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…
According to currency analysts, the rupee, which has been under pressure for the past several months, is predicted to weaken due to a strong dollar and slower-than-expected economic development. Given a stronger US economy and an underlying bullish tendency in the dollar, the USD INR is predicted to move higher. Over the next few months,…
The US dollar rose to a new high on Friday, while the euro sank on poor euro-area economic data. The dollar rose 3% this month on expectations that a presidential election victory would boost inflation and limit the Federal Reserve’s ability to cut interest rates. In Europe, EUR/USD fell to a two-year low on Thursday…
The bulls recovered well in the week ending November 22. Indian benchmarks halted a two-week losing skid and closed the week with a gain of about 2 percent, despite ongoing FII selling and worries about new geopolitical tensions. The BSE Sensex increased 1,536.8 points, or 1.98 percent, to settle at 1,536.8 this week, while the…
