How to do arbitrage in currency markets?
To arbitrage, you need the same product to be trading on multiple markets.
USDINR currently trades on NSE, BSE, MCX-SX (Indian stock exchanges), also on Dubai exchange. Ideally the price in all these exchanges have to be the same. If you see any difference, you can buy in the exchange where the price is lower and sell where it is higher. As soon as the price becomes the same, you can reverse to pocket the difference.
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