India is about 1/3 the size of the United States, yet it is the second most populous country in the world, with a population of 1,166,079,217 – (wow that is packed). India is the largest democracy in the world.
The Indian Rupee has recently taken a considerable hit vs USD and looks to be setting up for a bit of a rebound.
I don’t trade it ( in fact my broker doesn’t offer the pair ) but I did find it interesting , to pull up a chart of USD/INR which does look very overbought.
There has been alot of talk that “forex trading” is actually illegal in India, but after doing some looking around I’ve come to learn that the actual “trading activity” isn’t illegal as such – but that there are considerable restrictions on “how much” money can deposited and traded.
Apparently it “is” illegal to take Rupee out of India, but this is only loosely enforced.
For anyone out there that “does” have an opportunity to trade Rupee………Rupee!