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(table 15)
No. of respondent in %
76
24
(Chart 1)
male gender are more interested in
76% which cover large
sitive sign that the women
is shows the increasing education level of
Age (years)
Age (years):
20 30
30 40
40 50
50 & Above
Interpretation:
The chart reflects age vise division of currency in
people having between 30 to 40 years is more intere
of currency market is more in this age group & risk
group, any broking firm can target this age group a
40 to 50 years are invest more in currency market.
No. of respondent
The chart reflects age vise division of currency investor; we can see that the number of
people having between 30 to 40 years is more interested in currency market. The
of currency market is more in this age group & risk taking aptitude is more than other age
group, any broking firm can target this age group and can get benefits, at second age between
40 to 50 years are invest more in currency market.
A
(table 16)
No. of respondent
in %
20
52
15
13
(Chart 2)
vestor; we can see that the number of
sted in currency market. The awareness
taking aptitude is more than other age
nd can get benefits, at second age between
Education Qualification:
Education Qualification
H.S.C
Graduate
Post Graduate
Other
Interpretation:
The above graph shows the education level
graduate & 32% of the respondents were post graduate. The gradua
invest in currency market. Majority of the investor
majority investors are graduate & taking much in
criteria investors can be targeted to get benefit t
PSC
No. of respondent No. of respondent in %
ph shows the education level of investor. There is 54% of the respondent were
% of the respondents were post graduate. The graduates are more interested to
invest in currency market. Majority of the investor in currency market are graduates.
majority investors are graduate & taking much interest in currency market these education
criteria investors can be targeted to get benefit to attract by broking firm.
PSC C C C
No. of respondent in %
10
54
32
4
(Chart 3)
he respondent were
tes are more interested to
in currency market are graduates. The
terest in currency market these education
Occupation:
Occupation
Business
Self employment
Service
Student
House Wife
Other
Interpretation:
The 44% of the investors were having business & on
service. The awareness of currency market. The majo
business of import & export. The main object of the
No. of respondent No. of respondent in %
The 44% of the investors were having business & on second the 26% of investors are having
service. The awareness of currency market. The majority of the business men were having
business of import & export. The main object of their investment in currency was hedging.
No. of respondent in %
(Chart 4)
% of investors are having
rity of the business men were having
ir investment in currency was hedging.
8
S
S
S
P W
C
Annual Income (Rs):
Annual Income (Rs):
2, 00,000
2, 00,000- 3, 50,000
3, 50001- 5, 00,000
5, 00,001
Interpretation:
The income criteria of the investors were 40% of th
350000 to 500000 Rs. And on second position 38% of
2lakhs to 3.5lakhs. the income of the investor in t
currency market. The income between 3.5 to 5 lakhs is more investing in
and is having business.
A l 8
No. of respondent No. of respondent in %
4
19
20
7
The income criteria of the investors were 40% of the investor are having income of between
350000 to 500000 Rs. And on second position 38% of investors were having income between
2lakhs to 3.5lakhs. the income of the investor in the main influencing factor
income between 3.5 to 5 lakhs is more investing in
No. of respondent in %
8
38
40
14
(Chart 5)
e investor are having income of between
investors were having income between
he main influencing factor of inflow for the
income between 3.5 to 5 lakhs is more investing in currency market
1. What are investment avenues which you are presently
Interpretation:
The graph reflects the investment avenues of the re
investing in currency and also invest in several av
equity. On second 14 respondents are investing in c
insurance, sip, & bonds are not so popular to inves
also use to invest in currency market. The awarenes
but as a view of future its a developing market.
S
investing?
(Chart 6)
spondent. This all respondents are
enues. The 41 respondents are investing in
ommodity. The ipo, mutual fund,
t in. the much number of equity investors
s of currency market is very less in India
2. In Which currency do you prefer to invest?
Currency
USD
EURO
GBP
YEN
OTHER
Interpretation
The survey I have carried out in which 40
more trading volume in USD. The EURO is on second p
respondent prefer to invest in EURO.
more respondent prefer to invest in USD. The volume
the other currencies.
P
What is the primary objective of your investment in currency?
No. of respondent No. of respondent in %
The table reflects that there are 46% of the respondents are investing in currency for
hedging purpose. Main and primary object to invest in currency is hedging and on second
stage speculation is also a one object to invest in currency market. The investor of currency
was having business of import & export. They get benefit from the currency by hedging. The
broking firm can target the importer or exporter for new customers.
P v S
No. of respondent in %
46
34
16
4
(Chart 8)
% of the respondents are investing in currency for their
in currency is hedging and on second
The investor of currency
nefit from the currency by hedging. The
4. What is the time duration you invest in currency?
Time period
Intraday
Less than 1 months
1-2 months
2-3 months
More than 3 months
Interpretation
The time period for holding currency by the inve
respondent hold investment for less than 1 month and the 20
to 2 months in currency. There are only 4
market.
l L
What is the time duration you invest in currency?
