Gold prices are down Rs 270 per kg, while silver is up Rs 60,000 per kg

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 […]

In early trade, the rupee rises 2 paise to 78.02 versus the US dollar

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, […]

Interest rates on retail and bulk term deposits have been raised by the SBI

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 […]

In early trade, the rupee fell to an all-time low of 78.29 versus the US dollar

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, […]

Rupee falls 8 paise versus the dollar, reaching a new low of 77.82.

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 […]

In early trade, gold is up Rs 270, while silver is up Rs 62,200 per kilogramme

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. […]

The rupee falls to an all-time low of 77.74 per dollar

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 […]

On Tuesday, the dollar struggled to find buyers as the market mood improved

The dollar struggled to find demand on Tuesday as market sentiment improved, but the benchmark 10-year US Treasury bond yield recaptured 3% early Wednesday, allowing the currency to remain reasonably resilient against its peers. Eurostat will publish the euro area’s first-quarter Gross Domestic Product (GDP) numbers. Later in the day, a 10-year US Treasury note […]