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.
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.
- Central bank policy – The EUR/INR exchange rate is affected by the European Central Bank (ECB) and Reserve Bank of India (RBI) reference rates. We have seen this during the Covid-19 pandemic when countries took measures to diminish the impact of the virus on economies.
- 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 2023 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
Knowing when to trade EUR/INR is important for maximizing profit margins.
The National Stock Exchange of India (NSE) operates from 9 am to 5 pm India Standard Time, which is equivalent to 3:30 am to 11:30 am GMT. This time frame is the most liquid period for trading, resulting in lower bid-ask spreads.
Before opening an account, traders should ensure that their broker offers the EUR/INR pair. Large brokers now offer EUR to INR more frequently, along with various powerful analysis tools, charts, lot sizes, indicators, and automated trading features. Some providers also offer services for converting EUR to INR.
Data & Forecasting
Many investors concentrate on analyzing the current currency data. When opening and closing trades, monitoring a live EUR vs. INR chart is essential. However, traders can also rely on past information, such as year-long graphs or trends over the last five years. Using as much financial data as possible is essential to make strong value predictions.
Europe and India have had many decades of successful trade. The EU is India’s largest partner and receives the second-largest amount of Indian exports after the US. In the last ten years, the goods exchanged between the two regions have increased by more than 30%.
Importantly, keeping an eye on the volume of exports can help predict whether the euro will strengthen against the rupee or vice versa.
Indian rupees were first issued in the 18th century, and the currency was decimalized in 1957.
After its physical circulation began in 2002, most of the EU adopted the euro.
Over the last twenty years, the average exchange rate between EUR and INR has steadily increased, and it roughly doubled since 2000. The price hit a record high of 92.32 in August 2013 and a record low of 38.45 in October 2000.
The Role Of The Euro
The euro is a significant currency, thanks in part to the economic power of the European Union, where it is used in 19 out of 27 member states. With almost 746.4 million inhabitants, the EU is the second-largest economy after the US. The euro is second only to the US dollar in terms of 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, totaling over €1.6 trillion in April 2022.
Monitoring EU events is crucial to gauge the market’s direction. Negative announcements affecting the trading bloc typically see the euro weaken against the rupee. Inflation rates, oil prices, and the conflict in Ukraine also impact today’s EUR/INR conversion rate.
The Role Of The Rupee
The Indian rupee is legal tender for the 1.38 billion people in India, which has the world’s fifth-largest GDP output and one of the largest labor forces. However, the rupee has experienced a decline against major currencies like the US dollar and the euro in recent decades due to market forces.
Keeping an eye on the economy’s strength and labor forces can help you predict whether the rupee will strengthen against the euro.
Final Word On Trading EUR/INR
Trading EUR/INR offers an intriguing opportunity for forex investors to branch out and explore 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.
Why Is The EUR Falling Against The INR?
The European economy has been impacted by the COVID-19 pandemic. Monetary policies during this period have put pressure on the region to recoup costs by raising inflation. Another big 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.
Markets can change rapidly; traders can check live price charts to get the most recent conversion rates.
Will The Rupee Get Stronger In 2023?
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.