No. of respondent No. of respondent in %
The time period for holding currency by the investor is less than 1 month, the 5
for less than 1 month and the 20% of respondent were hold for 1
hs in currency. There are only 4% of respondent do intraday trading in currency
L
No. of respondent in %
10
52
28
6
4
(Chart 9)
than 1 month, the 52% of the
% of respondent were hold for 1
% of respondent do intraday trading in currency
5. What factors do you determine at the
Factors to determine
Economy
Political
Industrial
Export-Import
Infrastructure
Other
Interpretation
As pre the survey 40% of the respondent determines economic factors bef
currency and 24% of the respondent determine the export & import p
before investing in currency market.
factors before investing. The main factors affect the currency rates are econ
the export-imports of the country.
L
What factors do you determine at the time of investing in currency?
No. of respondent No. of respondent in %
% of the respondent determines economic factors bef
% of the respondent determine the export & import position of the country
before investing in currency market. The 20% of the respondent were determine industrial
The main factors affect the currency rates are econ
imports of the country.
l Ll l
time of investing in currency?
No. of respondent in %
40
10
20
24
6
0
(Chart 10)
% of the respondent determines economic factors before investing in
osition of the country
ere determine industrial
The main factors affect the currency rates are economic factors and
l C
6. How many percentage of money do you invest in curre
10 %
11 % - 20 %
21 %- 30 %
31 %
Interpretation:
The criteria for investing money from the income are 50% of respondent inv
money and the second position is
income in currency market. The %age of investing in currency is around 11 to 2
How many percentage of money do you invest in currency from your income?
No. of respondent No. of respondent in
%
ing money from the income are 50% of respondent inv
ey and the second position is 22% of respondent invest less than 10
The %age of investing in currency is around 11 to 2
ncy from your income?
No. of respondent in
22
50
18
10
(Chart 11)
ing money from the income are 50% of respondent invest 11 to 20% of
22% of respondent invest less than 10% of money from
The %age of investing in currency is around 11 to 20% majorly.
7. Which currency do you most rely on?
USD
EURO
GBP
YEN
OTHER
Interpretation
Form the above mention graph we can analyze the gre
for future investment there are grater no. of i
respondent are relay on the USD and on s
22 % of the respondent thinks that GBP will rise in
of USD & EURO are higher in future.
Type of return you expect in currency market?
2 3 4
6 16 22
12 32 44
In the survey I have used liker scale, a 5 point scale to measure the return from the currency
the respondents response 32% of respondent were neutral and 44
think currency market gains high return. But 4% of respondent think they gain
very good return in currency market. The rates of the currency dont vary much in a day.
arket is future market. The investor can earn a handsome profit from this
investment with long term investment.
5
4
8
(Chart 13)
ale to measure the return from the currency
f respondent were neutral and 44% of
% of respondent think they gain
The rates of the currency dont vary much in a day.
dsome profit from this
9. How much riskier is Currency Market?
Low 1
No. of
respondent
20
No. of
respondent in %
40
Interpretation:
The risk in currency market is very low only becaus
volatile. As per the respondents statement the
of respondent think that currency market i
answered that currency market is high risky. As far
less volatile & the similarly less speculate. Curre
than investing in equity or commodity.
How much riskier is Currency Market?
2 3 4
16 10 3
32 20 6
The risk in currency market is very low only because of the currency rates were not so
volatile. As per the respondents statement there are 20% of respondent were neutral & 40
of respondent think that currency market is less risky in nature but the 6% of respondent were
answered that currency market is high risky. As far as my opinion the currency rates were
less volatile & the similarly less speculate. Currency market is a good option to invest rather
or commodity.
5
5
1
2
(Chart 14)
e of the currency rates were not so
of respondent were neutral & 40 %
% of respondent were
as my opinion the currency rates were
ncy market is a good option to invest rather
10. Which service of broker you give highest weight age
Particulars
Research & Advisory Based Call
Less Margin
Low Brokerage
Good Trading Software
Interpretation:
Here I have used rank order to measure the customer
from the broker. There are several type of investor
respondent rated Research & Advisory call on the fi
prefer the low brokerage. The fewer margin is on th
forth good trading software is preferred. The perso
good trading software. And the most p
attract new clients broker can attract with low bro
8
A 8 C
S S S S
4
4
14
2
31
(Chart 15)
s preference towards service provided
s and their preference also varies. The 20
st rank. On second rank 20 respondent
ird position 24 respondent rank it & on
n who does online trading are prefer a
referable service is advisory calls & low brokerage. To
kerage slab & research & advisory call.
C 1
S
Chapter 8. Conclusion
The survey I have carried out on Impact of currency market in India. The conclusion of the
survey is as follows.
