India's economic engine is revving up, but navigating the global headwinds requires sharp strategy. The rupee's recent volatility against the dollar underscores the complexities facing Indian businesses, impacting everything from import-export trade to domestic inflation. This week alone, we've seen significant shifts in the IT sector, with major players announcing restructuring and a renewed focus on AI-driven solutions. Meanwhile, the burgeoning startup ecosystem continues to attract substantial funding, despite a cautious global investor sentiment. The government's recent policy announcements on infrastructure development and digitalization are poised to further shape the business landscape, creating both opportunities and challenges for entrepreneurs and established corporations alike. Understanding these market dynamics is crucial for success in today's rapidly evolving Indian economy. Stay informed with Abtak.com for the latest insights and analysis on key sectors including finance, manufacturing, and technology – empowering your business decisions in a dynamic market. Explore the complete business news section now to stay ahead of the curve.
New Delhi: Gold prices saw a marginal decrease compared to yesterday across the country. Throughout April, the gold market had reflected the effects of global dynamics, including demand and currency shifts. In Hyderabad, the price of 24 karat gold stands at Rs 1,49,757 per 10 grams, registering a fall of Rs 224. Meanwhile, 22 karat gold is priced at Rs 1,37,277.25 per 10 grams, down by Rs 205.33. The trends resonated in New Delhi, where 24 karat gold is being sold at Rs 1,49,757.00 per 10 grams after a drop of Rs 224. The price of 22 karat gold in the national capital is Rs 1,37,277.25, lower than Monday's closing price by Rs 205.33. The country's financial capital, Mumbai, also reported a dip in gold rates today. The price of 24 karat gold in the city is Rs 1,49,791 per 10 grams, down by Rs 190. The 22K gold rate is Rs 1,37,308.42, showing a decrease of Rs 174.17. Gold prices followed the same trend in Chennai, with 24K gold priced at Rs 1,49,811 per 10 grams, down by Rs 283. The 22K gold rate in Chennai is Rs 1,37,326.75, which has fallen by Rs 155.83.
The Reserve Bank of India raised the interest rate caps on Foreign Currency Non-Resident Bank (FCNR-B) deposits to attract more capital inflows, amid pressures on the rupee. Starting December 6, banks can offer higher rates -- up to 400 basis points for 1-3 year deposits and 500 basis points for 3-5 year deposits -- until March 31, 2025. This move comes as the rupee faces volatility.The Reserve Bank of India on Friday announced a raise in the interest rate caps on the Indian diaspora's foreign cu ...Read More >
Mumbai, Feb 10: The rupee on Monday plunged 45 paise and moved closer to the 88 per US dollar-level, weighed down by the strength of the American currency tariff concerns, but eventually settled at 87.45, up 5 paise, following RBI intervention. The American currency gained in the overseas market after US President Donald Trump's plans to impose 25 per cent tariffs on steel and aluminum imports, along with reciprocal tariffs targeting countries taxing US exports. The move has added jitters over the global trade war with China's reciprocal duties coming into effect, they said. At the interban ...Read More >
Mumbai, Jun 5 (PTI) The rupee snapped its two-day losing streak and closed 8 paise higher at 85.79 against the US dollar on Thursday, supported by positive domestic equities and a rise in Asian currencies. Forex traders said overnight softening of crude oil prices favoured the rupee. However, a strong US dollar index capped sharp gains. Besides, market participants are now keenly awaiting the outcome of the Reserve Bank of India's (RBI's) monetary policy meeting for further cues, they said. At the interbank foreign exchange, the domestic unit witnessed a volatile trading session -- it opene ...Read More >
Mumbai, July 9 (SocialNews.XYZ) The Indian stock markets closed lower after a volatile session on Wednesday amid selling in the IT and metals stocks, especially in Vedanta and Hindustan Zinc. Sensex settled at 83,536.08, down 176.43 points or 0.21 per cent. The 30-share index opened in negative territory at 83,625.89 against the last session's closing of 83,712.51. However, it showed some volatility, hitting an intra-day high at 83,781.36 before closing. Nifty fell 46.40 points or 0.18 per cent to end the session at 25,476.10. Following the allegations from US short-seller Viceroy Research, ...Read More >
New Delhi, June 29 (SocialNews.XYZ) There's good news for gold and silver buyers as prices of both precious metals saw a decline this week, bringing gold back below Rs 96,000 per 10 grams and silver under Rs 1.06 lakh per kilogram. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold is now Rs 95,784 per 10 grams, down from Rs 98,691 a week ago -- a sharp drop of Rs 2,907. Similarly, the price of 22-carat gold has come down to Rs 87,738 from Rs 90,404 per 10 grams. For 18-carat gold, the rate has dropped from Rs 74,018 to Rs 71,838 per 10 grams. Silver ...Read More >
