The dollar fell as a result of lower-than-expected inflation in the U.S., and the rupee strengthened by 100 paise to settle at 80.81 versus it. The widest opening disparity in over a decade was 110 paise greater than 80.71 when the currency was introduced. Before finishing at 80.81, 100 paise higher, according to Reuters, it…
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….
The price of gold was unchanged on October 28 in the international markets, but it was on track to post gains for a second straight week as dismal U.S. economic data fueled hopes that the Federal Reserve could slow its aggressive pace of raising interest rates starting in December. The price of spot gold was…
The rupee lost 8 paise to open at 79.82 against the U.S. dollar on Wednesday as traders awaited the U.S. Federal Reserve’s interest rate announcement for additional indications. The local currency, according to forex traders, suffered from the strength of the American dollar in international trade and a flat domestic equity market. Furthermore, the local…
The rupee traded early on Thursday in a range-bound as a strong dollar and worries over a hawkish U.S. Federal Reserve outweighed gains in domestic markets. At the interbank foreign exchange, the rupee touched 79.47 in initial deals after starting at 79.53 against the dollar, gaining 5 paise from its previous close. The rupee lost 35…
With the strength of the dollar, the Indian rupee is likely to weaken. Increased petroleum prices, worries about interest rate increases, and recession worries are also anticipated to have an impact on the local currency. Analysts predict that the USDINR spot price will fluctuate between Rs. 79 and Rs. 80.50 over the next several trading…
Following economic statistics that increased anticipation the Federal Reserve will maintain its aggressive rate-hike path, gold prices decreased on Wednesday in international markets as the U.S. dollar and Treasury yields surged. Spot gold was down 0.3% at $1,696.30 per ounce. Higher benchmark Treasury yields are supported by better U.S. economic statistics, which increases demand for…
According to a Reuters poll, India’s battered rupee will remain vulnerable to a worsening trade balance and an aggressive U.S. Federal Reserve rate-hiking campaign into next year and trade close to its lifetime low versus the U.S. dollar. The rupee has hit its lowest point many times this year and would depreciate by more than…
The strength of the U.S dollar in the international market caused the rupee to weaken 12 paise to 79.90 against the dollar in Tuesday’s opening session. The rupee depreciated 12 paise from its previous level to start the day at 79.90 against the dollar on the interbank foreign exchange market. The rupee gained nine paise…
The rupee strengthened during the past week despite a steep decline in crude oil prices. Additionally, the rupee received support from large inflows into local equity markets and a reduction in the federal fiscal deficit of India. In response to Jerome Powell’s hawkish remarks, the dollar index increased slightly and reached its highest level in…
