I’m observing market from 2 years and I never see Huge Gap up or Gap Down in any currency pair . I have seen a gap with max 1% in my observation. Is there any previous scenarios when there is gap more than 2% in indian currency pairs.
I would like to know answers from experts who have seen the market from years.
Thanks in advance.
even if there is gap up or not , dont expect it will do the same in future … market will surprise you 
I feel there is a respect to historical data always…
It can happen because it has happened. Till Now, RBI allows only select currency futures to be traded, so be have fairly less amount of data. So, when more are allowed, these incidents would happen.
For example Pound Sterling fell a lot after brexit results. Yen strengthened after earthquake and Fukushima. Currencies can change when countries devalue or peg it against different currency or some other monetary action( like change in interest rate ) Example: when Switzerland currency soared 30% after its central bank scrapped the exchange rate control - which has imposed a maximum value on the Swiss franc.
https://www.telegraph.co.uk/finance/currency/11347218/Swiss-franc-surges-after-scrapping-euro-peg.html
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