After the U.S. Federal Reserve raised interest rates and investors became concerned about a slowing global economy that could reduce energy demand, oil prices fell more than 1% on Thursday, compounding recent steep losses. Brent futures had decreased by 76 cents, or 1.1%, to $71.57 per barrel. On Wednesday, the global benchmark recorded its lowest…
In response to a strong U.S. dollar abroad, the rupee gave up all of its early gains and depreciated by 3 paise to close at 81.82 (provisional) on Friday. The declining inclination in the rupee was nonetheless restrained, according to forex traders, by the positive attitude on the domestic equity market. At the interbank foreign…
In the midst of a strong U.S. dollar abroad on Thursday, the rupee gave up all of its early gains to end the day 10 paise worse at 81.84 (provisional). The robust sentiment on the domestic stock market, according to forex traders, limited the rupee’s decline. The local unit started out at the interbank foreign…
Following the weakness of the U.S. dollar in the international market, the rupee increased 21 paise to end the day at 81.74 (provisional) against the U.S. dollar. Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit began trading at 82 against the U.S. dollar…
As softer U.S. economic statistics and an increase in petrol inventories stoked worries about a recession and slowing global oil demand, oil prices dropped on Friday, extending losses from the two prior days and aiming for a weeklong decline. At the morning June Brent futures were down 14 cents, or 0.2%, at $80.96 per barrel….
On Thursday, as crude oil prices fell from high levels, the rupee strengthened 11 paise to settle at 82.14 (provisional). Forex traders claimed that the local currency was also supported by an upward trend in domestic equities. The local unit gained 11 paise from its previous close to close at the interbank foreign exchange market,…
On Monday, the rupee lost 25 paise to close at 82.10 (provisional) against the US dollar as investor sentiment was dampened by a strong US dollar abroad and a downward trend in domestic markets.Firm crude oil prices, according to forex traders, also weighed down the local currency. The domestic currency at the interbank foreign exchange…
Pressured by a stronger dollar and higher Treasury yields, gold reversed direction and fell below the important $2,000 per ounce threshold as investors searched for clues as to whether the market will witness a “one and done” rate hike by the U.S. Federal Reserve in May. After climbing as high as 0.6 percent earlier in…
The rupee increased 18 paise to 81.93 against the US dollar in early trade on Thursday, reflecting the American currency’s widespread weakness in the foreign exchange market. Forex brokers claimed that foreign funds were also supporting the local currency. The dollar index, which measures how strong the dollar is relative to a basket of six…
Early trading on Wednesday showed little movement in oil prices as industry data revealed an unexpected increase in U.S. crude and petrol inventories, allaying concerns about a supply shortage prior to OPEC producers cutting their output. U.S. oil futures have shifted into backwardation, with the front-month contract trading 6 cents higher than the second month,…
