RBI may have sold more than $1 bln in FX mkt, prevented rupee from breaching 82/$1
Dollar gains help Nasdaq pip Nifty gains over a three-period
Brent crude futures were up 5 cents, or 0.06%, at $86.32 per barrel by 0937 GMT, while U.S. West Texas Intermediate crude futures were down 9 cents, or 0.1%, at $78.41 per barrel
Spot gold fell 0.6% to $1,619.79 per ounce, as of 0854 GMT. U.S. gold futures slipped 0.5% to $1,627.60
So far in 2022, the rupee has depreciated around 9.2% against US dollar
The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing. On Tuesday, the rupee consolidated in a narrow range and settled 14 paise higher at 81.53 against the dollar. The rupee opened weaker on Wednesday as the dollar resumed its upward momentum supported by hawkish Fed talk, said Sriram Iyer, Senior Research Analyst at Reliance Securities. The local unit could track the weakness of the Asian and emerging market peers, Iyer said, adding that a delay in local bonds' inclusion for listing on a major global index this year could al
Meanwhile, benchmark US 10-year Treasury yields rose to 4% for the first time since 2010, topping at 4.004%. The two-year yields stood at 4.2912%
The group has earmarked 70 per cent of its new investments for energy transition space and infrastructure. "We are already the world's largest solar player, and we intend to do far more
Crude soared in early 2022, with Brent coming close to its all-time high of $147 in March after Russia invaded Ukraine, adding to supply concerns
Spot gold rose 0.9% to $1,636.30 per ounce as of 0833 GMT. Prices had hit an April 2020 low of $1,620.20 on Monday
The rupee appreciated 37 paise to 81.30 against the US dollar in early trade on Tuesday as the American currency retreated from its elevated levels. At the interbank foreign exchange, the domestic unit opened at 81.45 against the dollar, then touched 81.30, registering a gain of 37 paise over its previous close. On Monday, the rupee plunged 58 paise to close at an all-time low of 81.67 against the dollar. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee appreciated against the greenback as the dollar took a breather. According to experts, focus will now shift to RBI's meeting this week, with its decision due on Friday. "Most Asian and emerging market peers have started mixed, but a positive start in the equity futures could aid sentiments. The dollar index was marginally weaker, while the Euro, Sterling and the Yen strengthened against the greenback in this Tuesday morning trade," Iyer said. Meanwhile, the dollar index, which gauges the greenbac
The People's Bank of China has already stepped up its currency defense, but it did little to stop the depreciation.
India VIX index jumps 6% to June level
The rupee has depreciated 9.7 per cent against the dollar since September 2021
RBI may have sold around $1 bn, but experts see pace of intervention declining
Brent crude futures for November settlement slipped by 82 cents, or 1%, to $85.33 a barrel at 1110 GMT. The contract fell as low as $84.51, the lowest since Jan 14
The dollar index traded above 113-levels for the first time since 2002 as deep tax cuts in the UK sent the sterling to a record low
Spot gold was little changed at $1,645.47 per ounce as of 0724 GMT. Prices fell as much as 1% earlier in the session to hit $1,626.41, their lowest level since April 2020
Global shares were mixed Monday while the British pound declined to an all-time low against the US dollar on concerns over planned tax cuts. France's CAC 40 rose 0.2% in early trading to 5,795.88, while Germany's DAX added 0.2% to 12,311.57. Britain's FTSE 100 edged 0.1% higher to 7,025.51. The futures for the Dow industrials and the S&P 500 were 0.1% lower. In Asian trading, Japan's benchmark Nikkei 225 shed 2.7% to finish at 26,431.55. Australia's S&P/ASX 200 dipped 1.6% to 6,469.40. South Korea's Kospi dropped 3.0% to 2,220.94. Hong Kong's Hang Seng gave up 0.4% to 17,855.14, while the Shanghai Composite lost 1.2% to 3,051.23. The British pound's slide against the dollar picked up pace last week after the UK's new government outlined plans to cut taxes and boost spending. The weakening currency piles pressure on the UK's new Conservative government, which has gambled that slashing taxes and increasing borrowing to compensate will spur economic growth. Many economists say .
The Kospi index tumbled 3% to its lowest close in more than 2 years, leading declines in Asia. The won, by far the region's worst performer this quarter, slid to the weakest level since March 2009