After ending at 83.91 on August 26 instead of 83.95 roughly a week earlier, the Indian rupee has somewhat appreciated over the previous trading days. Though importers’ dollar demand and foreign portfolio withdrawals from Indian equities (totaling USD 1.5 billion as of August 26) have restricted the rupee’s gains, the currency is seeing some support…
August saw a minor decline in the value of the Indian rupee of 0.3% versus the US dollar, with August 12 marking a new record low of 83.98. In comparison, during the same period, the majority of other Asian currencies have appreciated in value relative to the US dollar. Notably, thus far this month, the…
As investors anticipated further signals from the Federal Reserve regarding interest rate reductions, gold prices increased during Wednesday’s Asian trading session, supported by a weakening dollar. Gold futures expiring in December saw a 0.5% increase to $2,463.85 an ounce, while spot gold increased by 0.3% to $2,419.11. Before the end of the Fed meeting later…
The prospect of a truce in Gaza took a toll on oil prices on March 22, further dented by a stronger currency and a decline in demand for gasoline in the United States. To futures contracts, the price of Brent Crude dropped by 0.5% to $85.36 a barrel. Similarly, US oil futures dropped 0.5% to…
On Monday, the yen gained ground against the dollar as indications that the Bank of Japan will remove negative interest rates during its policy meeting the following week diverged from forecasts that the Federal Reserve will lower rates in June. The dollar index, which compares the dollar value to that of the yen and five…
Friday saw a decline in the majority of Asian currencies as the dollar held onto its overnight gains as signals of China’s ongoing economic deterioration mostly overshadowed hopes for a reduction in U.S. interest rates and inflation. China’s purchasing managers index (PMI) data through February indicated a slow recovery in economic activity, suggesting that the…
The inflow of foreign direct investment (FDI) into India fell 13% to $32.03 billion between April and December 2023. The fall was primarily caused by lower FDI into the computer hardware and software, telecom, auto, and pharmaceutical sectors. 36.74 billion dollars in foreign direct investment (FDI) came in over the same nine months of the…
Due to the small depreciation of the US dollar and the increasing tensions in the Middle East, gold prices surged to almost one-week highs on Monday. As of 03:35 , spot gold was up 0.4% at $2,021.09 an ounce, reaching a peak not seen since February 13. Additionally, U.S. gold futures increased 0.4% to $2,032.40…
Following the release of India’s government budget, the rupee saw a small increase on Friday, although early gains on a decline in U.S. bond yields and upbeat sentiment were undermined by dollar demand from state-run banks and importers. The rupee’s previous close was 82.9650; it concluded at 82.9175 against the dollar. This week, the currency…
Due to dollar sales by both domestic and international institutions, the Indian rupee closed the day stronger on Wednesday, reaching its highest level in more than two weeks. The rupee closed at 83.0425 against the US dollar, down from 83.1050 the previous day. The local currency saw its biggest monthly growth since June 2023 in…
