typical payouts of 75% for GBP/USD.
- Sage FX - Trade 7 major, 21 minor and 29 exotic forex pairs with high leverage and a choice between STP or ECN accounts. Support is available around the clock and the TradeLocker forex software is provided.
- Plus500 US - Plus500 US offers futures trading on a small selection of 13 currencies, including popular pairs like the EUR/USD and GBP/USD. Day trading margins are competitive, starting from $40, while the educational resources do an excellent job of breaking down the basics of forex futures for new traders.
Trading EUR/INR Comparison
| Broker | Forex Assets | EUR/USD Spread | Forex App Rating | Minimum Deposit | Regulator |
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80+ | 1.2 | / 5 | $100 | NFA, CFTC |
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50+ | 1.3 | / 5 | $0 | NFA, CFTC |
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100+ | 0.08-0.20 bps x trade value | / 5 | $0 | FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA, AFM |
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80+ | 0.8 | / 5 | $0 | FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB, AFM |
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65+ | 1.6 | / 5 | $0 | NFA, CFTC |
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35+ | 0.1 | / 5 | $250 | - |
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40+ | 0.7 | / 5 | $50 | - |
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20+ | No fee - payouts approx. 80% (Copper) | - | $5 | National Bank of Georgia |
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57 | 0.9 | - | $10 | Pending |
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13 | 0.75 | / 5 | $100 | CFTC, NFA |
FOREX.com
"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."
Christian Harris, Reviewer
FOREX.com Quick Facts
| Bonus Offer | Active Trader Program With A 15% Reduction In Costs |
|---|---|
| GBPUSD Spread | 1.3 |
| EURUSD Spread | 1.2 |
| EURGBP Spread | 1.4 |
| Total Assets | 80+ |
| Leverage | 1:50 |
| Platforms | MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN |
Pros
- With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.
- The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
- Alongside a choice of leading platforms, FOREX.com offers a superb suite of supplementary tools including Trading Central research, SMART Signals pattern scanner, trading signals, and strategy builders.
Cons
- Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
- Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
- Despite increasing its range of instruments, FOREX.com's product portfolio is still limited to forex and CFDs, so there are no options to invest in real stocks, real ETFs or real cryptocurrencies.
NinjaTrader
"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."
Tobias Robinson, Reviewer
NinjaTrader Quick Facts
| GBPUSD Spread | 1.6 |
|---|---|
| EURUSD Spread | 1.3 |
| EURGBP Spread | 1.6 |
| Total Assets | 50+ |
| Leverage | 1:50 |
| Platforms | NinjaTrader Desktop, Web & Mobile, eSignal |
| Account Currencies | USD |
Pros
- NinjaTrader continues to deliver comprehensive charting software for active day traders with bespoke technical indicators and widgets
- Traders can get free platform access and trade simulation capabilities in the unlimited demo
- Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
Cons
- Non forex and futures trading requires signing up with partner brokers
- The premium platform tools come with an extra charge
- There is a withdrawal fee on some funding methods
Interactive Brokers
"Interactive Brokers is one of the best brokers for advanced day traders, providing powerful charting platforms, real-time data, and customizable layouts, notably through the new IBKR Desktop application. Its superb pricing and advanced order options also make it highly attractive for day traders, while its diverse range of equities is still among the best in the industry."
Interactive Brokers Quick Facts
| GBPUSD Spread | 0.08-0.20 bps x trade value |
|---|---|
| EURUSD Spread | 0.08-0.20 bps x trade value |
| EURGBP Spread | 0.08-0.20 bps x trade value |
| Total Assets | 100+ |
| Leverage | 1:50 |
| Platforms | Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, INR, JPY, SEK, NOK, DKK, CHF, AED, HUF |
Pros
- IBKR continues to deliver unmatched access to global stocks with tens of thousands of equities available from 100+ market centres in 24 countries.
- IBKR is one of the most respected and trusted brokerages and is regulated by top-tier authorities, so you can have confidence in the integrity and security of your trading account.
- There's a vast library of free or paid third-party research subscriptions catering to all types of traders, plus you can enjoy commission reimbursements from IBKR if you subscribe to Toggle AI.
