In early trade on Wednesday, the rupee fell 4 pence to 78.17 against the US dollar, after a flat domestic share market and a strong US currency. However, lower oil prices on the global market strengthened the local currency and limited its decline, according to FX brokers. The rupee began flat at 78.13 versus the […]
June 22, 2022
In early trade on Monday, the rupee rose by 12 paise to 77.93 versus the US dollar, owing to lower crude oil prices. However, currency dealers claimed that unrelenting foreign money outflows, a lackluster trend in local stocks, and a strong US dollar overseas limited the gain. The rupee began strongly at 77.98 versus the […]
June 20, 2022
On Thursday morning, gold prices in India fell by Rs 270 per gramme. After a Rs 250 drop, 10 gramme of 24-carat gold is trading at Rs 51,440, while 10 gramme of 22-carat gold is trading at Rs 47,150. The drop in gold prices comes after the US Federal Reserve raised interest rates for the […]
June 16, 2022
In early trade on Tuesday, the rupee bounced back from an all-time low against the US dollar, rising 2 paise to 78.02. The rupee began at 78.02 versus the dollar on the interbank foreign exchange, up 2 paise from its previous close. In early trade, the native currency soared to 77.90 versus the US dollar, […]
June 14, 2022
State Bank of India (SBI), the country’s largest lender, has increased interest rates on retail term deposits by 15 to 20 basis points on several tenors, effective June 14. It has also increased interest rates on bulk term deposits by 50 – 75 basis points (bps) on certain tenors at the same time. The interest […]
June 14, 2022
In intra-day trade on Monday, shares of Life Insurance Corporation of India (LIC) fell 4% to Rs 681.70 on the BSE, with the lock-in period for anchor investors expiring on Monday, June 13. The share price of the state-owned insurance behemoth has dropped by 28% from its IPO price of Rs 949 per share. Retail […]
June 13, 2022
In early trade on Monday, the rupee fell 36 paise to an all-time low of 78.29 versus the US dollar, reflecting the strength of the US currency outside as investors rushed to the safe-haven currency amid an overall risk-averse mood. Investor morale was pulled down by weak Asian currencies, a lacklustre trend in local stocks, […]
June 13, 2022
In early trading on Friday, the rupee fell 8 paise to a new low of 77.82 versus the US dollar, reflecting the greenback’s rise in the international market. At the interbank foreign exchange, the rupee began weakly versus the dollar at 77.81, before losing momentum to quote at 77.82, an all-time low, a drop of […]
June 10, 2022
On Friday, the price of gold rose by Rs 250 from the previous day’s closing to Rs 52,310 for a gramme of 24-carat gold. In the meantime, a gramme of 22-carat gold costs Rs 47,950. Although gold is utilised as an inflation hedge, rising interest rates raise the opportunity cost of owning the non-yielding asset. […]
June 10, 2022
The rupee fell to a new all-time low against the US dollar on Wednesday, ending at 77.74, slightly lower than its previous close of 77.71. Despite continued foreign capital outflows and higher global crude oil prices, the local currency traded in a limited range. The previous low was set on May 19, when it closed […]
June 9, 2022