Due to U.S. President Donald Trump’s implementation of fresh tariff measures, the Indian rupee fell to a new record low of 87.9563 against the US dollar on February 10. Compared to the previous trading session, when it opened at 87.4275 vs the US dollar, the local currency was significantly weaker at 87.9175. On February 9,…
Indian cumin production for the 2023-24 season is estimated at 8.6 lakh tonnes, up from 5.77 lakh tonnes last year. Despite high supply, shortage concerns could limit downside risks. Global demand for Indian cumin remains strong, as it is currently the cheapest globally at $3,050 per tonne compared to Chinese cumin. Tensions in the Middle…
Rising trade concerns between the US and China and poor US employment figures helped gold prices rise 0.53% to settle at 84,888. By the end of January, China’s central bank had 73.45 million fine troy ounces of gold, increasing its reserves for the third consecutive month. Gold holdings in London vaults fell 1.7% to 8,535…
A strong dollar pushed gold down 0.15% to 84,444, although demand for safe-haven assets remained steady in the face of economic uncertainty and geopolitical tensions. Expectations for two interest rate cuts in 2024 were reinforced by weaker-than-expected US services sector data, in line with the latest FOMC projections. Gold’s appeal as a safe-haven asset has…
The Agriculture Ministry in India has permitted the trading of 10 additional commodities on the electronic National Agriculture Market (e-NAM), increasing the total tradable items on the platform to 231. The new commodities include dried Tulsi leaves, Besant, wheat flour, chana sattu, water chestnut flour, asafoetida, dried fenugreek leaves, baby corn, dragon fruit, and water…
Without a doubt, this RBI policy meeting has been historic. The Reserve Bank of India has emerged from its five-year hiatus, reducing the key policy repo rate by 25 basis points to 6.25%, down from 6.50%. After 2020, this is the first instance of the RBI making a rate cut. In May 2020, the Reserve…
Yellow rose is expected to settle at 0.21% at 13,296, down 10-15% on concerns over lower yield forecasts. However, after the pace of harvesting in the main producing areas increased, the real impact on supply was more evident. Despite the lower yield expectations, weak demand and increased arrivals prevented price gains. With increased arrivals in…
Natural gas prices dropped by 0.63% to ₹285.7 due to increased U.S. production and reduced tariff risks. President’s suspension of tariffs on Canada and Mexico reduced import costs, reducing price support. Average U.S. gas output rose to 106.0 bcfd in February, but daily production dropped to 105.1 bcfd. Weather remains a key driver, with forecasts…
Hospitality- Positive Impact. With a focus on certain tourism segments and smart partnerships with states, the Budget is laying a solid basis for growing India’s tourism and hospitality industries. The government is fostering a more varied and rich travel experience and enhancing infrastructure by creating the top 50 tourist sites. To promote more sustainable and…
On February 5, the Indian rupee began five paise down against the US dollar at 87.1263, according to currency experts, as Asian stocks were poor. The local currency’s opening value against the US dollar was 87.1263, while its closing value against the US dollar was 87.0762. Due to growing trade concerns between the two biggest…
