Your Questions About Forex Rates

Maria asks…

Which are the sites from where we can daily Forex rates in India?

I am mainly interested in getting latest rates of USD vs Indian Rupee

kenspong answers:

For forex rates of any country log on to xe.com and you will getting daily rates of usd vs rupees or any other currency.

Michael asks…

Is it possible to win money from FOREX with 3 or more different rates?

Hello everyone,

I’m wondering if it is possible to win money from FOREX with only changing currencies.

For example, we have 10000 USD.

We change it to EUR. Than we change the EUR to JPY and we have like 10000,03 $.

Is there any moment to catch (possibly with a local script) that this three rates make this possible.

Thank you.

kenspong answers:

Transacting in currency speculative market is like bird hunting in lions land.
In your above calculation you had not considered of deductible charges on transaction.

James asks…

What are the tax rates for options and forex?

Are stock options gains (selling calls) taxed the same as short-term gains on stocks, or is there a different set of rules? And forex?

kenspong answers:

Yes they are. All options are treated the same unless you hold what is known as LEAPs which are at least 1 year before expiration/execution.

Aleks

Helen asks…

Where can I get live forex rates via an RSS feed for free?

kenspong answers:

Http://fxlabs.oanda.com/cgi/fxlabs.pl?id=19

Daniel asks…

what is the single most important determinant in looking at 6 or 12 months forex rates?

kenspong answers:

It depends.

Keep in mind forex rates are RELATIVE values between TWO currencies . . It is not an isolated, one-dimensional concept.

Sometimes the largest determination is the relative interest rates of their central bank (e.g. The Fed, ECB, B of E, RBA), sometimes how well its economy is going, political future, trade future. The list is endless.

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