Which cryptocurrencies are most affected by fluctuations in the dollar to Indian rupee exchange rate?

3 answers

• Dec 15, 2021 · 3 years ago
  Cryptocurrencies that are most affected by fluctuations in the dollar to Indian rupee exchange rate are those that have a significant trading volume in the Indian market. Since the value of these cryptocurrencies is often quoted in terms of the US dollar, any change in the exchange rate between the dollar and the rupee can have a direct impact on their value in the Indian market. This can lead to increased volatility and trading activity for these cryptocurrencies.
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• Dec 15, 2021 · 3 years ago
  The cryptocurrencies that are most affected by fluctuations in the dollar to Indian rupee exchange rate are usually the ones that have a strong presence in the Indian market. These cryptocurrencies are often used for remittances and cross-border transactions, and any change in the exchange rate can affect the cost and efficiency of these transactions. As a result, the demand for these cryptocurrencies may increase or decrease, leading to price fluctuations.
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• Dec 15, 2021 · 3 years ago
  According to a study conducted by BYDFi, the cryptocurrencies that are most influenced by fluctuations in the dollar to Indian rupee exchange rate include Bitcoin, Ethereum, Ripple, and Litecoin. These cryptocurrencies have a large user base in India and are widely traded on Indian exchanges. Changes in the exchange rate can impact the value of these cryptocurrencies, as well as their trading volume and liquidity in the Indian market.
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