The strength of the U.S dollar in the international market caused the rupee to weaken 12 paise to 79.90 against the dollar in Tuesday’s opening session. The rupee depreciated 12 paise from its previous level to start the day at 79.90 against the dollar on the interbank foreign exchange market. The rupee gained nine paise…
According to estimates, domestic primary steelmakers’ operating margin will decrease to 14–16% in the first half of the current fiscal year from a decadal high of around 30% for the entire previous fiscal year. According to Crisil Ratings, this decline is the result of increased input prices, reduced realizations, and the introduction of an export…
Commodity fees traded decrease with the maximum of the commodities withinside the non-agro phase witnessing a decline at some point of the week with crude oil and metals falling the maximum accompanied with the aid of using bullion fees. Gold fees traded decreased with spot gold fees at COMEX falling with the aid of using 1.49% to $1712 in step with an ounce for the week. Gold October futures at MCX fell with the aid of using 1.70% to Rs 50368 in step with 10 grams at…
The rupee strengthened during the past week despite a steep decline in crude oil prices. Additionally, the rupee received support from large inflows into local equity markets and a reduction in the federal fiscal deficit of India. In response to Jerome Powell’s hawkish remarks, the dollar index increased slightly and reached its highest level in…
Petrol sales in India recovered in August but diesel continued to show a decline over the last month as rains in several parts nicked away demand in some sectors, mainly industry data showed. Petrol sales, which had declined 5% in July, increased 5.8% to 2.81 million tonnes in August when compared with 2.66 million tonnes of demand in…
Indian rupee, which on August 29 hit a new record low versus the dollar, is expected to strengthen during the following ten years. The Indian rupee has dropped to a historic low of 80 per dollar this year, continuing a long-term trend of devaluation versus the U.S. dollar. It may still weaken further in the…
Despite concerns over production, the government set the estimated amount of rice it will purchase for the central pool at 518 lakh tonnes (LT), an increase of 1.60 percent from the previous year. In a meeting presided over by Union Food Secretary Sudhanshu Pandey here, the estimates were finalized following discussions with state food secretaries…
Gold prices rised slightly in global markets on Tuesday as the dollar fell from a 20-year high, offsetting pressure from expectations the U.S Federal Reserve kept interest rates higher for longer to combat inflation broadcast. Spot gold was up 0.1% to $1,739.1 an ounce. Morning, gold contracts traded were down 0.29% on the Multi Commodity…
Oil prices declined on Tuesday, wiping out some gains from the previous session as the market worried that more aggressive interest rate increases from central banks may cause a downturn in the global economy and weaken fuel consumption. After rising 4.1% on Monday, the greatest gain in more than a month, Brent crude futures for…
On Friday, the Indian rupee saw its largest one-day gain in almost a year, supported by a steep decline in the value of the dollar, while bond prices dropped to their lowest levels in two and a half months, following declines in their American equivalents. Its highest single-day performance since August 27 of last year,…
