Introduction: Currency futures launched at NSE on Aug 29, 2008 is seen as a platform that is particularly expected to help small- and mid-sized companies to hedge their risks while dealing in foreign exchange. With increasing globalisation and robust performance of the economy, India's share in global transactions has increased sharply.
In the light of this, Ganesha defines the role of currency futures in future. But, before we proceed, it is important for you to understand the meaning of currency futures.
Currency futures are standardized foreign exchange derivative contracts traded on a stock exchange to buy or sell one currency against another on a specified future date, at a price specified on the date of contract, but does not include a forward contract.
Date of Launching: August 29, 2008
Time : 8.45 a.m.
The elements Fire, Earth, Air and Water are not in harmony.
Note: Any imbalance in the interplay of the below stated forces can result in chaos.
On analyzing the time of launching the Currency Derivatives, Ganesha finds that it has Virgo Ascendant. Mercury, the Lord of the Ascendant and the Lord of Profession is posited in its own house. Venus, the destiny Lord and the Lord of Economics is posited in the first house, which is debilitated. Mars, the Lord of the eight house, is also in the first house, which is unfavorable. In short, the whole combination is inauspicious.
The position of Rahu in the fifth house pronounce unfavorable results. There may be fluctuations, and the rupee may show signs of weakening. Saturn, the Lord of the Fifth house, and the Lord of the sixth house is posited in the twelfth house. The position of Saturn in the 12th house is not considered favorable. It creates an illusion which is not realistic. The actual value becomes difficult to realize.
Ganesha also views Kaal Sarp Yoga in the derivatives chart, which again indicates heavy fluctuations in the currency rates.
What Next ?
A tough period ahead foresees Ganesha as Mercury, Sun, Jupiter and Rahu are transiting through the fifth house (the house of speculation), where the solar eclipse occurs.
Mercury is under the favorable phase of Venus till March 13, 2009. Currency will sustain the fall during this phase. Moreover, Mercury middle phase of Sun will also follow. During this phase Indian Currency will attract foreign investment.
Mercury is exalted in the first house. Jupiter, Sun and Moon are posited in its own sign. This combination will rate money on fluctuating, but on favorable terms.
The GaneshaSpeaks Team