India is nullifying their currency - News and Current Events | futures.io
futures io futures trading


India is nullifying their currency
Started: by TraderSusan Views / Replies:184 / 5
Last Reply: Attachments:0

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 
Thread Tools Search this Thread
 

India is nullifying their currency

  #1 (permalink)
Membership Temporarily Revoked
Chicago, IL/USA
 
Futures Experience: Beginner
Platform: NT
Favorite Futures: ES
 
Posts: 12 since Nov 2016
Thanks: 0 given, 6 received

India is nullifying their currency

Anyone hear about India nullifying their currency. Crazy!. Maybe this will lead to Bit Coin as the official currency.

Forbes Welcome

Reply With Quote
The following 2 users say Thank You to TraderSusan for this post:
 
  #2 (permalink)
Elite Member
London
 
Futures Experience: Intermediate
Platform: Sierra Charts
Broker/Data: CQG
Favorite Futures: ES, CL
 
Posts: 558 since May 2016
Thanks: 1,034 given, 433 received

Surely gold would be the peoples choice?

Sent using the futures.io mobile app

Reply With Quote
 
  #3 (permalink)
Elite Member
Union City + CA
 
Futures Experience: Intermediate
Platform: Multicharts.NET,Motivewav
Favorite Futures: CL
 
Posts: 7 since Jun 2014
Thanks: 48 given, 5 received


they are only replacing 500 and 1000 note with new 500 and 2000 note.

>The first objective is to address counterfeit currency that Pakistan doing and pushing it to India to finance Terrorism.
India has no effective way of detecting the fake currency so they took the drastic step of replacing in the hope that it will slowdown the counterfeiting for the time being. The new notes have more security features and hopefully slowdown counterfeiting.

>The second objective is to address black money. A lot of people have black money in cash to avoid tax. Force them to declare or loose money.

>The third objective is to push people towards cashless system to avoid these problem longterm.
In India currently only 2% of total transactions are electronic.

Reply With Quote
The following user says Thank You to bpr0 for this post:
 
  #4 (permalink)
Trading for Fun
chennai/india
 
Futures Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 62 since Sep 2015
Thanks: 69 given, 71 received


bpr0 View Post
they are only replacing 500 and 1000 note with new 500 and 2000 note.

>The first objective is to address counterfeit currency that Pakistan doing and pushing it to India to finance Terrorism.
India has no effective way of detecting the fake currency so they took the drastic step of replacing in the hope that it will slowdown the counterfeiting for the time being. The new notes have more security features and hopefully slowdown counterfeiting.

>The second objective is to address black money. A lot of people have black money in cash to avoid tax. Force them to declare or loose money.

>The third objective is to push people towards cashless system to avoid these problem longterm.
In India currently only 2% of total transactions are electronic.

OMG, more security features means? Just its a paper,How 'll implement more security features?

Reply With Quote
 
  #5 (permalink)
Elite Member
Union City + CA
 
Futures Experience: Intermediate
Platform: Multicharts.NET,Motivewav
Favorite Futures: CL
 
Posts: 7 since Jun 2014
Thanks: 48 given, 5 received

Futures Edge on FIO

Which time slot for our live webinar events works best for you?

 

yawaniga View Post
OMG, more security features means? Just its a paper,How 'll implement more security features?

To make it more difficult to counterfeit ...Google it pls ...

Sent using the futures.io mobile app

Reply With Quote
 
  #6 (permalink)
Trading for Fun
chennai/india
 
Futures Experience: Intermediate
Platform: Ninja Trader
Favorite Futures: oil
 
Posts: 62 since Sep 2015
Thanks: 69 given, 71 received


bpr0 View Post
To make it more difficult to counterfeit ...Google it pls ...

Sent using the futures.io mobile app

skip it counterfeit currency, just curious about new currency security features.

Reply With Quote

Reply



futures io > > > > India is nullifying their currency

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Prototyping Trading Strategies in Python w/Ran Aroussi (1PM Eastern US)

Elite only
 

NinjaTrader 8: Tips and Tricks (part 2)

Mar 2
 

An Afternoon With FIO member @michaelleemoore

Elite only
 

Jigsaw Trading: Keys to successfully trading the open

Mar 9

Macro view: Trump Market Risk w/Piers Curran @ Amplify Trading

Elite only

Reading the Psychology of the Market w/Brett Steenbarger & Trading Technologies

Elite only

Hybrid Machine Learning (R and TradeStation) w/Murray Ruggiero

Elite only

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Market Data for India in NT DavidHP Brokers and Data Feeds 10 October 28th, 2016 07:40 PM
Hello from India SurtiTrader Beginners and Introductions 3 August 25th, 2014 04:04 AM
currency future vs spot currency? strike333 Currency Futures 19 June 23rd, 2014 07:44 AM
Account Currency not equal to Base or Counter Currency caliph Currency Futures 4 February 13th, 2012 02:15 PM


All times are GMT -4. The time now is 07:19 PM.

no new posts
Page generated 2017-02-23 in 0.10 seconds with 19 queries on phoenix via your IP 54.211.193.74