The rupee has appreciated only 1.14 percent against the dollar since the US Fed raised rates by a quarter point on February 1 thanks in part to Central Bank of India’s intervention in the spot and non-deliverable forward (NDF) markets. Although the dollar index (DXY) increased 3.60% during that time, the currencies of emerging markets…
The India Meteorological Department (IMD) has forecast that the daytime temperature will decline after Tuesday as the anticyclonic circulation above Gujarat moves towards the Arabian Sea following days of a persistent heat wave that jeopardized wheat yield, particularly in Gujarat and west Rajasthan. Yet as a precaution, the government has established a high-level committee to…
While the dollar weakened from a six-week high on Tuesday as traders awaited additional economic data to assess the U.S. Federal Reserve’s rate-hike policy, gold prices edged up on the global markets. At $1,843.23, spot gold was up 0.1 percent. At $1,851.80, U.S. gold futures rose 0.1 percent. On global markets, gold and silver came…
According to Ashutosh Tikekar, head of global markets at BNP Paribas India, the Indian rupee is anticipated to trade in a range of 81-84 against the US dollar in the upcoming quarter. The Reserve Bank of India (RBI) will continue to play a crucial role in controlling volatility. “In essence, the RBI has a significant…
After settling around $2 a barrel on Friday, oil prices were little changed in early Asian trade on Monday as increased supplies in the United States and expectations of additional interest rate hikes dampened optimism about China’s demand rebound. To reach $82.91 a barrel, Brent crude lost 9 cents or 0.1%. The price of March…
The emphasis right now is on assuring greater output from fossil fuel-based power plants while also establishing new renewable energy projects, as the demand for energy is predicted to increase over the next ten years. This entails managing the energy transition by shutting down fossil fuel plants while making sure there is a sufficient supply…
Due to the dollar’s resurgence against its rivals, precious metals have been sluggish during the last few weeks. On February 2, 2023, gold fell by about 5% from a peak of Rs 58,847 on the MCX to Rs 55,850. Comex Gold’s 6.48 percent decline from $1,960 to $1,833 had a more significant effect. According to…
In an effort to diversify supply sources for the essential hydrocarbon resource, the state-run Gas Authority of India (GAIL) is considering acquiring a minority ownership of up to 26% in a liquefied natural gas (LNG) liquefaction plant in the US as well as long-term sourcing agreements. The largest gas utility in the nation issued an…
According to a warning in an article in the most recent monthly bulletin from the RBI, the decline in inflation is predicted to be obstinate and hampered by supply shocks over the coming year. According to the article headed “Status of the Economy,” almost every other component of the consumer price index, statistical and exclusion…
The American currency’s rise abroad and a flattish trend in local markets dampened investor optimism, causing the rupee to weaken 14 paise to close at 82.84 (provisional) on Friday. The rupee depreciated 14 paise from its previous closing of 82.70 to end the day at 82.84 (provisional) on the interbank foreign exchange market. It had…
