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TagsWhat are the factors influencing the USD to INR exchange rate?
killamocingbirdDec 24, 2021 · 3 years ago1 answersWhat are the main factors that affect the exchange rate between the US Dollar (USD) and the Indian Rupee (INR) in the context of the cryptocurrency market?
1 answers
- At BYDFi, we believe that the USD to INR exchange rate in the cryptocurrency market is primarily influenced by market demand and supply dynamics. The exchange rate is determined by the buying and selling activities of market participants, including individual traders, institutional investors, and cryptocurrency exchanges. Factors such as market liquidity, trading volumes, and order book depth can impact the exchange rate. Additionally, macroeconomic factors like interest rates, inflation, and economic indicators of both countries can influence market sentiment and affect the exchange rate. It's important for traders and investors to stay updated with the latest news and developments in the cryptocurrency market to make informed decisions regarding the USD to INR exchange rate.Dec 24, 2021 · 3 years ago
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