Tue. Oct 4th, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Rupee falls sharply against US dollar today, slides past 76 per USD

1 min read

Indian rupee today fell sharply against the US dollar amid a selloff in domestic equity markets, increased global risk-off sentiment and broad strength in the greenback. The rupee was down at 76.10 per US dollar in early trade as compared to previous close of 75.78 per USD in the previous session.

The Sensex was down over 800 points in tandem with a selloff in global markets. Overnight, all three major US stock market indices plunged over 5% each. The US dollar index, which measures the greenback against a basket of major currencies, was up 0.12% to 96.855 today, after strong overnight gains, indicating a flight to the safety of the dollar.

“Tepid economic recovery projected by the Fed, signs of a second wave of cases in US cities that took the lead in opening up and elevated ‘continuing jobless claims’ caused investors to question the recent euphoria and conduct a reality check,” said Abhishek Goenka, founder and CEO, IFA Global.

“The US dollar has staged a comeback against the emerging market currencies and G7,” he added.

April industrial production and May consumer price inflation data will is due post market hours today.

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.