The awareness of the forex market in India is very low in compare to other financial
instruments. Only fewer people know about the currency trading. As the gender wise male
investors are more investing than women investors. But the education level is as well a
positive sign of women also taking interest in forex market. The equity and commodity
investors are as well investing in currency. In India USD, EURO, GBP, and JPY are the
currencies been traded most.
USD and EURO are the most preferred currency in response from the respondents. there is
high volume in this two currency pair in India. USD is on first position to trade in India, as
per the data of MCX-SX the volume of USD/INR of June contract 3588917 in lots as on 3
rd
June 2011. The EURO is on second to be traded in India. The data of MCX-SX volume in
EURO/INR is 156556 in lots, as on 3
rd
June 2011. GBP and JPY are been traded in India on
3
rd
and 4
th
position respectively. The volume in GBP/INR was 58255 in lots and volume in
JPY/INR was 23628 in lots as on 3
rd
June 2011 respectively.
In future 36% & 32% of respondent are relay on USD & EURO respectively. But in future as
per the report of Bank Of Japan Change in the total quantity of domestic currency in
circulation and current account deposits held at BOJ, It's positively correlated with interest
rates-early in the economic cycle an increasing supply of money leads to additional spending
and investment, and later in the cycle expanding money supply leads to inflation. This release
would be affect the JPY rate.
The earning in currency market is low in comparison of Equity or Commodity market. The
volatility in currency rates is very less. It doesnt volatile as equity or commodity market. The
risk is also very less in the currency market. The main or primary object of investing in
currency market by investor is hedging. More number of respondents is connected in the
business of Import-Export. They use to hedge the currency market for future payment and
earn the deference.
The impact of currency market in Indian economy can be measure from the Gross Domestic
product and Gross national product. The GDP of current year if 7.8%. It is a positive in
compare to last financial year; the second factor is foreign reserve. As on may 2011 India is
having $ 3010 billion of foreign reserve as per the IMF data. Export of the country is as well
increased as exports surged by 37.5 per cent for the financial year ended March 31, 2011 to
touch $245.9 billion shooting well past the $200-billion target set for the year. Currency
market in India is having a wide scope for development in future.
Chapter 9 Annexure
9.1 Questioner
Dear Sir/Madam.
I am student of M.B.A at Ganpat University, undergoing Summer Internship Program at Religare
Securities Limited, Ahmadabad. Undergoing a Project report on Impact of Currency Market in
Indian economy. So give your opinion for the same, the information will not be disclosed and will
be used for project purpose.
[Note- please tick() to your selected option]
Name
Gender: [ ] Male [ ] Female
Age (years): [ ] 20 30 [ ] 30 40
[ ] 40 50 [ ] 50 & Above
Education Qualification:
[ ] H.S.C [ ] Graduate
[ ] Post Graduate [ ] Other
Occupation: [ ] Business [ ] Self employment [ ] Service
[ ] Student [ ] House Wife [ ]Other
Annual Income (Rs):
[ ] 2, 00,000 [ ] 2, 00,000- 3, 50,000
[ ] 3, 50001- 5, 00,000 [ ] 5, 00,001
1. What are investment avenues which you are presently investing?
[ ] Equity [ ] Currency [ ] Commodity
[ ] IPO [ ] Mutual Fund [ ] Insurance
[ ] SIP [ ] Bonds [ ] Other
2. In Which currency do you prefer to invest?
[ ] USD [ ] EURO [ ] GBP [ ] JPY
[ ] Other__________
3. What is the primary objective of your investment in currency?
[ ] Hedging [ ] Volatility [ ] Speculation
[ ] Arbitrage [ ] Other_________
4. What is the time duration you invest in currency?
[ ] Intraday [ ] Less than 1 months [ ] 1-2 months
[ ] 2-3 months [ ] more than 3 months
5. What factors do you determine at the time of investing in currency?
[ ] Economy [ ] Industrial [ ] Political
[ ] Export-Import [ ] Infrastructure [ ] Other__________
6. How many percentage of money do you invest in currency from your income?
[ ] 10 % [ ] 11 % - 20 %
[ ] 21 %- 30 % [ ] 31 %
7. Which currency do you most rely on?
[ ] USD [ ] EURO [ ] GBP
[ ] JPY [ ] Other__________
8. Type of return you expect in currency market?
Low 1 2 3 4 5 High
9. How much riskier is Currency Market?
Low 1 2 3 4 5 High
10. Which service of broker you give highest weight age? (Rate among 1 to 4)
Particulars Rank
Research & Advisory Based Call
Less Margin
Low Brokerage
Good Trading Software
11. Any suggestions for Religare Securities Limited./Improvement in service (feedback)
__________________________________________________________________________________
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Chapter 10. Bibliography
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