Gold prices in Asian trade remained unchanged, despite the US Federal Reserve’s interest rate cuts this year. Spot Gold was at $2,607.65 per ounce, while Gold Futures expiring in February edged 0.2% lower to $2,620.22 an ounce. Gold prices have risen more than 26% in 2024 due to the Fed’s outsized rate cuts earlier this…
Early on December 30, the rupee fell 5 paise versus the US dollar, reaching Rs 85.53. Increased demand from importers, withdrawals of foreign investment, and a decline in activity in the Indian equities market are the factors for the decrease in investor mood. The rupee opened worse at the interbank foreign exchange, falling 5 paise…
A persistent and robust demand for the dollar in the non-deliverable forwards (NDF) market caused the Rupee to drop to a new low of 85.73 against the US dollar on December 27, prolonging the decline for the ninth consecutive day. Compared to the US dollar, the rupee has lost 3% of its value this year…
Due to the Chinese yuan’s decline and importers’ aggressive dollar buys, which were probably connected to month-end payments, the rupee fell to yet another all-time low on Monday, according to FX traders. The decrease was, however, restrained by dollar sales made by the state-owned banks acting on behalf of the Reserve Bank of India. After…
The Indian IT industry, which gets 50–60% of its income from the US market, is benefiting from the rupee’s recent weakening versus the dollar. The rupee has lost almost 108 paise against the dollar thus far in the third quarter. According to analysts, this will increase the margins of IT companies by 30 to 50…
Gold prices rose on Friday due to a softer dollar and Treasury yields, following U.S. economic data showing a slowdown in inflation. Spot gold was up 1.2% at $2,624.15 per ounce, while U.S. gold futures settled 1.4% at $2,645.10. The dollar fell 0.6% from its two-year high, making gold less expensive for overseas buyers. The…
As the US Federal Reserve’s hawkish stance triggered a broad dollar rally, the rupee fell 12 paise to its lowest point ever, 85.06, against the US dollar in early trading on Thursday. Forex dealers reported that the US Federal Reserve had changed its 2025 forecasts, indicating a more cautious approach to monetary policy and putting…
Despite reaching new lows in CY24, the rupee beat the majority of Asian currencies because the Reserve Bank of India (RBI) intervened promptly. Over the year, it lost 1.5% of its value about the US dollar. The dollar index, which measures how the US dollar performs about a basket of six major currencies, is down…
As worries about the nation’s economic future grew and other Asian currencies began to fall, the Indian rupee fell to a record low against the US dollar on Wednesday. By the end of trading, the rupee made a slight rebound, closing at 84.83 after plunging to its lowest point ever, 84.8650. The Chinese yuan pushed…
Against the US dollar, the rupee fell 7 paise to Rs 84.73 in early trading on December 9. Foreign money leaving the country and a decrease in activity in the Indian stock market are the reasons for the dip. The strong demand for dollars from importers and international banks is the reason why the Indian…
