After the Indian Central Bank pulls 2000-rupee notes out of circulation, the Indian rupee is poised to depreciate and is expected to weaken further against the U.S. dollar. The withdrawal of the highest value currency note in circulation is a big move from the central bank. Tradecurve addresses these conditions and offers a solution to the unbanked population, with a borderless hybrid trading platform.
No More 2000-Rupee Bills
The announcement came on Friday, and with that, the Reserve Bank of India retracted the highest denomination note, taking it completely out of circulation. Analysts expect a significant impact on the currency, and a decrease in price will soon be felt.
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The dovish stance of the U.S. Federal Reserve Chair Jerome Powell doesn't help the situation. As Powell said on Friday, "it is still unclear if U.S. interest rates will need to rise further."
So what does India's decision to scrap its 2000-rupee note mean for the economy?
Cryptocurrencies are gaining increasing popularity, and the majority of India's population sees stablecoins as the only method to access the U.S. dollar. The 2000-rupee notes were introduced in 2016, but the central bank has stated frequently in the past that it wants to reduce high-value notes in circulation and had already stopped printing 2000-rupee notes four years ago.
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The value of 2000-rupee notes in circulation is 3.6 trillion Indian rupees, a little over $44 billion, and amounts to about 10% of the currency in circulation. Small businesses could see inconvenience in the near term, but it is expected that these notes will be used more for purchases than for depositing in bank accounts.
USD INR is trading at 82.6 at the time of writing, and if support at 82 falls, a move to 80 and below is likely given the ongoing scenario in the country. This is just one example of how retail traders are facing a hard time accessing the markets, and Tradecurve addresses this exactly with an easy-to-onboard hybrid trading platform.
Tradecurve Has a Solution
Tradecurve.io addresses the hurdles traders face such as those in India. Tradecurve requires no KYC and aims to maintain the anonymity that blockchain technology provides to offer a borderless solution.
The onboarding process is simple and straightforward; it requires only an email address and connecting your wallet. Spot trading of forex, stocks, commodities, bonds, and more is instantly possible.
Tradecurve combines traditional markets with the advantages of DeFi and offers access to multiple global markets from a single account with features like algorithmic trading, negative balance protection, and their Metaverse Trading Academy.
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The high leverage offered, starting at 500:1, provides enough buying power for small accounts. Tradecurve uses cryptocurrency deposits as collateral and doesn’t require any KYC procedures.
The Ethereum-based ecosystem hosts the native TCRV token, which can be staked to earn passive income.
The copy trading feature implemented in the platform enables experienced traders to monetize their trades, and their followers have the chance to earn while they learn.
The platform offers deep liquidity and fast order execution with a clear focus on user privacy and anonymity.
Tradecurve challenges the existing system and is currently in stage 3 of the presale with only 40% of the total 1.8 billion available for purchase in the presale.
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Experienced traders look forward to the new and exciting possibilities that come with the sophisticated Tradecurve platform and anticipate a 50x increase for TCRV in the presale and a 10,000% gain after listing on major exchanges.
TCRV is up 50% since the start of the presale and is available at $0.015.
For more information about TCRV presale tokens:
Website: https://tradecurve.io/
Buy presale: https://app.tradecurve.io/sign-up
Twitter: https://twitter.com/Tradecurveapp
Telegram: https://t.me/tradecurve_official
