Posts Tagged ‘INR’

INDIAN RUPEE “SOUL TO A NATION”

We can start exploring this world’s history, present & future by several understanding & discovering symbols. On this eve of Independence, where the whole country is celebrating the Sixty four year of Independence, let’s take a look of how the country’s pride “The Indian Rupee” was designed & came into existence. The Indian rupee (sign: `, code: INR) is the official currency of India. The issuance of the currency is controlled by the Reserve Bank of India.

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The Walkthrough

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On March 5, 2009 the Indian government announced a contest to create a symbol for the rupee. During the Union Budget 2010 Finance Minister Pranab Mukherjee mentioned that proposed symbol would reflect and capture the Indian ethos and culture. Five symbols had been short listed, and the Cabinet selected the definitive symbol created by D Udaya Kumar on 15 July 2010. Kumar’s entry was chosen from 3,000 designs competing for the currency symbol.

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What does it depict?

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The symbol is a taken from the Devanagari ‘j’. It is a perfect blend of Indian and Roman letters — capital ‘R’ and Devanagri ‘Ra’. The parallel lines at the top (with white space between them) make an allusion to the tricolor Indian flag.

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Equality sign symbolizes the relativity of economy and balanced economy.

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Marked Existence

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With approval of new Indian rupee symbol, India has finally joined the privileged club of currencies, which currently has the US dollar, British pound sterling, Euro and Japanese yen. This makes India rupee the 5th currency in the world to have a clear distinguishing identity. The symbol will also be included in the Indian standard – Indian script Code for Information Interchange (ISCII).

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Adaptability

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Shiro Rekha (Uniqueness), Indian flag (Tri color), Harmonious with other currency symbols, Global and local appeal, Simplicity (High recall value), Familiar and easy to read, Easy to write & design, Easy to recollect and adapt , Blends with numerals, Balanced and Stable form, Unique & Dynamic design, Easy to implement.

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Meaning to a symbol is like Soul to a body. Psychologically, a symbol is an element of communication intended to represent repressed thoughts, feelings, or impulses & by which ideas are transmitted between people sharing a common culture. The symbol of Indian Rupee depicts one heart, one mind, one spirit, in tune with all elements. This symbol truly symbolizes our country, our tradition, our nation’s economy and its currency.

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Five designs that were short-listed by the jury and sent to the Cabinet for its approval. JAI HIND

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OUR Websites:  http://www.smcindiaonline.com,http://www.smccapitals.com,
http://www.smctradeonline.comhttp://www.smcwealth.com

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Commodity Trading :)

As you know we already have discussed about commodity trading but missed some of the points. So here we are discussing those points 🙂

What is a Trend in Commodity Trading?

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When prices are steadily moving higher or lower over a period of time it is considered as a trend. If prices are rising over time it is consider an uptrend. If prices are declining over a period of time then it is considered a downtrend.

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Reason behind following the trend is that prices are more likely to continue in that same direction than reverse. We can put the odds in our favor by trading this way.

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Tips on how to follow the Trend

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We can’t predict how high or low a market is going to move. Therefore, if we are following trends, we can catch some very profitable moves in the commodity markets.

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Two common ways to enter the markets when we spot a trend:

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  • Buy on a pullback. When the market is moving higher for ten days in a row, wait for a 2-3 day where prices decline and then buy.

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  • Buy when the market makes new highs. It is the hardest thing for many traders to do.

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Remember we should trade with the trend of the market to increase our chances of success. 🙂

What is Day Trading?

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Day trading is the process of buying and selling a futures contract(s) within the same day. Day trades can last for a couple minutes or sometimes they are held for most of the trading session. Day trading is not recommended for new futures traders since it takes a lot of knowledge, experience and discipline to day trade futures successfully.

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What are Futures Options?

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Buy or sell a futures contract at a designated strike price is the right of an option not an obligation. We buy options to bet on the price of a futures contract to go higher or lower for trading purposes. There are two main types of options – calls and puts.

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Calls –If we believe the underlying futures price will move higher we can buy a call option. For example, if we expect soybean futures to move higher, we will want to buy a corn call option..

