RBI Burned $8 Billion in One Week — Is Your Rupee Safe?
The rupee bounced to 95.20 but RBI's forex reserves took a brutal $8.1 billion hit in a single week — here is what every Indian investor needs to understand right now.
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FXTM launched the first Olympic Trading Competition
Abstract：FXTM Launches the First Olympic Trading Competition: Battle for the Trading Throne!
FXTM is excited to announce its first-ever Olympic Trading Competition, where traders from around the world can compete for the ultimate title of Trading King. This thrilling contest offers a grand prize of up to $18,000 for the top trader, along with weekly lucky draws where participants can win a brand-new iPad!
Competition Details:
Duration: July 15, 2024, to August 23, 2024
Grand Prize: $18,000 for the champion trader
Weekly Prizes: One lucky winner every week will receive a 10.9-inch iPad (256GB)
How to Participate:
Register: Log in or sign up for an FXTM account.
Deposit: Make a minimum deposit of $200 to be eligible.
Trade: Execute trades with a minimum notional value of $1,000,000.
Compete: Show off your trading skills and climb the leaderboard for a chance to win big.
In addition to the grand prize, FXTM is hosting a weekly lucky draw where one eligible participant will win an iPad. The lucky draw is held every week, adding an extra layer of excitement to the competition.
For more details and to join the competition, visit the official FXTM website. Don't miss this opportunity to prove your trading prowess and take home amazing prizes!
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Further Reading
CMC MARKETS Analysis Report
CMC MARKETS presents a mixed picture for forex traders, earning a moderate overall rating of 6.4 out of 10 based on 228 reviews and a "Use with Caution" designation. The broker demonstrates notable strengths that have resonated with the majority of its client base, particularly its user-friendly interface that simplifies the trading experience, responsive customer support that addresses initial inquiries effectively, and a solid reputation for safety that provides some reassurance to traders. These positive attributes are reflected in the sentiment distribution, where 150 reviews were positive compared to just 47 negative ones, suggesting that many traders have had satisfactory experiences with the platform. However, the 20.6% negative rate cannot be ignored, as it highlights recurring concerns that potential clients should carefully consider.
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What? The Rupee’s Fall from 90 to 95 Remains the Fastest Five-Point Decline in a Decade!
No, we are not kidding! The rupee has indeed hit this low, from 90 to 95 against the US dollar, the fastest in nearly a decade, highlighting the slump due to rising crude oil prices and global uncertainty from the series of adverse events related to the geopolitical conflict in the Middle East. It just took five months for the rupee to weaken from 90 to 95, the sharpest five-point depreciation since the 2013 taper tantrum. During this period, the rupee declined from 60 to 65 within a month amid concerns over India’s current account deficit and large capital outflows.
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Top Trends in India’s Forex, Gold and Stock Markets Today
While it was a flat day for India’s benchmark stock indices (Sensex & Nifty), there was a sort of recovery for the rupee in the foreign exchange market on May 21, 2026. Giving investors more reasons to enjoy was another bull run for gold, which is touching the 16K threshold for 10 grams. Taking three markets combined, the overall sentiment remains mixed for investors. Here is how the day panned out for investors across these markets.
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