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…
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 Reserve Bank of India (RBI) reported on Friday that India’s foreign exchange reserves fell by $6.78 billion to $675.65 billion for the week ending November 8. Following its peak of $704.89 billion at the end of September, the foreign exchange basket has declined for several weeks. Over the last six weeks, their total decline…
The OPEC+ group has extended their production cut to limit excess supplies and stabilize prices in global oil markets. Oil has been trading in a tight range since the second half of 2022, with prices broadly congested within $97-$65 per barrel. OPEC+ production policies significantly impact global oil markets, with higher prices typically following production…
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…
Gold prices ended the day down -0.13% at ₹76,143 as the US dollar strengthened and market expectations for the Federal Reserve to slash rates aggressively were tempered by a better-than-expected US jobs report. In September, the US labor market shown resiliency as job growth picked up speed and the jobless rate dropped to 4.1%. As…
