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…
The eighth phase of the Open Acreage Licensing Programme (OLAP) for international competitive bidding has been extended by the Ministry of Petroleum & Natural Gas (MoPNG) to include 10 oil and gas blocks. According to an announcement from the Directorate General of Hydrocarbons (DGH), the deadline for submitting bids is January 31. Under the Hydrocarbon…
Copper will probably enter a supply shortage this year, and prices may end up being higher than in 2022, with a target price of $10,000 per tonne, research analysts say. On the demand side, we anticipate that a revival in mainland Chinese demand for copper, along with a falling dollar, will drive up prices. According…
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…
Farmers and other stakeholders are expecting a weather-neutral harvest as the wheat acreage for this rabi season narrows its gain over the corresponding period last year. Three weeks should pass before the first crop is ready for market, and the favorable weather thus far has raised expectations for a sizable production. The area planted with…
On Monday, gold prices increased and maintained a seven-month high as signs of a slowing jobs market raised hopes for a lower U.S. inflation reading this week and a future shift away from the Federal Reserve’s aggressive rhetoric. After Labor Department data revealed that U.S. nonfarm payrolls expanded at their weakest rate in a year…
In its first estimate of sugar production for 2022–23, which was just announced, the private trade group All India Sugar Traders Association (AISTA) estimated India’s sugar production at 34.5 million tonnes, a decrease of 3.63% from the 35.8 million tonnes produced in the prior year. Maharashtra will produce 12.4 million tonnes of sugar this season,…
Oil corporations are making ₹10 per liter on petrol sales, but retail prices haven’t dropped to make up for earlier losses and a ₹6.50 per liter loss on diesel, a report said. The prices of petrol and diesel have not been updated by state-owned IOC, BPCL, and HPCL in pace with inflation for the past 15 months….
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….
