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TagsWhat are the factors that influence the INR to USD exchange rate in the cryptocurrency industry?
Manveer SinghDec 17, 2021 · 3 years ago1 answersWhat are the main factors that affect the exchange rate between the Indian Rupee (INR) and the United States Dollar (USD) in the cryptocurrency industry? How do these factors impact the INR to USD exchange rate?
1 answers
- The exchange rate between INR and USD in the cryptocurrency industry is influenced by various factors. One of the factors is the trading volume and liquidity of INR and USD in the cryptocurrency exchanges. If there is a high trading volume and liquidity for INR and USD pairs, it can lead to a more stable and accurate exchange rate. Additionally, market sentiment and investor confidence in the cryptocurrency industry can also impact the exchange rate. Factors such as news events, regulatory developments, and market trends can influence the sentiment and confidence of investors, which in turn affects the exchange rate. It's important to note that the exchange rate in the cryptocurrency industry can be highly volatile and subject to sudden changes due to market dynamics and external factors.Dec 17, 2021 · 3 years ago
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