What is the impact of an INR exchange rate of 0.9 on the cryptocurrency market?

1 answers

• Dec 28, 2021 · 3 years ago
  At BYDFi, we believe that the impact of an INR exchange rate of 0.9 on the cryptocurrency market can be significant. A lower exchange rate can make it more expensive for Indian investors to buy cryptocurrencies, which may lead to a decrease in demand. This decrease in demand can potentially result in a decrease in the value of cryptocurrencies. However, it's important to consider that the cryptocurrency market is highly volatile and influenced by various factors. The impact of the INR exchange rate on the market may be temporary and can be offset by other market trends and investor sentiment.
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