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Varanasi Bomb Injures 7 Foreigners – Fear of Global

At least 25 people were  hurt  in the India, in the city of  Varanasi, which is a holy place for Hindis. At least 7 foreigners were among the  victims  in this attack, that happened at 18:00, local time.

The city is a popular place for tourists from all over the world. At least 7 foreign nationals were injured. The local police suspects this is a terror attack. The last big terror attack in India happened in 2008 in Mumbai, when bombs exploded in multiple locations in the city.

There is fear of a new wave of terror attacks. If this only a local event, there will be no impact on currencies, apart from forex in India – the Indian rupee will drop. If this even’t isn’t isolated, the US dollar, Japanese yen and Swiss franc will rise, as they are safe haven currencies that ride on fear.

USD/INR now trades at 44.63. The initial news about the blast sent up, almost to 45, but it settled afterwards.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.