Gold yesterday increased by 1.1% to conclude at 60379 as the dollar index continued to decline and moved farther away from a two-month high of 103.6 the day before. Investors are keeping an eye on the debt ceiling standoff and adjusting their expectations for the Fed’s next action. GOP negotiators reportedly left a debt ceiling…
Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
The dollar gained on Wednesday as traders reduced their bets on the Federal Reserve cutting interest rates soon in the wake of strong U.S. consumer spending statistics and as a result of the safe-haven status of the dollar under the threat of a U.S. government default. Although nothing is finalized yet, negotiations between Republican senior…
In response to a recovery in the value of the dollar relative to other major currencies, the Indian rupee had its largest weekly loss in two months. As Treasury yields increased amid an increase in expectations that the Federal Reserve will intensify its fight against inflation, a measure of the dollar experienced its best weekly…
The rupee declined for the second consecutive day, losing 7 paise to 82.16 against the US dollar on Friday as investor confidence was dampened by a strong foreign dollar. However, dealers indicated that a rising trend in domestic equities and unabated foreign capital inflows helped to soften the decline. The rupee’s intraday high against the…
Following the weakness of the U.S. dollar in the international market, the rupee nudged up 2 paise to close at 81.78 (provisional) against the U.S. dollar on Thursday. Significant inflows of foreign capital, according to forex traders, as well as crude oil prices trading below USD 75 per barrel, strengthened the local currency. The local…
With a close of 81.88 against the dollar, the rupee was nearly unchanged on Tuesday. In line with our expectations, it so continues to trade between the important levels of 81.60 and 82.15. Nevertheless, the Indian rupee has been rising since March, and the trend is still upward. The increase was mostly caused by foreign…
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…
