Wednesday’s opening rate for the Indian rupee was higher than yesterday’s close of 81.72, at 81.64 to the dollar. As domestic equities markets do well, Asian counterparts perform well, and the dollar weakens, the local currency is anticipated to rise. The rupee lost ground versus the US dollar in the previous session as the outlook…
When cultivating pulses in the kharif season, N Venkatappa, a farmer in Vathugundla village in Telangana’s Narayanpet district, typically grows groundnut as the second crop. But he wanted to give cotton a try this time. “I have ensured irrigation and a borewell. My choice has generated a great deal of curiosity from my fellow farmers,”…
The G7 price cap and EU penalties are drawing nearer, but S&P Global Commodity Insights reported on Tuesday that there are rising indications that the curb poses a “minimal threat” to Russian oil revenues because refiners in China, India, and Turkey are anticipated to take in more of the oil. S&P Global Commodity Insights reported…
Despite the Center’s restrictions on exports of non-basmati white rice and the imposition of a 20% export levy, Indian rice remains competitive on the international market. Although prices have increased by over $30 a tonne over the last two months, Indian cereal remains competitive.”The worldwide market for rice continues to be quite competitive for Indian…
In a formal press statement, the Reserve Bank of India stated that the pilot programme for retail digital rupee will begin on December 1, 2022.Users will be able to conduct transactions with e-R using a digital wallet provided by the collaborating banks and kept on mobile phones and devices, according to the statement. The closed…
The farmer in Madhya Pradesh harvested a soyabean crop from his 10 acres of land in this Kharif season that amounted to about 55 quintals. Nearly 20 quintals, at an average cost of Rs 5,400 each, have been sold by him thus far in the open market. Selling oilseeds earned him close to Rs 6,500…
A weaker US dollar and anticipation of U.S Federal Reserve Chair Jerome Powell’s speech later this week, which may provide hints on the direction of monetary policy, sent gold prices to a more than one-week high on Monday. spot Gold was flat at $1,755.38 per ounce, having earlier in the session reached its highest level…
Prices for groundnuts have risen to as much as Rs 2000 per 20 kg in some mandis in Gujarat due to processors and oil millers anticipating a smaller Kharif harvest of 2.5 million tonnes in the current season as opposed to over 3.5 million tonnes in the previous season. Farmers in Jamnagar district’s Hapa mandi…
Rupee recovered some of its strength from the prior week and retreated to 81.50 levels, while the dollar retreated to 105.60 levels. The FOMC meeting minutes revealed that the majority of the officials believe the central bank should limit the rate of interest rate hikes, which caused the dollar to lose strength. Additionally, the rupee…
In November, foreign portfolio investors (FPIs) made a net investment of Rs.31,630 crore in Indian shares in the expectation that the aggressive rate hikes would come to an end and because they were optimistic about the macroeconomic outlook as a whole. After continuing to be net selling in August and September, analysts believe that FPIs…
