The non-deliverable forwards indicated an opening of around 82.60-82.64 for the rupee to the US dollar, compared with 82.4975 in the previous session
US Fed will hold its meeting on January 31 and February 1 and announce the policy on February 2
The dollar index, which measures the U.S. currency against six others, rose 0.059% to 102.220 but was languishing around its lowest level since June
The rupee appreciated 32 paise to 80.98 against the US dollar in early trade on Thursday on a broad dollar weakness after Federal Reserve Chairman Jerome Powell said the pace of interest rate hikes may slow. At the interbank foreign exchange, the domestic unit opened at 81.08 against the dollar, then gained further ground to touch 80.98, registering a rise of 32 paise over its previous close. On Wednesday, the rupee rose by 42 paise to close at 81.30 against the US dollar, on month-end exporter dollar selling and MSCI rebalancing related inflows. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.27 per cent to 105.66. Fed Chair Powell in his speech on Wednesday gave a clear indication that the Fed would slow down its pace of rate hikes and increase rates by 50 basis points in the December policy. Overall, the speech can be said to be leaning towards moderation in hawkishness going forward and this has brought a great sens
The dollar stood close to a three-month low and was on track for a weekly loss on Friday, as the prospect of the Federal Reserve slowing monetary policy tightening
Spot gold was flat at $1,739.90 per ounce by 0121 GMT
Bitcoin crossed the $ 20,000 mark, and Ethereum was above the $ 1,500 mark for the first time since it concluded "Merge" in September
Gold prices were set for a second weekly decline as US Treasury yields held near multi-year highs following strong labour market data and hawkish comments from Federal Reserve officials
To stay safe, keep bulk of portfolio in shorter-duration or target maturity funds
India VIX index jumps 6% to June level
Gold and silver have always remained some of the precious assets to safeguard against inflation
The Sensex ended the session at 55,268, with a decline of 497 points, or 0.9 per cent
More than the Fed's hike, it is the commentary that would impact market sentiment
Rupee which had closed at 79.64/$ at its previous close, slipped to a low of 79.92/$ intraday
Powell had said the central bank needed to shift its focus toward preventing higher inflation from becoming entrenched
In a statement, the US Fed said it was cutting rates by a half percentage point to a target range of 1 per cent to 1.25 per cent
A 'green interest rate' is one of the ideas on view Friday as the San Francisco Fed convenes the U.S. central bank's first-ever conference on climate change and economics
The Fed said it will 'monitor the implications of incoming information for the economic outlook as it assesses the appropriate path' of its target interest rate
Fed rate cuts in conjunction with additional fiscal stimulus could result in higher inflation - which could spook markets and lead to a nasty unwinding
US stocks have dropped sharply in recent weeks on concerns over weaker economic growth