Gold gave up gains on Tuesday after scaling record highs as the dollar regained some ground, although simmering U.S.-China tensions and bets that the U.S. Federal Reserve would maintain its dovish policy stance kept demand solid for the metal. Spot gold was steady at $1,941.23 per ounce by 0707 GMT, but off its peak of … Read more
Mumbai: The record high forex reserves of $516 billion, of which $81 billion added since governor Shaktikanta Das has assumed office, will help greater foreign fund inflows and lower the cost of overseas funds for corporates, says a report. Governor Das’ efforts since assuming office in December 2018, resemble those of the Bimal Jalan-YV Reddy … Read more
Mumbai: The rupee depreciated 9 paise to settle at 75.02 (provisional) against the US dollar on Wednesday tracking volatile domestic equities, rising crude oil prices and strengthening American currency. While foreign fund inflows supported the rupee, factors like strong dollar, volatile domestic equities and rising COVID-19 cases dragged the local unit down, Forex traders said. … Read more