Mumbai, Jul 1 (PTI) The high-value Rs 2000 notes worth Rs 6,099 crore are still in circulation even after two years of the Reserve Bank withdrawing the currency, according to official data released on Tuesday. Rs 2000 banknotes continue to be legal tender. On May 19, 2023, the Reserve Bank of India (RBI) announced the withdrawal of Rs 2000 denomination banknotes from circulation. In a statement, the RBI said the total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has d ...Read More >
NEW DELHI: The ED arrested a foreign currency businessman and one of the masterminds in a Chinese App investment fraud case involving over Rs 903 crore and seized incriminating documents during searches at his five premises in Delhi, an official said on Friday. Rohit Vij, the mastermind in the conversion of proceeds of crime into forex, was arrested on June 30 for his links to a fake investment app named 'LOXAM', claiming to be related to a reputed French MNC Group of the same name. The business entities and associates of Vij were searched under the provisions of PMLA, 2002, said an official. ...Read More >
Amritsar: BJP MP Nishikant Dubey from Jharkhand has claimed that Britain assisted India in executing the 1984 Operation Bluestar at the Golden Temple in Amritsar, stoking a new controversy.In a post on X on Monday, Dubey alleged that then PM Indira Gandhi "launched an attack on the Golden Temple in collaboration with Britain", with British Army officers present in Amritsar.He uploaded a classified British document, "Sikh Community", claiming that on Feb 23, 1984, the UK Foreign and Commonwealth Office mentioned in a letter that the Indian govt had sought British advice over a plan to remove Si ...Read More >
Mumbai: The rupee rose 22 paise to 85.72 against the US dollar in early trade on the back of fall in global crude oil prices and a weaker greenback. FII inflows and a positive domestic equity market further boosted the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.75 against the US dollar before rising further to 85.72, up 22 paise against its previous close. The local unit logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday. "The rupee recovered towards closing yesterday (Monday) after falling due to heavy d ...Read More >
At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close The rupee fell 2 paise to trade at 84.49 against the U.S. dollar in early trade on Friday (November 29, 2024) dragged down by significant foreign fund outflows and month-end dollar demand from importers. Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks. At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close. On ...Read More >
Mumbai: The Indian rupee weakened 28 paise to 85.75 per dollar on Monday due to strong dollar demand by both foreign and domestic banks, even as other Asian currencies strengthened amid a weaker dollar index. The domestic unit had previously closed at 85.47/$1. The Reserve Bank of India likely intervened by purchasing dollars via state run banks, traders said. The rupee traded in a range of 85.44/$1 to 85.78/$1, LSEG data showed. Dollar index was trading near its 3-year low at 97.1. "There was dollar buying by nationalised banks, likely on behalf of RBI. Oil companies and importer dollar dem ...Read More >
New Delhi, Jul 9 (PTI) The Centre has informed the Delhi High Court it has no plans to introduce Rs 50 coin as people prefer banknotes. The submissions came in response to a PIL seeking directions to produce currency notes and coins, particularly Rs 50 and below, which would be easily identifiable by blind persons. A division bench of Chief Justice D K Upadhyaya and Justice Anish Dayal on Wednesday noted though the counter affidavit was filed with the registry, it was not on record. "Let necessary steps be taken for bringing the same on record," the bench said and adjourned the matter. The ...Read More >
Trump warns BRICS nations against replacing US dollar Dec 2 (Reuters) - A gauge of emerging market stocks rose on Monday, driven by positive manufacturing data from China and expectations of continued policy support from Beijing, while India's rupee hit a record low because of weaker-than-expected economic data. As of 0932 GMT, the MSCI's index for emerging market stocks had risen by 0.7%, on track for its biggest percentage gain in over three weeks. China's blue-chip CSI 300 climbed 0.8%, and the Shanghai Composite index jumped 1.1% after a private survey indicated that Chinese factory act ...Read More >
Mumbai: The rupee declined 14 paise and touched the crucial 86.00-mark (provisional) for the first time against the US dollar Friday as it failed to resist pressure from a stronger American currency and huge outflow of foreign funds. Surging crude oil prices overseas and negative sentiment in domestic equity markets also weighed down the Indian currency, forex traders said. Also, dollar strengthened on increased demand amid the anticipation of restrictive trade measures by the new US administration after Donald Trump takes over as president January 20. At the interbank foreign exchange, the ...Read More >