Cons
- Support can be slow and frustrating based on tests, so you might find it challenging to reach customer service representatives promptly or encounter delays in resolving issues.
- You can only have one active session per account, so you can’t have your desktop program and mobile app running simultaneously, making for a sometimes frustrating trading experience.
- TWS’s learning curve is steep, and beginners may find it challenging to navigate the platform and understand all the features. Plus500's web platform is much better suited to new traders.
IG
"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."
IG Quick Facts
| GBPUSD Spread | 0.9 |
|---|---|
| EURUSD Spread | 0.8 |
| EURGBP Spread | 0.9 |
| Total Assets | 80+ |
| Leverage | 1:30 (Retail), 1:250 (Pro) |
| Platforms | Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD |
Pros
- IG offers an extensive collection of professional and engaging educational resources, including webinars, articles, and analysis
- The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
- IG is amongst the best in terms of its range of instruments, which includes stocks, forex, indices, commodities, and cryptocurrencies, plus recently added US-listed futures and options, providing ample diversification opportunities
Cons
- Stock and CFD spreads still trail the cheapest brokers like CMC Markets based on tests
- Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
- IG has discontinued its swap-free account, reducing its appeal to Islamic traders
OANDA US
"OANDA remains an excellent broker for US day traders seeking a user-friendly platform with premium analysis tools and a straightforward joining process. OANDA is also heavily regulated with a very high trust score."
OANDA US Quick Facts
| GBPUSD Spread | 3.4 |
|---|---|
| EURUSD Spread | 1.6 |
| EURGBP Spread | 1.7 |
| Total Assets | 65+ |
| Leverage | 1:50 |
| Platforms | OANDA Trade, MT4, TradingView, AutoChartist |
| Account Currencies | USD, EUR, GBP, CAD, AUD, JPY, CHF, HKD, SGD |
Pros
- Seasoned day traders can access industry-leading tools, including an MT4 premium upgrade and advanced charting provided by MotiveWave
- Beginners can get started easily with $0 minimum initial deposit
- Day traders can enjoy fast and reliable order execution
Cons
- It's a shame that customer support is not available on weekends
- There's only a small range of payment methods available, with no e-wallets supported
- The range of day trading markets is limited to forex and cryptos only
Videforex
"Videforex will serve traders looking for a no-frills, easy-to-use platform to speculate on the direction of popular financial markets through binaries. With a sign-up process that takes a matter of minutes and a web-accessible platform, getting started is a breeze. "
Videforex Quick Facts
| Bonus Offer | 20% to 200% Deposit Bonus |
|---|---|
| GBPUSD Spread | 0.1 |
| EURUSD Spread | 0.1 |
| EURGBP Spread | 0.1 |
| Total Assets | 35+ |
| Leverage | 1:500 |
| Platforms | TradingView |
| Account Currencies | USD, EUR, GBP, AUD, RUB |
Pros
- Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, bringing it in line with competitors like IQCent.
- Videforex regularly runs trading contests, offering practice opportunities and cash prizes to beginners and experienced traders, with position sizes from just ¢0.01.
- Videforex is one of the few brokers with 24/7 multilingual video support, providing comprehensive assistance for active traders.
Cons
- Videforex lacks authorization from a trusted regulator, meaning traders may receive little to zero safeguards like segregated client accounts.
- The absence of any educational tools is a serious drawback for newer traders who can find blogs, videos and live trading sessions at category leaders.
- The client terminal needs improvements based on our latest tests, sporting sometimes slow and unresponsive widgets which could dampen the experience for day traders.
Plexytrade
"Plexytrade is a newcomer in the brokerage scene with attention-grabbing features like 1:2000 leverage, zero spreads on select instruments and fast execution speeds of less than 46 milliseconds. However, the absence of regulation is a significant concern, while the non-existent research and educational tools place it far behind industry frontrunners."
Plexytrade Quick Facts
| Bonus Offer | 120% Cash Welcome Bonus |
|---|---|
| GBPUSD Spread | 0.8 |
| EURUSD Spread | 0.7 |
| EURGBP Spread | 1.1 |
| Total Assets | 40+ |
| Leverage | 1:2000 |
| Platforms | MT4, MT5 |
| Account Currencies | USD, EUR |
Pros
- US residents are accepted as clients, distinguishing Plexytrade as one of the rare offshore brokers that cater to US-based traders.
