The volatility in the global equity markets, the stability of oil prices at $95 per barrel, and the strength of the dollar, the Indian Rupee is likely to remain stable. On Friday, the USDINR pair opened a little higher and is forecast to move in a range of 82.50 and 83.30. Following the US Federal…
Shaktikanta Das, governor of the Reserve Bank of India (RBI), aimed to soothe worries on Wednesday that the Monetary Policy Committee’s explanation to the government on a breach of the inflation target would not be made public. Das claimed that because this was sensitive material, the RBI was not authorized to reveal the contents, but…
The Center’s organization for promoting agricultural exports, the Agricultural and Processed Food Products Export Development Authority (APEDA), would concentrate on the export of organic millets and hit a target of 2,000 crores by FY26. The expected value of millet exports in 2021–22 is 460 crore, with a 14% increase from the previous year. By exporting…
While U.S. Federal Reserve Chair Jerome Powell’s hawkish comments restrained additional gains in zero-yielding bullion, gold prices crept up on Thursday in the foreign markets, helped by a modest decline in the dollar.After losing 0.8 percent on Wednesday, spot gold increased 0.2 percent to $1,638.32 per ounce. U.S. gold futures decreased 0.6 percent to $1,640.70….
In anticipation of the US Fed meeting, the Indian rupee is anticipated to trade range-bound and flat on Wednesday. The USDINR pair is anticipated to trade in a band of 82.45-82.83 throughout the day. In the previous session, the rupee gained value relative to the US dollar as the latter dropped from its high points….
The majority of the manufacturers of passenger vehicles (PVs) recorded double-digit growth over the same month last year, while domestic wholesales (dispatches to dealers) of automobiles maintained their momentum in the festival month of October. The manufacturers predict that the trend will hold in the upcoming months due to the better semi-conductor condition. Market leader Maruti…
The government reduced the windfall tax on local crude oil exports on Tuesday from Rs 11,000 per tonne to Rs 9,500 per tonne. The windfall tax on aviation fuel exports (ATF) has, however, been raised from Rs 3.50 per litre to Rs 5 per litre. Diesel fuel now costs Rs. 13 per litre after an…
During the first month of the current procurement season (October–September), rice procurement climbed by 12% to 114.33 lakh tonnes (lt), owing to Punjab and Haryana. Compared to the same time last year, grain purchases are up 8% in these two States. Purchases fell by 60% to 22,557 tonnes in Uttar Pradesh, the state with the…
The Reserve Bank of India, the pilot for the wholesale use of the digital rupee will start on Tuesday. The trial would involve using the digital rupee to settle secondary trades in government securities, which should improve the efficiency of the interbank market. Settlement in central bank money would lower transaction costs by avoiding the…
Agricultural produce marketing committee (APMC) yards and wholesale stores in India have seen wheat prices jump to a record high, despite October 130 arrivals reaching a 7year high. The change coincides with a 5% increase in wheat prices globally on Monday following Russia’s announcement that it was pulling out of the UN-mediated agreement to allow…
