The Reserve Bank of India (RBI) said that foreign exchange reserves increased by $531.1 billion for the week ending October 28—the largest weekly increase since September 2021. Experts speculate that the huge increase of $6.6 billion in India’s foreign exchange reserves may have been caused by the delivery of US dollars from the Reserve Bank…
Early on Tuesday, oil prices barely changed as concerns about supply outweighed concerns about the economy and China’s adherence to its zero-COVID policy. U.S. West Texas Intermediate (WTI) crude increased 7 cents, or 0.1%, to $91.86 per barrel while Brent crude increased 7 cents, or 0.1%, to $97.99 a barrel by 0155 GMT. On Monday,…
The Food Safety and Standards Authority of India (FSSAI) decided not to accept a proposal that has been in the works since 2017, which has derailed attempts to sell “blended Basmati rice” throughout the nation. According to S Chandrasekaran, a trade expert and the author of “Basmati Rice: The Natural History Geographical Indication, The FSSAI…
The central bank should first try and bring down retail inflation to 6% – the upper band of its medium-term target – before modifying the pace of its rate increases Said C Rangarajan, the best-known economist and former governor of the Reserve Bank of India (RBI) Although the central bank does not set a specific…
Wheat, rice, and mustard, three important rabi crops, continued to be sown early by farmers as their coverage increased as of Friday, according to data from the Ministry of Agriculture. In contrast, the area planted with coarse cereals, particularly maize, green gram (moong), and groundnut, lagged behind. The area planted with all rabi crops has…
As supply remains constrained and demand worries continue to exceed them, crude oil prices are rising. The MCX crude oil futures (continuous contract) and the Intercontinental Exchange (ICE) Brent crude futures both saw gains last week, closing at $98.62 and 7,556 per barrel, respectively. The risks are inclined to the upside. With the G7 agreeing…
Foreign portfolio investors (FPIs) changed from being continuous sellers for the previous two months to net purchases in the first week of November in Indian markets, ahead of the critical US Federal Reserve meeting. The FPIs invested $15,280 crore in Indian shares in November in expectation of a possible Fed rate cut and highly adverse…
The global weakness, India’s equity market managed to ignore the US Fed’s aggressive 75 basis point rate hike and finished with a small loss. However, Government Securities (GSecs) took a hit, and the rupee ended the day with less value. According to analysts, the market’s stability was due to significant purchasing by foreign portfolio investors…
Tin’s prognosis has dimmed as a result of deteriorating macroeconomic fundamentals, a strong currency, and increased inflation. As a result, analysts have decreased their prediction for the metal’s price for 2023 and this year. Tin’s prices have fallen by 11% over the previous month due to the bleak prognosis for the metal, which is used…
Basmati exporters are optimistic about global demand and have purchased paddy at rates that are 12–24% higher than a year ago. This optimism has been stoked by an increase of 11% in the shipments of fragrant rice during the first half of the current fiscal. Agricultural Produce Marketing Committee (APMC) yards have seen the buying…
