USD/INR for Carry Trades

hi,
I am having this pair for carry trading on Oanda and I find that its really good for this purpose. Currently the strength of the dollars helped me get into a good position to go short on this pair.
The movement is very limited as far as pips are concerned compared to the other pairs which are used for carry trades.
Intrest rates are 7% for INR and 3% for USD so the differential is also great.
The spread offered by Oanda for this pair is only 3 pips so its fair enough even on that front.

I would like to know what are ur views regarding this and would be posting actual results of exactly how much swap I get etc.

As far as economies are concerned Indian Economy is quite strong these days and USD is considered fairly weak as far as fundamentals are concerned.

Igauresh,

Stick with these "different" sort of approaches. There are few that get rich quickly doing anything, that is a fact. By approaching the market as you seem to be doing, placing long term / fundamentally sound / interest positive trades, there is a far higher chance of longterm progress. At least you know you won't bust out in 3 weeks.

Regarding my views? The only thing I would state is to have a very "loose" exit strategy. For instance, looking back at a 5 year chart, a 2.65% SL / Price Based (from original entry), would seem appropriate. Though, if you got your hands on daily high and low data you may find something better. You would have been stopped about 4-6 times over 5 years just by eyeballing it. These are just safety nets I suppose. Every single time you got stopped you probably would have lost a little from exit to re-entry. Though, if you have any sort of technical sense on a daily chart, you would have been able to find an entry to get back in without TOO much loss. Although, hindsight is a horrible thing.

To be honest, you have re-drawn my attention to this currency. I closed a short USD/INR position not too long ago because it wasn't earning enough interest for my liking. Now that the rates have been cut again, I may take a stab at it again. Perhaps half the position will be INR/JPY as well. This will add a little interest and also make the bet a little more interesting long term.

I will try to remember this thread. I will post in a month or two if I am actively investing in the INR.

Have a great day,

Sadly enough just when I entered a good amount on this carry trade... Oanda reduced the Overnight Intrest rates on the USD/INR pair...
This was a bit absurd as the Reserve Bank of India hasnt changed intrest rates at all ... Also I got a very shady answer from Oanda Support regarding this issue. So I dont know if I would continue to invest in this pair ...
Can someone please tell me if this is happenning with all brokers or is it just Oanda who is changing their own policy a bit.

Also the INR/JPY pair ... though I can get that by trading USD/JPY and USD/INR but if there is any broker that offers this pair it would be good to know ...
Lastly I would like to know the list of all brokers who have USD/INR pairs..
or INR related pairs.

Thanks for the inputs mate... Really appreciate it.

I'm wondering if either of you have any updates on the pairs mentioned in this thread. I'm looking closely at USD/INR, but I'm not really sure where to start. Besides OandA, who else offers this pair? And what about JPY/INR?

The difference betweeen usd and inr interest rates is huge.... Does anyone think of carry trading nowadays?

I am thinking about usdinr pair as a good carry trade, please if you know where can I find some data, economic calendar, news, forums, technical or fundamental analysis and so on, please reply me.
If I find something I will let you know.
gabriel

no such thing. But if you want a chart back in time search 'usdinr=x', interactive, max

Yes, the interest rates are 7.5% vs. 0.25%. A great carry trade, in theory at least.

As far as announcements and economic releases, there is always this site: http://www.rbi.org.in/home.aspx

After all, it's India's Central Bank. They might know a few things about the Indian economy.

Hmmmm, I really have to start thinking about Oanda for a few different possible pairs.

Clock

http://megatraders.com/pages/inr_charts.php

some charts that may help for a quick look if anyone's still trying to look at this

Hello friends,

I am new to this forum and also have less trading experience. I am keenly watching to all the forum details. They are very useful to me.

I am very happy being with U all.

My regards and best wishes to all. Have best of the days.

enbeyar9612

Hi friends
sorry for bumping this threan
i have been carry trading the USD/INR pair for along time
my strategy is very simple.
first start an oanda account
deposit some Money (lets says 200usd)
now take that Money divide it by 4 and you get 50 usd
then take this 50 usd and divide it by 4 and you get 12.5 usd and as a last part divide 12.5 with 2 is 6.25usd this will be your seed Money.
so sell(short) 120 units off USDINR for the seed money(6.12usd to open)then every day you buy more units for the interest you earn , this setup will yield you
0.0134usd Daily and then for the interest you earns you buy more units.
this system doesnt relay on charts so even the pair is minus many pips and weare still getting interest and we don't have any stoploos or entry price tis is because all we want is the interest. check this for oanda interest https://www.oanda.com/rw-en/trading/financing-costs/.
it doesnt sounds much but over time you will make alot of Money.
when you got a hang on it you can start trade cfd where oanda pays 0.34usd per 100 units on natural gas, but on cfd you have to setup your rigg differently

sorry for the bad Spelling and English is not my native language

prohexa