Sat. Nov 28th, 2020

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Yet another good day for Indian Rupee

1 min read

On Monday, at the inter-bank foreign exchange, the rupee climbed by 21 paise 76.25 US dollar. This tracks positive domestic equities and crippling of the American currency globally due to the catastrophe.

The rupee opened higher at Rs. 76.14 and touched an intra-day high of Rs. 76.05 in morning trade.

Forex traders said the uptick in the currency counter was largely due to expectations of more stimulus measures from central banks to support their respective economies reeling under the COVID-19 pandemic.

The domestic unit, however, pared some initial gains and finally settled at 76.25, registering a rise of 21 paise over its previous close. On Friday, the local unit had settled at 76.46 against the US dollar.

Equity benchmark Sensex settled 416 points or 1.33 per cent higher, led by gains in financial stocks as RBI’s Rs 50,000-crore stimulus to mutual funds and positive cues from global markets buoyed investor sentiment. The NSE Nifty rose by 127.90 points, or 1.40 per cent.

 

 

 

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.