The Indian rupee strengthened marginally to 87.53 a dollar Friday on likely intervention from the Reserve Bank of India (RBI), capping off a rough and tumultuous week punctuated with unexpectedly punitive tariffs on US-bound shipments from the country. Traders said sustained portfolio outflows and a significantly higher baseline tariff than anticipated earlier led to substantial … Read more
“The Fed is supposed to be independent. It is not supposed to play politics and Trump is risking reducing the credibility of the Fed and which has an impact obviously on the bond market, on the currency markets, on all the financial markets by continuing to bash Powell,” says Ed Yardeni, Yardeni Research.Let us first … Read more
“We are just going to have to see how that plays out. It is still a little early to see what the total reaction is to that, but I do not see any drivers for the dollar to have some significant rise and it does look like emerging markets may be a modest beneficiary of … Read more
“Investors look at growth rates and stocks are supposed to be indicators of expectations for the future and a weakening dollar and continued growth in emerging markets is very positive for emerging markets,” says Seth R Freeman, GlassRatner Advisory.What is happening in the world, one side there is this interplay between weakness in dollar index … Read more
Gold traded rangebound on Monday amid a lack of triggers from international markets. The August MCX gold contracts moved within a 650-point range while slipping into the red. The weakness could be attributed to easing US–China trade tensions, while a higher-than-expected U.S. jobs report dampened expectations of interest rate cuts by the Federal Reserve. Lower … Read more
Amid a rebound in the dollar index, gold June futures contracts at MCX opened flat at Rs 95,230/10 grams, marginally higher by Rs 87 or 0.09% after the yellow metal settled lower in the previous trading session. However, around 11 am, the metal witnessed buying from the lower levels and was trading 0.36% higher at … Read more
The Reserve Bank of India’s (RBI) foreign exchange reserves rose by $15 billion in the week ended March 7 to $653.9 billion. These are the sharpest single-week gains in over two years when reserves had risen by $14.7 billion in the week ended November 11, 2022, RBI data showed. Economists said the key reasons behind … Read more
Mumbai :The Indian rupee weakened slightly Wednesday but closed at another record low on New Years’ Day, pressured by dollar bids from importers. The rupee closed at 85.645 against the US dollar, down from its close of 85.615/$1 in the previous session, LSEG data showed. The currency closed at record low levels for the seventh … Read more
The Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to … Read more
“I feel that there is tremendous amount of interest outside the banking space and that is again very important because the market is broadening, the sectors are broadening, the themes that are playing out a lot more and this is very important because this makes the longer-term trend much more solid and robust,” says Atul … Read more