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  • In Early Trade He Rupee Fell To An All-Time Low 78.29 Versus The US Dollar

    In Early Trade He Rupee Fell To An All-Time Low 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 trend in local stocks, and continued foreign capital outflows, according to forex dealers The rupee began at 78.20 versus the US dollar on before losing momentum to quote at 78.29, a new low, down 36 paise from the previous closing The rupee fell 19 paise to a new lifetime low of 77.93 versus the US dollar on Friday.






    Weak global sentiments, as well as weak Asian and European currencies, have caused the rupee to start below 78, despite the RBI’s efforts to keep it below 77.70.

    We’ll have to keep an eye on the RBI in the coming days to see how it acts Head of Treasury, Anil Kumar Bhansali, stated Brent crude futures declined 1.46 percent to USD 120.23 a barrel, the global benchmark In the meantime, the dollar index, which measures the strength of the greenback against a basket of six currencies, was up 0.30 percent at 104.45.

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

    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 8 paise from the previous close The rupee lost 6 paise versus the US dollar on Thursday, closing at 77.74 According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the rupee began lower versus the dollar on Friday, mirroring the greenback’s overnight surge.

    Asian and developing market counterparts have had a mixed start, with Asian stock continuing to be under pressure, which might impact on sentiments, according to Iyer.

    Brent crude futures slid 0.66 percent to USD 122.26 a barrel, the global benchmark In the meantime, the dollar index, which measures the strength of the greenback against a basket of six currencies, was down 0.04 percent at 103.17 On the domestic stock market, the 30-share Sensex was down 620.68 points, or 1.12%, at 54,699.60, while the wider NSE Nifty was down 165.30 points, or 1%, at 16,312.80 According to stock exchange statistics, foreign institutional investors were net sellers in the capital market on Thursday, offloading shares worth Rs 1,512.64 crore.

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

    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 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 at 77.73 against the dollar, but it had hit 77.80 levels during intraday trade on May 17 USD-INR volatility may continue to be minimal. Anindya Banerjee, the vice-president, of currency options & interest rate derivatives, Kotak Securities, stated, “A range of 77.40 to 78.00 remains in play in the short term.





    Bond prices climbed following the Reserve Bank of India’s monetary policy committraiseding the policy repo rate by 50 basis points bps in line with market expectations.

    and keeping the status quo on banks cash reserve requirements. The three-year government bond rate fell 9 basis points, while the five-year bond yield fell 7 basis points. The four-year paper’s yield fell 8 basis points According to statistics from the the yield on 10-year government bonds (6.54 percent 2032) was 7.51 percent at the start and 7.49 percent at the close Given the high level of inflation, the market has priced in the magnitude of the repo rate rise. Bond rates are projected to fluctuate in a range for the time being, according to dealers and experts The RBI governor has previously stated that a rate hike was a ‘no brainer,’ according to Madan Sabnavis, chief economist of Bank of Baroda. “As a result, the 10-year yield was largely constant between 7.47 and 7.5 percent under the present regime.” In the short run, the yield on 10-year paper is projected to remain range-bound,” he added. As the RBI works toward a more controlled drawdown of liquidity, the yield might rise to 7.75-8%, he noted.

  • The stock prices of MRPL and Chennai Petroleum have risen by 19% as a result of positive business prospects

    The stock prices of MRPL and Chennai Petroleum have risen by 19% as a result of positive business prospects

    In an otherwise sluggish market, shares of Mangalore Refinery & Petrochemicals (MRPL) and Chennai Petroleum Corporation (CPCL) soared up to 19% and touched 52-week highs on Tuesday’s session on the BSE amid strong volumes The fact that the Singapore gross refining margin (GRM) has risen to a new high of $25.2 per barrel is good news for Indian refiners that transform crude oil into refined goods. Individual equities such as MRPL rose 19% to Rs 107.35, while CPCL rose 17% to Rs 374.80. The S&P BSE Sensex, on the other hand, was down 0.93 percent at 55,159 at 10:07 a.m. On good profits, CPCL has soared 234 percent and MRPL has soared 145 percent in the last three months, compared to a 4% rise in the benchmark index.





    When compared to the average trading volume over the previous 10 trading days, these counters’ trading volumes virtually tripled. On the NSE and BSE.

    a total of 24 million shares traded on the MRPL counter, while 8.02 million shares traded on the CPCL counter. With effect from today, the stock exchanges have increased the circuit limit on certain equities from. CPCL is a downstream petroleum company. It makes a variety of petroleum products with added value. MRPL is a subsidiary of Oil and Natural Gas Corporation Limited (ONGC), which owns 71.63 percent of the company’s ownership. CPCL recorded a four-fold increase in its consolidated net profit in the January-March quarter (Q4FY22), from Rs 242 crore in Q4FY21 to Rs 1,002 crore in Q4FY22. Year on year (YoY), revenue from operations increased by 43% to Rs 20,997 crore from Rs 14,705 crore in the preceding quarter.