- Plexytrade offers among the highest leverage we’ve seen, up to 1:2000, catering to advanced traders willing to forego regulatory protections.
- There are various VPS packages starting from $50 per month, but they become complimentary once specific deposit thresholds are reached.
Cons
- There are no research and educational materials, falling short of alternatives like IG, while access to the economic calendar is restricted to clients with balances of $500.
- Deposits and withdrawals are exclusively facilitated through cryptocurrencies, as Plexytrade does not support bank cards, bank wire transfers, or e-wallets.
- There are no social or copy trading features for inexperienced traders to replicate the trades of more experienced investors, trailing category leaders like eToro.
CloseOption
"CloseOption is a good pick for traders seeking a user-friendly binary options platform with high payouts and joining bonuses."
CloseOption Quick Facts
| Bonus Offer | $10 Welcome Gift |
|---|---|
| GBPUSD Spread | No fee - payouts approx. 80% (Copper) |
| EURUSD Spread | No fee - payouts approx. 80% (Copper) |
| EURGBP Spread | No fee - payouts approx. 80% (Copper) |
| Total Assets | 20+ |
| Platforms | Own |
| Account Currencies | USD |
Pros
- Multiple global payment methods are available
- New traders can get started with a $5 minimum deposit
- CloseOption offers weekly trading tournaments with cash prizes
Cons
- CloseOption is not regulated by a well-regarded trading authority
- Binary options are only available on fiat and digital currencies
- Clients need to deposit $50,000+ to qualify for the best payouts
Sage FX
"Sage FX will suit forex traders looking for high leverage and ECN spreads. The broker's prop trading service will also appeal to users looking for funded accounts with up to $200K available."
Sage FX Quick Facts
| Bonus Offer | $1,500 trading competition |
|---|---|
| GBPUSD Spread | 0.9 |
| EURUSD Spread | 0.9 |
| EURGBP Spread | 2.5 |
| Total Assets | 57 |
| Leverage | 1:500 |
| Platforms | TradeLocker |
| Account Currencies | USD, EUR, GBP, CAD, AUD |
Pros
- Prop trading accounts with multiple funding tiers
- Bonus offers and trading competitions
- Low starting deposit from $10
Cons
- Lacks educational resources and other extra features
- Not regulated by any reputable body
- Relatively narrow range of asset classes
Plus500 US
"Plus500 US stands out as an excellent choice for beginners, offering a very user-friendly platform, low day trading margins, and access to the Futures Academy to enhance trading skills."
Michael MacKenzie, Reviewer
Plus500 US Quick Facts
| Bonus Offer | Welcome Deposit Bonus up to $200 |
|---|---|
| EURUSD Spread | 0.75 |
| Total Assets | 13 |
| Platforms | WebTrader, App |
| Account Currencies | USD |
Pros
- Plus500 US excels for its low fees with very competitive day trading margins and no inactivity fees, live data fees, routing fees, or platform fees
- Plus500 is a publicly traded company with a good reputation, over 24 million traders, and a sponsor of the Chicago Bulls, instilling a sense of trust
- The Futures Academy is an excellent resource for new traders with engaging videos and easy-to-follow articles, while the unlimited demo account is great for testing strategies
Cons
- The proprietary platform is user-friendly but lacks advanced technical analysis tools found in third-party solutions like MetaTrader 4
- Despite competitive pricing, Plus500 US lacks a discount program for high-volume day traders, a scheme found at brokers like Interactive Brokers
- While Plus500 US continues to broaden its investment offering, it's currently restricted to around 50+ futures with no stocks
Live Chart
Pros Of Trading EUR/INR
- Volatility – EUR/INR historical data indicates the buy-sell rate on this pair is particularly volatile. With close observations of live price charts, expert investors can detect trends and make projections.
- Data availability – Modern traders have access to 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 accurate forecasts for the short and long term.
- Automated live trading – Forex software that allows investors to execute orders automatically is now more affordable. These programs monitor the current EUR/INR rate in real-time. Importantly, they 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. The live exchange rate today can be significantly different from yesterday. This volatility makes it difficult for beginners to predict the upcoming rate and 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, which could result in high bid-ask spreads.