Mumbai: The rupee rose 22 paise to close at 85.50 against the greenback on Friday on the back of sustained inflow of foreign funds and firm domestic equity markets. Lower level of American currency index also favoured the Indian unit though an uptrend in crude oil prices capped its gain, forex traders said. Foreign institutional investors (FIIs) purchased equities worth Rs 1,397.02 crore on a net basis on Friday, according to exchange data. This inflow came on the heels of a net buying of equities worth Rs 12,594.38 crore on Thursday. At the interbank foreign exchange, the rupee opened at 8 ...Read More >
Gold Rate in India Today: The price of gold in India continued its downward trajectory and brought cheers among gold jewellery buyers. Falling gold rate in India today is a reflection of consolidating international prices of the bullion amid easing geopolitical tensions and improving trade prospects. Gold Rate in India today has plunged to its 10-day low mark of Rs 97,420 per 10 gram amid easing tensions between Israel and Iran. The precious metal prices jumped phenomenally over the past few days as clashes between the two nations were followed by United States air strikes on Iranian nuclear ...Read More >
Mumbai, Jul 1 (PTI) Rupee appreciated 17 paise to close at 85.59 against the US dollar on Tuesday, supported by weakness of the American currency in the overseas market and a positive tone in the domestic equities amid rise in risk appetite. Forex traders said the US dollar is trading at lowest levels since February 2022 as President Donald Trump's growing influence on Federal Reserve policy revived fears over the central bank's independence. Moreover, Brent crude prices remained subdued, offering a buffer to India's import bill and helping cool inflation. At the interbank foreign exchange, ...Read More >
MUMBAI (Reuters) -The Indian rupee is expected to open lower on Wednesday, tracking declines in most other Asian currencies and equities amid renewed worries over U.S. President Donald Trump's tariffs. The 1-month non-deliverable forward indicated a open in the 85.62-85.64 range, versus 85.52 on Tuesday. The rupee has been largely range bound in recent sessions, holding between the key support zone at 85.90-86.00 and resistance near 85.30. "Both of these levels are difficult to break," a currency trader at a bank said. "You'll likely have to wait until July 9 for a decisive move, and that's ...Read More >
CHENNAI: The Tamil Nadu Anti-Terrorism Squad (ATS) of the state police on Tuesday said it has arrested two accused wanted in several bomb blasts and communal murder cases after being on the run for over 25 years. The key accused among the two is Abubacker Siddique of Nagore. He is allegedly involved in the attempt to plant a pipe-bomb during the rath yatra of former home minister LK Advani in Madurai in 2011, among others. Other cases he is allegedly involved include the bomb blast at Hindu Munnani office in 1995 in Chennai, an explosion in Nagore the same year, and coordinated planting of bo ...Read More >
MUMBAI, July 3 (Reuters) - The Indian rupee touched its strongest level in a month on Thursday, lifted by dollar sales from foreign banks and cutting of bearish bets on the local currency, while optimism surrounding a U.S.-India trade deal also aided sentiment. The rupee rose to a peak of 85.20, its best level since late May, before ending the session at 85.31, up 0.4% on the day. Dollar sales from foreign banks in the latter half of Thursday's session boosted the rupee, with the rise above 85.40 also triggering stop-losses on some wagers against the currency, traders said. Asian currencies ...Read More >
Mumbai, Jul 10 (PTI) The rupee pared initial gains and settled for the day higher by 4 paise at 85.69 (provisional) against the US dollar on Thursday, supported by US-India trade deal optimism, even as domestic equity markets were closed in the negative territory. Forex traders said the Indian rupee ended the day in green against the US dollar amid firm expectations that India and the US will reach a deal soon. At the interbank foreign exchange, the rupee opened on a positive note at 85.62 against the US dollar, and traded in a range of 85.69 and 85.53 during the day. The local unit finally ...Read More >
AHMEDABAD: Homegrown pharma major, Zydus Lifesciences Limited, on Tuesday reported a 17.3% rise in consolidated net profit for FY 2025 at Rs 4,525.5 crore, up from Rs 3,859.5 crore in the previous year, driven by strong US and India sales. The board recommended a final dividend of Rs 11 per equity share, subject to shareholder approval at the AGM on 12 August 2025.For the March quarter (Q4), net profit fell marginally by 1.0% to Rs 1,170.9 crore from Rs 1,182.3 crore a year earlier, impacted by a one-time loss of Rs 220 crore. Adjusted for this, net profit rose 18% year-on-year to Rs 1,390.5 c ...Read More >
