Exports from Indian steel mills climbed by 31% in December over November, reflecting improved sentiment following the Center’s removal of export taxes on November 19. Key exports of non-alloyed steel experienced their largest sequential gain this fiscal year in December (271%) (over the prior month), while exports of alloyed steel fell by half. The steel…
The assumption that the US Federal Reserve may be more cautious in raising interest rates, the decline in the price of crude oil, and banks selling dollars on behalf of exporters and foreign portfolio investors all helped the Rupee close at a five-week high on Tuesday. The Indian rupee (INR) increased 58 Paise from the…
The rupee fluctuated between 82.90 and 82.45 during this week of consolidation. After a lacklustre December month, last week was tumultuous as we witnessed a fall and recovery in the spot USDINR. Since other EM currencies began to gain strength versus the dollar, now is the ideal opportunity to go short in the pair as…
The Central Bank Digital Currency (CBDCRetail or eR) has gained popularity after a sluggish beginning. By the end of the month, there will be 50,000 CBDCR users, up from 16,000 at the moment. On December 1, the Reserve Bank of India began an eR pilot experiment. The digital money is doing fairly well, according to…
Foreign portfolio investors (FPIs) have maintained their investment interest in India’s primary market despite remaining net sellers in the secondary market for the majority of the current fiscal year. The secondary market (or stock market) is where securities are traded between buyers and sellers through an exchange, as opposed to the primary market (or stock…
Despite conflicting global cues, the price of gold is trading higher on Friday, while the price of silver is up 0.5%. Gold February futures were selling at Rs. 55,383 per 10 kilos on the Multi Commodity Exchange, up Rs. 93 or 0.17%. On the MCX, silver March futures were trading 337 rupees higher at Rs….
In comparison to the previous finish of 82.80 per dollar, the Indian Rupee started the day slightly higher at 82.77 per dollar. On Thursday, the local currency is anticipated to strengthen due to a weaker dollar and falling crude oil prices. Furthermore, the currency pair may be supported by upbeat mood on the world market….
On Monday, December 26, 2022, data available on NSE shows that foreign institutional investors (FII) sold shares worth a net Rs 497.65 crore while domestic institutional investors (DII) bought shares worth a net Rs 1285.74 crore. FII sold shares worth a net of Rs 8,967.18 crore for the month of December up to that point,…
Tuesday’s opening rate for the Indian rupee was slightly lower than the previous day’s close of 82.65 to the dollar. Due to a rise in risk appetite on international markets and the depreciation of the dollar, the local currency is anticipated to increase in value. Market confidence increased on expectations of more gradual Fed rate…
On the strength of improving global cues and firming up of international pricing, Indian steel mills are considering price increases in January. Domestic orders, though, are still on the low side. First indications point to price increases of $500 per tonne for flat-coated products, which have been hardest hurt by growing imports and price variations….