- Reduced leverage – Brokers with exotic pairs like the EUR/INR commonly offer lower leverage on such assets versus more established currency sets.
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, in which the expected future price is higher than current spot rates. These include:
- Central bank policy – The EUR/INR exchange rate is affected the European Central Bank (ECB) and Reserve Bank of India (RBI) reference rates.
- 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 the size and performance of economies seriously impact currency values.
- Political stability – Political actions often affect the EUR to INR value. Traders hoping to profit from this pair should view the latest news and remain alert to the political landscape. The impact of the war in Ukraine, for example, can be seen on forex charts. The EUR has been losing ground to the INR because of the European Union’s proximity to Ukraine.
Linked Currency Pairs
Traders can 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 2024 and beyond is to consider the effect of correlated currency pairs. These currencies demonstrate price changes in line with each other – positively correlated pairs display movement in the same direction. In contrast, 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 Trading Strategy
Trading Hours
Knowing when to trade EUR/INR is important for maximizing 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 converting EUR to INR.
Check out our list of the best forex day trading platforms.
Data & Forecasting
Many investors focus on analyzing 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, for example, year-long graphs or trends over the last five years. Utilizing as much financial data as possible is key to making strong value predictions.
Trade
There have been many decades of successful trade between Europe and India. The EU is India’s biggest partner and receives the second-largest amount of Indian exports after the US. Goods exchanged has increased between the two regions by over 30% in the last ten years.
Importantly, keeping an eye on the volume of exports will help you predict whether the euro will strengthen against the rupee or vice versa.
EUR/INR History
Indian rupees were first issued in the 18th century, while decimalizing the currency took place in 1957. Most 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 2000. The price reached an all-time high of 92.32 in August 2013 and an all-time low of 38.45 in October 2000.
Role Of The Euro
The euro is an impactful currency in part due to the economic power of the European Union, where it is used in 19 of the 27 member states. It is the second-largest economy after the US and has almost 746.4 million inhabitants. The euro is second only to the US dollar in amounts held as a reserve currency and trading volume worldwide. It is also among the currencies with the highest amount of physical money in circulation, amounting to over €1.6 trillion in April 2022.
Follow events in the European Union to gauge the market’s direction. Announcements that negatively affect the trading bloc typically see the euro weaken against the rupee. Importantly, EUR/INR’s conversion rate today is impacted by high inflation rates, oil prices, and the war in Ukraine.
Role Of The Rupee
The Indian rupee is legal tender for the 1.38 billion people in India. The country has the fifth-largest GDP output in the world. It also has one of the largest labor forces in any country. The rupee has experienced a decline against major currencies like the US dollar and the euro over recent decades due to market forces.
Keeping an eye on the economy’s strength and labor forces will help you predict whether the currency will strengthen against the euro.
Final Word
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 use of expert forecasts and historical data charts. Strong technical analysis skills and awareness of current news events will further your strategies. See our list of EUR/INR brokers to start trading today.
FAQs
Why Is The EUR Falling Against The INR?
One factor to consider is the Russian-Ukrainian war, which has impacted the stability of the EUR in the eyes of the investors.
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 since 2021, the EUR/INR has seen a decline. Markets can change rapidly; traders can check live price charts to get the most recent conversion rates.
Will The Rupee Get Stronger In 2024?
The EUR/INR forecast is influenced by many factors, including the present inflation and the war in Ukraine. The strength of the INR against the EUR in the coming years depends partly on how these regions cope with political and economic events.
Why Is The INR Rising Against EUR?
The INR has been relatively strong in recent times because it has been seen as a safer investment by traders when compared to the EUR. Despite this, the trend may not continue, and investors should look at recent news and predictions to create their own forecasts.
How Much Is One Euro In INR?
As the price changes on a daily basis, we recommend traders check the latest charts and conversion rate calculators. See a live EUR/INR chart here.
How Do I Start Trading EUR/INR?
Investors need to look for a top forex trading platform that offers exotic currency pairs. Traders should compare spreads and consider costs like commission rates and available trading tools. In addition, check if the platform offers forex signals and other market sentiment tools.