The long-term debt (with original maturity of above one year) at end-March 2025 was placed at $601.9 billion, an increase of $60.6 billion over its level at end-March 2024. India's external debt rose to $736.3 billion, or 19.1 per cent of gross domestic product (GDP), at the end of March 2025 from $668.8 billion, or 18.5 per cent of GDP, a year ago. In a statement, the Reserve Bank of India (RBI) said the valuation effect due to the appreciation of the US dollar vis-à-vis the Indian rupee and other currencies amounted to $5.3 billion. Excluding the valuation effect, external debt would have ...Read More >
New Delhi [India], July 2 (ANI): The Indian rupee is expected to trade in the range of 85.25-86.25 against the US dollar in the near term, according to a recent report by Bank of Baroda. The report stated that a trade deal between India and the United States will be positive for the rupee and may help support its value further. 'We expect INR to trade in the range of 85.25-86.25/USD in the near term. A trade deal between India and the US will be positive for the rupee,' the report noted. However, some amount of volatility is expected as the US tariff pause deadline on July 9 approaches. De ...Read More >
Gold Rate in India Today: The price of 24, 22, and 18K gold reversed their momentum and have surged up to Rs 16,300 per 100 gram in the first two days of July. Surge in gold rates today mirrors rising international gold rates against the backdrop of a weakened US dollar, fiscal trade concerns, and geopolitical uncertainty. The gold rate in India today has surged significantly over the past two days. The price of the precious metal has surged by more than 25% since the beginning of the year 2025 due to heightened trade tensions and market volatility. Gold Rate in India Today Gold rate in Ind ...Read More >
1. India: New strategy on FX volatility The Indian Respondents' Bank (RBI) is allowing more volatility on the USD/INR exchange rate, prompting many companies to hedge with forward contracts. This is the highest level of coverage since 2020. We thank in advance our Official Broker Partner PEPPERSTONE who supported us in writing this article. FX Impact: Potential weakening of the rupee in the short term, but increased stability in the medium-long term. Volatility on USD/INR, EUR/INR, JPY/INR ? opportunities for carry trades and short-term shorts if the dollar strengthens. 2. Australia hit ...Read More >
Mumbai: The Indian rupee touched its strongest level in a month on Thursday, amid increasing optimism that the India-US trade deal would happen in the next 48 hours and also owing to dollar sales from foreign banks, traders said. The rupee closed 39 paisa stronger at 85.31 per dollar, up from its previous close of 85.70 to $1, LSEG data showed. The rupee had appreciated to 85.18 to $1 during the day, its best level since late May, but likely intervention from the Reserve Bank of India (RBI) capped excess appreciation in the currency. Asian currencies mostly rose, while the dollar index remai ...Read More >
New Delhi [India], July 4 (ANI) In a major crackdown on cyber-enabled financial fraud, the Enforcement Directorate (ED) has arrested one Rohit Vij, identified as one of the masterminds behind a Chinese app-based investment scam involving the fake mobile application 'LOXAM. As per a statement from the ED, the accused lured unsuspecting investors with promises of unrealistically high returns, defrauding them through the fraudulent app. Vij, the mastermind in the conversion of proceeds of crime into forex (foreign exchange), was arrested on June 30 and has been accorded five-day ED custody by a ...Read More >
Mumbai, Jul 7 (PTI) The rupee logged a steep fall of 54 paise to settle at 85.94 against the US dollar on Monday amid rising global crude oil prices and a strong American currency. Subdued sentiment in domestic equities due to uncertainties over US President Donald Trump's trade tariffs put further pressure on the local unit, according to forex traders. At the interbank foreign exchange, the domestic currency opened at 85.53 against the greenback and traded in a wide range of 85.51-86.03 before settling at 85.94, lower by 54 paise from its previous close. The rupee rose 15 paise to settle a ...Read More >
Trump's pressure on countries to remain tied to a US-dollar-based financial system could backfire, with potential increased motivation for BRICS to create alternatives. While the dollar's dominance persists due to existing economic strengths, recent global currency agreements indicate a cautious shift away from reliance on the greenback.Donald Trump's pressure on countries around the world to stay anchored to a US-dollar-based financial system is a tactic that risks backfiring, market watchers say. Dollar dominance looks set to continue for the foreseeable future and emerging nations' idea of ...Read More >