The foreign exchange market, also known as FOREX, is an incredibly dynamic and fast-paced global market. It is a market where currencies from all over the world are traded and investments are made.
Knowing how to trade in the FOREX market is essential for anyone looking to make money in the international market.
How to Know FOREX in Nepali
In Nepal, the FOREX market is quickly gaining popularity as more people look to get involved in the lucrative international trading market. To get started, you will need to understand the basic principles of the FOREX market, including the different currencies, the risks and rewards associated with investing, and the market’s rules and regulations.
Before you can begin trading, you must first set up a foreign exchange trading account with a brokerage firm or bank. You will need to provide basic information about yourself, such as your name, age, and address. Once the account is set up, you will need to provide funds for trading. You can do this by transferring money from your bank account or by adding a credit or debit card.
Once you have set up your account, you will need to understand the different currencies and the exchange rates between them. This is essential as it will determine how much you can make or lose when trading. You will also need to research the different trading platforms available, such as MetaTrader 4 and cTrader so that you can find one that best suits your needs.
FOREX in Nepali
Finally, you will need to familiarize yourself with trading strategies and techniques. This is the most important part of learning FOREX in Nepal, as it will help you make more informed decisions. You can learn these strategies through online tutorials, reading books, or attending seminars.
Overall, learning FOREX in Nepal is not as complicated as it may seem. With the right information, resources, and strategies, anyone can become successful in the FOREX market.
Hamro Patro FOREX
Hamro Patro is an app launched in 2010 that provides Nepali Patro, a Nepali calendar mobile app to help Nepalese living abroad to keep track of important dates. It also provides foreign exchange rates for various currencies available at the Nepal Rastra Bank, with the Nepali rupee fixed at NRs. 160 to the Indian rupee.
Today’s exchange rates for the Indian rupee, U.S. dollar, European euro, UK pound sterling, Swiss franc, Australian dollar, Canadian dollar, Singapore dollar, Japanese yen (10), Chinese renminbi (Yuan), Saudi Arabian riyal, Qatari riyal, Thai baht, UAE Dirham, Malaysian ringgit, Korean Won (100), Swedish Krone, Danish Krone, Hong Kong dollar, Kuwaiti Dinar, Bahrain Dinar are available. The last update for this information was on February 12, 2016. The Nepali calendar is 56 years old and the current Nepali year is 2078 Bikram Sambat, which is about 8 months ahead of the English calendar.
The Nepali new year begins in the middle of April in the Nepali calendar, but in the Gregorian calendar, it starts around late January. The conversion rate between Nepali and Indian rupees is fixed at 1 Indian rupee to 1.6 Nepalese rupees.
References:
[1] Forex – Foreign Exchange Rates – Hamro Patro
[2] Forex, Foreign Exchange Rates, Nepali … – Nepali Calendar
[3] Nepali Exchange Rates: Forex
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