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MUMBAI(Reuters) -The Indian rupee is likely to open marginally higher on Tuesday, helped by the calm in Asian markets despite U.S. President Donald Trump imposing higher tariffs on South Korea and Japan among others. Trump's comments about nearing a trade agreement with India are supportive of the rupee, according to traders. The 1-month non-deliverable forward indicated a open in the 85.70-85.75 range, versus 85.8500 in the previous session. Trump on Monday sent letters to 14 countries, incl ...Read More >
MUMBAI (Reuters): The Indian rupee weakened to its lifetime low on Tuesday, hurt by concerns about a widening trade deficit and likely outflows from local equities, although intervention by the central bank capped losses. The rupee hit a low of 84.93 against the US dollar, before closing at 84.8950, down 0.04% on the day. Benchmark Indian equity indexes BSE Sensex and Nifty 50, closed lower by over 1% each, dragged by weakness in financial stocks and Reliance Industries. Investor sentiment was ...Read More >
Given the Thanksgiving holiday in the US, gold (XAU/USD) moved within a narrow range yesterday. XAU/USD rose only by 0.06%. Geopolitical risks and fears of a trade war continue to support the price of gold as a safe haven asset. Russian President Vladimir Putin said that Russia might use its new hypersonic missile to attack decision-making centres in Ukraine in response to the launch of Western missiles on its territory. Also, US President-elect Donald Trump promised earlier this week that tari ...Read More >
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