Based on those kinds of factors, you might think that a related currency — for example, the Euro — will rise in value. You could then buy Euros and sell U. If your prediction panned out, and the Euro did rise in value, you would make a profit. Of course, there are many more nuances that make forex trading complex, which we'll get into below. The chart below shows two paired currencies and reflects what one unit of the first listed currency is worth in the second listed currency. For example, the first row shows how much one Euro is worth in U. Forex trading quotes are pulled from Google Finance and may be delayed up to 20 minutes.
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Data is solely for informational purposes, not for trading purposes. Being able to read and really understand a forex quote is, unsurprisingly, key to trading forex. The currency on the right USD is called the counter or quote currency. The number is what the counter currency is worth relative to one unit of the base currency. When that number goes up, it means the base currency has risen in value, because one unit can buy more of the counter currency. When that number goes down, the base currency has fallen. You're always buying or selling the base currency. Within a pair, one currency will always be the base and one will always be the counter — so, when traded with the USD, the EUR is always the base currency.
As with stock trading, the bid and ask prices are key to a currency quote. They, too, are tied to the base currency, and they get a bit confusing because they represent the dealer's position, not yours. The ask price tells you how much of the counter currency USD, in our example it will take to buy one unit of the base currency EUR.
The bid price tells you how much of the counter currency you can buy when you sell one unit of the base currency.
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The difference between these two prices — the ask price minus the bid price — is called the spread. The bid price is always lower than the ask price, and the tighter the spread, the better for the investor. Many brokers mark up, or widen, the spread by raising the ask price. They then pocket the extra rather than charging a set trade commission. Click here.
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What Are Currency and Foreign Exchange?
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Password recovery. Recover your password. Mutual funds allow a power of attorney PoA holder to take these decisions on your behalf. All that the PoA holder needs to do is to submit the original PoA or an attested copy of it to the fund house. The PoA holders signature will be verified for processing any transaction.
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An NRI can also be the nominee for investments made by a local resident. Redemption proceeds are either paid through cheques or directly credited to the investor's bank account. All earnings will be payable in rupees. Hence, earnings made by redeeming the units or through dividends are fully repatriable. However, in case of investments made through NRO accounts, only the capital appreciation is repatriable, not the principal amount. But are NRIs subject to double taxation-once in India and again in the country of their residence?
It depends on the country of residence.
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The investor will need to pay tax only for the difference in rate. This means he gets a deduction on the tax paid in India from his tax payable in the US. An individual open only one PIS account for buying and selling stocks.
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The next step is to open a demat account and a trading account with a Sebi-registered brokerage firm. An NRI cannot transact in India except through a stock broker. NRIs cannot trade shares in India on a non-delivery basis, that is, they can neither do day trading nor short-sell in India.
If they buy a stock today, they can only sell it after two days. Short-selling is selling stocks that one doesn't own in expectation that their prices will drop, and buy them back at lower prices.