Vedanta shares plunged 7% to Rs 410 in Monday’s trade on the BSE after the US dollar reached a record peak against the Indian rupee and other global currencies. The Indian rupee weakened past Rs 87 per US dollar for the first time, following President Trump’s tariff impositions on the country’s largest trading partners, driving … 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 depreciated to an all time low during the day, but ended slightly stronger at 85.01 per US dollar on a closing basis, due to the rebalancing of FTSE’s equity index and interventions from the Reserve Bank of India, traders said. The rupee hit a low of 85.10/$1 during the day, before closing … Read more
Central banks from Brazil to Indonesia scrambled to defend their struggling currencies on Thursday, hours after the Federal Reserve jolted markets by indicating it may not cut rates by much next year. The Fed’s tacit acknowledgement of the inflationary risks likely to come from incoming president Donald Trump’s immigration and trade policies unnerved investors. U.S. … 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
Domestic gold surged to a fresh all-time high as the most active MCX near-month futures boomed to Rs 63350 per ten grams last week. Firm overseas prices, weak Indian rupee and expectations of an increase in jewelry demand and peak wedding season propelled the sentiment towards the metal. The Indian trade body is expecting business … Read more
Unveiling the much-awaited Foreign Trade Policy, Commerce Ministry on Friday broke the tradition of a policy lasting for five years and will instead adopt a ‘long-term’ focus. There is no end date to the policy and will be updated as and when necessary, the ministry said. Source link
The dollar’s value has risen to a record level as a result of aggrieved tightening by the Fed. With the objective of reducing volatility in the rupee’s movement, the RBI has been actively intervening in the forex market. Since Mar’22, when the US Fed undertook its first rate hike, the RBI net sold ~USD90bn worth … Read more
The Indian rupee is likely to strengthen to 78.50-79.50 against the dollar by March 2023, as commodity prices stabilise globally and improving domestic fundamentals lure back foreign portfolio inflows, the country’s top private lender said. The rupee has has weakened 7.5% so far in the 2022 calendar year, trading close to a record low of … Read more
The Indian rupee‘s fair value is around 80 against the U.S. dollar, given the country’s balance of payment challenges and the Reserve Bank of India‘s interventions, JPMorgan‘s head of emerging Asia local markets strategy said. India‘s balance of payments, a measure of how much the country relies on money from abroad, has been squeezed by … Read more