Forex charts are graphical representations of the relative values of various currency pairs. Charts come in three types: line, bar and candlestick charts, and they all tell their own stories. Staying on top of the chart-game is essential for every trader, given the fast-moving nature of the forex business. A proper forex portal will always provide up-to-date forex charts as well as technical analysis of the featured markets. FxExplained India will focus more on currency pairs including the Indian Rupee and Asian currency pairs. Below you will see the world’s most common currency pair; EURUSD and also USDINR and USDJPY, please click on the charts to modify the view of each chart. Further below you have a wide range of clickable pairs where you will get a specific page for that pair with real time information on the value as well as the latest analyses on that specific pair.
The EUR/USD chart represents the amount of USD needed to purchase one EUR, the USD/INR chart represents the amount of Indian Rupees needed to purchase one US dollar and the last chart, the USD/JPY, represents the amount of Japanese Yen needed to purchase one US dollar. Click on any currency pair above and you will get a specific page with a chart of that pair where you can play around with time periods, indicators and more in real time. Enjoy.
The Euro (EUR)
The Euro was introduced in 1999 and today the Euro is the closest challenger to the US dollar of becoming the world’s top reserve currency. It has not happened yet even though the currency serves more than 300 million people in Europe including quite a few booming economic countries. The European Central Bank (ECB) is the financial authority governing the Euro.
The US Dollar (USD)
The US dollar is both the world's most traded currency and also the top reserve currency in the world. Most commodities, like gold, are almost exclusively traded in the US dollar. The Federal Reserve is the financial authority governing the US dollar.
The Indian Rupee traces its origins all the way back to the 6th century. India was after all one of the first countries in the world to issue currency. During the 1800s, the value of the INR went through a rather cataclysmic event, known as “the fall of the rupee”. The Rupee was historically a silver coin. During the 1800s however, massive amounts of silver were discovered in the US, as well as in several European colonies. The resulting silver boom drove down the value of the metal compared to gold, and with it, the value of the rupee. The Indian Rupee is backed by what’s called a developing mixed economy. By nominal GDP, this economy is the 7th largest in the world. Lately, the growth of the Indian economy has outpaced even that of China’s. Within the fold of the Indian economy, the service sector is the fastest growing one.