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Puts –If we believe the underlying futures price will move lower we can buy a put option. For example, if we expect corn futures to move lower, we will want to buy a soybean put option.

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Benefits of Online Trading

Trading commodities online is almost a one-stop shop. Most online brokers will have real time quotes, charts, futures news, technical analysis programs and research available for their clients. This has opened the door for online traders to make more of their own trading decisions and implement trading strategies that once were not available to the average retail trader.

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If you are going to day trade commodities and futures, you definitely want to trade online, unless you have someone else managing your account.

SMC Comtrade Limited, a key constituent of SMC Group of Companies, came into existence since the very start of Commodity Exchanges in India. With nationwide presence, it is enabling the retail & corporate investors to diversify their portfolio and enjoy the benefits of trading in MCX, NCDEX & NMCE. Its highly appreciated research team guides the investors in making wise investment decisions for agri-commodities as well as international commodities.

SMC Comex International DMCC (part of SMC Group) is one of the initial, leading & experienced, clearing and broking member of Dubai Gold and Commodities Exchange (DGCX). It offers trading in Gold, Silver, Crude (WTI & Brent), Forex (INR, Euro, Dollar & sterling) and Steel Rebar Contracts.

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We provide various trading solutions to suit clients’ requirements. Our products are tailored to provide convenience to the clients & keep them satisfied. We offer Commodities Trading in offline mode as well as online mode; client can trade at the comfort of his home / office at any time using our platform.

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Which are the most prominent commodity exchanges across the world?

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  1. Chicago Board of Trade (CBOT )

  2. Chicago Mercantile Exchange (CME)

  3. New York Board of Trade (NYBOT)

  4. New York Mercantile Exchange (NYMEX)

  5. London Metal Exchange (LME)

  6. London International Financial Futures Options Exchange (LIFFE)

  7. The Tokyo Commodity Exchange (TOCOM)

  8. Kuala Lumpur Commodity Exchange (KLCE)

  9. Bursa Malaysia Derivatives Exchange.

Stay Tuned for more and more on this :)


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Economic Indicators – Leading the World Part 2

Hello Friends here we come up with an extension of our previous blog, ECONOMIC INDICATORS… “Leading the World” Part 1.

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Economic Indicators - Leading the World Part 2

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In previous Blog, we had touched upon the aspect like

what are Economic Events & Indicators and important sources of data provider for calculating & determining economic indicators.

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However in this Blog, we would try to know about the classified categories of Economic indicators in details and what is Time Era.

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Classified Categories:

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1. Leading indicators:

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These indicators are to forecast trends of the overall economy.

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The indicators included in the figure are:

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interest rate spread, M2 money supply, average manufacturing work week,

manufacturers’ new orders, S&P 500, average weekly unemployment claims,

vendor performance, housing permits, consumer expectations and

manufacturer’s new orders for non-defense capital goods.

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2. Lagging indicators:

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An indicator to generate transaction signals or to confirm the strength of a given trend.

It is a measurable economic factor, for example, corporate profits or unemployment that changes after the economy has already moved to a new trend.

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3. Coincident indicators:

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It provides information on the current state of the economy.

For example, coincident indicators move up when GDP is growing and down when GDP is shrinking.

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This indicator varies directly with, and at the same time as, the related economic trend.

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The four economic statistics comprising the Index of Coincident Economic indicators are

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– Number of employees on non-agricultural payrolls,

– Personal income less transfer payments,

– Industrial production,

– Manufacturing and

Trade sales.

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Time Era:

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Knowing when each piece of information will be released is important to successful trading.

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The economic calendars are found on many websites.

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These figures helps to decide how to trade using these events, it can help explain unanticipated price actions during those periods.

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These indicators play a vital role in determining the trend or movement of the stock market & the commodities futures.

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It has been seen many times that when a positive data of these indicators like GDP or Industrial Production comes into picture & looks promising,

the trade of currencies like Euro, USD, INR; precious metals like Gold, Silver, base metals of Copper, Zinc, Lead show a positive move & short-term rally immediately.

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Stay Tuned for more and more on this 🙂

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