Nithin told rupee depreciation increase cross currency profit but my fraud samco broker contract notes shows one day sold eurusd at 1.16( reference rate 68.5) 79.46, next day bought at 1.15, (referece rate 69.2),79.58, infact rupee depreciation made me loss , am i right in calculating it or this is method used only for exchabge charges calculation , explain me or i am going mad over these equations?
Seems you are new to cross currency trading, infact India is, but I believe one should know all minute things before trading in cross currency pairs as they are little tricky and various factors are involved. Can go through this and only once you are confident enough can start trading them again.
Siva ji ,i have gone through all these articles and even nithin has told me that rupee depreciation makes it profitable , lets take it simple , why does not broker simply sell contract note which states 10 lot sell at 1.16, why this all jingle mingel things to confuse us?
Contract note will have a pre defined format as set by regulator so it can’t be of any other format.