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New Delhi: Gold prices slipped below Rs 79,000 per 10 kg in the national capital on Wednesday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity fell by Rs 150 to Rs 78,850 per 10 grams. It had closed at Rs 79,000 per 10 grams in the previous session. Price of gold of 99.5 per cent purity extended the losses for the third straight day, declining by Rs 150 to Rs 78,450 per 10 grams fro ...Read More >
BENGALURU (Reuters) - The Indian rupee will break through 85 per U.S. dollar to hit a new low in the next six months even as the Reserve Bank of India continues to intervene to stem the currency's losses, according to a Reuters poll of FX strategists. The results come days after news that growth in India, the world's fastest growing major economy this year, unexpectedly slowed sharply to an annual 5.4% in the latest quarter, triggering speculation the RBI may cut interest rates on Friday. Only ...Read More >
Mumbai, Dec 4 (PTI) Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations of status quo on interest rate as the retail inflation is above the upper tolerance level of the central bank. The decision taken at the RBI Governor Shaktikanta Das headed six-member Monetary Policy Committee (MPC) [...] Mumbai, Dec 4 (PTI) Reserve Bank's high level panel on Wednesday started deliberations on the bi-monthly monetary policy amid expectations ...Read More >
The Chinese yuan was also facing its own challenges from the growing threat of more U.S. tariffs on China, pushing it down to a 13-month trough. Japan's tech-heavy Nikkei jumped 1.6% as of 0200 GMT, and South Korea's KOSPI advanced 1.7%. Taiwanese shares gained 1.1%. Australia's stocks benchmark rose 0.7% and reached a fresh all-time high. However, Chinese stocks were under pressure, with Hong Kong's Hang Seng edging slightly lower and mainland blue chips falling 0.3%. MSCI's broadest index ...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 s ...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 rupe ...Read More >
SYDNEY (Reuters) - The dollar was looking to extend its bull run on Monday as lofty Treasury yields and a more restrained outlook for U.S. rate cuts burnished its attractiveness, though the risk of intervention had caused a pullback against the yen. Yen bears were tense in case Bank of Japan Governor Kazuo Ueda used a speech later Monday to flag a possible rate hike in December, in part due to the weakness of the currency. Ueda will deliver a speech at 0100 GMT, followed by a media confere ...Read More >
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