On Friday, the rupee dropped 5 paise to an all-time low of 84.37 against the US dollar, fueled by ongoing outflows of foreign funds and a weak trend in domestic stocks. According to Forex dealers who spoke to PTI, the US Federal Reserve’s recent move to lower interest rates implies a change in the global…
As the dollar is expected to strengthen in the upcoming months due to Donald Trump’s election, the rupee fell to a record low on Thursday. The rupee fell to 84.2950, inching past the previous all-time low of 84.28, which was reached on Wednesday. Analysts predicted that the fear of tariffs would weaken the euro and…
As the U.S. dollar surged due to the early results of the presidential election, the Indian rupee fell to its lowest level ever on Wednesday, forcing the central bank to step in. The rupee dropped almost 0.1% from Tuesday’s closing to 84.1950 versus the US dollar. However, other Asian currencies did far worse, falling 1%…
Copper prices fell -0.91% to settle at 814.8, driven by a stronger dollar that touched levels near 103.8, dampening hopes for a quick cut in interest rates by the Federal Reserve. Although China’s central bank cut benchmark lending rates to record lows, one- and five-year lending prime rates were cut by 25 basis points to…
On October 11, worries over the recent spike in oil prices and the withdrawal of foreign capital from the country’s equities markets caused the Indian rupee to fall to a record low vs the US dollar. At the latest quote, the rupee was trading at 84.05. It had fallen as low as 84.0525 against the…
The rupee held below the $84 level on Friday, following a two-month low on Thursday, as the Reserve Bank of India (RBI) increased its intervention in the foreign exchange market to halt the depreciation. After closing nearly unchanged against the dollar on Thursday at 83.9750, the rupee fell to 83.9688 on Friday. Market players think…
Gold prices reached record highs on Wednesday due to a weaker dollar and an escalated Middle East conflict. Spot gold held steady at $2,658.07 per ounce, while gold futures edged 0.2% higher to $2,682.60. The dollar was down 0.2%, making greenback-priced bullion less expensive for other currency holders. This data raised hopes that the U.S….
In the week ending on September 20, the Indian market maintained its recent upward trend and set a new record as investors welcomed the Fed’s unexpected 50 basis point interest rate drop. The decline in unemployment claims, a strong FII inflow, and the possibility that the RBI will adopt the Fed’s stance at its next…
A weak dollar index, falling crude oil prices, and robust foreign portfolio investment (FPI) inflows have not deterred the Indian rupee from trading close to its all-time low. As of September 10, it closed at 83.98, having moved in a narrow range between 83.92 and 83.99 thus far this month. The rupee has remained rangebound…
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…