    Higher crude output and greater gross refining margins helped MRPL achieve a standalone net profit of Rs 3,008 crore in Q4FY22, compared to Rs 268 crore in Q4FY21. MRPL adopted several steps to increase marketing margins in domestic, export and B2B (business to business) transactions. As a result, gross operating revenue increased 36% year on year to Rs 28,228 crore from Rs 20,793 crore in Transport fuel product cracks are now trading at multi-quarter highs. According to experts at ICICI Securities, GRMs are projected to gain from a refining landscape, and the MRPL is predicted to generate robust earnings in the short future Meanwhile, on the BSE, Oil and Natural Gas Corporation (ONGC) rose 6% to Rs 162.85. Oil India set a new 52-week high of Rs 288.95 in intraday trade Wednesday, up 4%, after soaring 15% in the previous two trading days.

  • Dollar continues 20-year high vs yen amid inflation fears; Aussie falls

    Dollar continues 20-year high vs yen amid inflation fears; Aussie falls

    The dollar extended its overnight run into Asian trading hours on Tuesday, reaching new two-decade highs against the yen as concerns over continuing inflation drove up US bond rates The dollar gained ground against the euro, pound, and Swiss franc. It also rose against the Australian dollar, with the market divided on whether the country’s central bank will raise Australia’s key interest rate by a quarter-point later in the day or opt for something bigger The Australian dollar fell 0.15 percent to $0.7183, continuing its decline from a six-week high of $0.72825 reached last Frida.





    The dollar rose to 132.305 yen on Tuesday, a level not seen since April 2002, boosted by a surge in the 10-year Treasury yield above 3.05 percent for the first time in almost four weeks. The currency pair was last trading at 132.12, up 0.17 percent.

    In contrast, the curve management strategy has kept corresponding Japanese rates close to zero, with central bank governor Haruhiko Kuroda maintaining an unflinching commitment to “strong” monetary stimulus on Monday The Commonwealth Bank of Australia attributes the yen’s weakness to not just yield differentials but also Japan’s reliance on energy imports, though it does not predict much further weakening Strong US job statistics at the end of last week fueled speculations that price pressures will persist for a longer period, perhaps prompting the Federal Reserve to take more aggressive action Consumer pricing data on Friday will give more insight into the Fed’s rate-hiking strategy ahead of next week’s policy meeting when a half-point hike is generally predicted. The dollar index, which compares the currency to six major peers, rose 0.04 percent to 102.51, extending Monday’s 0.26 percent raise The euro fell 0.9% to $1.0686 ahead of the European Central Bank‘s rate-setting meeting on Thursday, with traders demanding more clarity on what comes next, having already priced in many rises and the end of bond-buying stimulus Sterling fell 0.04 percent to $1.2523. It gained 0.29 percent in the previous session as Prime Minister Boris Johnson survived a no-confidence vote but was left vulnerable. The US dollar increased by 0.11 percent to 0.97125 Swiss francs

  • The price of 10 grams of gold is Rs 52,250, while the price of a kilogram of silver is Rs 62,000

    The price of 10 grams of gold is Rs 52,250, while the price of a kilogram of silver is Rs 62,000

    On Thursday, the price of 10 grammes of 24-carat gold increased by Rs 160 to Rs 52,250, while the price of one of silver increased by Rs 400 to Rs 62,000. The price of 10 grammes of 22-carat gold has increased by Rs 150, and the precious metal is now selling for Rs 47,900 The price of 10 grammes of 24-carat gold in Delhi and Mumbai is the same as it is in Bangalore, Hyderabad, and Kolkata, with the precious metal retailing for Rs 52,250 in these cities In Delhi and Mumbai, the price of 10 grammes of 22-carat gold is comparable to the price of 10 grammes of 22-carat gold in Bangalore, Hyderabad, and Kolkata, with the metal selling for Rs 47,900 in these cities. However, 10 kilos of 24-carat gold costs Rs 52,770 in Chennai and 10 grammes of 22-carat gold costs Rs 48,370 in the city.




    In Delhi, Mumbai, and Kolkata, one kilogramme of silver costs Rs 62,000, while the metal costs Rs 66,500 in Chennai, Bengaluru, and Hyderabad.

  • The rupee begins the day with a gain against the US Dollar

    The rupee begins the day with a gain against the US Dollar

    In early trade on Thursday, the rupee was trading higher versus the US dollar. However, due to a stronger dollar in outside markets, the immediate gain was limited On the interbank forex market on Thursday, the rupee rose 3 paise to 77.52 against thedollar Meanwhile, in early morning activity on Thursday, stock markets opened in the green. The Sensex rose 0.35 percent, or 190.36 points, to 53,939.62 points, while up 0.21 percent, or 33.90 points, to 16,059.70 points.





    In limited activity on Wednesday, the rupee rebounded 2 paise to close at 77.55 against the US dollar The US dollar recovered from two days of losses ahead of the release of the US Federal Reserve’s meeting minutes later this month. Against a basket of six major currencies, the US dollar index rose 0.4 percent to 102.25 The rupee opened higher versus the dollar in the interbank forex market, at 77.54, and traded in a range of 77.44 to 77.57 in the day session. The rupee finally closed at 77.55 against the dollar, up 2 paise from its previous finish of 77.57.

  • The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    The Sensex Drops 236 Points In Turbulent Trade, Reversing Early Gains

    On Tuesday, equity indices failed to hold onto their morning gains, with the Sensex dropping 236 points due to a sell-off in information technology firms and negative global market trends The opened higher but was unable to maintain its gains, falling 236 points, or 0.43 percent, to 54,052.61. It traded between 53,886.28 and 54,524.37 during the day. The broader NSE Nifty ended at 16,125.15, down 89.55 points, or 0.55 percent Among the Sensex pack’s biggest laggards were Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank.




    and Bajaj Finserv. Dr Reddy’s Laboratories, HDFC, Power Grid Corporation of India, Kotak Mahindra Bank, HDFC Bank, and Nestlé, on the other hand, were among the biggest gainers Hong Kong, Shanghai, Seoul, and Tokyo all finished lower in Asia. In the afternoon, European exchanges were also trading down. On Monday, US stock markets finished higher Brent crude, the international oil standard, fell 0.46 percent to $112.9 per barrel According to stock market data, foreign institutional investors continued their selling binge on Monday, offloading shares worth a net Rs 1,951.17 crore.

  • Bank of Baroda Expects ECB Inflows To Reduce As Iterest Rates Rise And The Currency Depreciates

    Bank of Baroda Expects ECB Inflows To Reduce As Iterest Rates Rise And The Currency Depreciates

    According to Bank of Baroda, corporate India’s offshore fundraising through external commercial borrowings (ECBs) may reduce in the coming months as monetary policy tightens and the rupee continues to depreciate ECBs have become a significant source of funding for businesses, including public sector entities. In reality, as of the end of December 2021, ECBs amounted for 36.8% of India’s external debt. According to RBI data, ECB approvals increased to $38.2 billion in FY22 from $34.8 billion the previous year.





    The relative cost advantage resulting from lower global interest rates for an extended period of time drove this increase in the use of the ECB route. It also supported growth by supplementing the country’s credit demand.

    With expected to rise, the relative appeal of ECB inflows may wane. In addition, the Indian currency’s recent devaluation will weigh on ECB inflows this year In a research note, BOB stated that on-lending/sub-lending is the most common reason for businesses to borrow cash from abroad. In FY22, its market share was 21.5 percent The firms also used monies raised through ECBs to fund previous ECBs. In FY22, this group had a share of 18.4 percent Rupee loan refinancing through new ECB approvals has climbed from from 6.5 percent in FY17 to 13.2 percent in FY22. According to BOB, ECBs are increasingly being used for new projects as well as modernization of existing ones.




    The capital market, banks, and foreign collaborators were the most common sources of ECB funding, according to data from the previous four year Lower global interest rates have prompted companies to look for funding in capital markets all over the world. Despite a substantial drop in global interest rates, the share of overseas capital markets in overall ECB approvals has risen sharply from 12.6 percent in FY19 to 33.2 percent in Other commercial banks’ market share has dropped from 44.4 percent in FY19 to 25.3 percent in FY22. Approvals from Indian commercial bank branches abroad, on the other hand, climbed from 14.7 percent to 19.8% in FY22.

  • The Dollar Takes A Break As US Yields Drop Ahead Of CPI

    The Dollar Takes A Break As US Yields Drop Ahead Of CPI

    The US dollar’s rally came to a halt as the DXY index dropped to 103.5 before the release of April’s US Consumer Price Index (CPI) numbers, while Treasury yields fell as investors switched away from a turbulent stock market amid fears about global growth and a potential inflation peak The Japanese yen (JPY) and Swiss franc (CHF), the top laggards in the previous quarter, gained ground against the USD as the US 10-year yield fell below 3% in European morning trading.
    Investors want to know if the US has achieved its inflation high, which might trigger the dollar and other significant currencies to react aggressively. The US CPI is expected to drop to 8.1 percent in April from a 41-year high of 8.5 percent in March, marking the first drop in annual inflation in seven months.





    However, rising energy costs on the one hand, and pressure on services pricing as a result of a reasonably strong US employment market on the other, might potentially lead to positive April inflation surprises Meanwhile, risk appetite is increasing today, with the Australian currency (AUD) and the New Zealand dollar (NZD) among the best performers, after Shanghai reported a 51% drop in new daily Covid-19 infections, while Beijing reported fewer instances as well After the head of the Bundesbank suggested that a rate hike could come in July and that waiting to change monetary policy is a risky strategy, the euro
    The Norwegian krone (NOK) increased by over 1% on the day, while the Canadian dollar (CAD) increased by 0.4 percentThe high-beta Swedish krona (SEK) was also one of the best performers today, rising roughly 1% against the dollar.