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Gold, silver rates today: Comex gold and silver edge higher as dollar retreats, oil eases
Precious metals fluctuated on 9 June, with gold rising $25 to $4,388 and silver up $0.6 to $69.18. Easing Middle East tensions and a weakening US dollar supported prices. Investors await key US economic data amid expectations of a Federal Reserve rate hike in December.
BP names heads for two main businesses after revamp
BP is reorganising its business into two core units, upstream and downstream. Gordon Birrell will lead the upstream operations, while Richard Harding takes charge of downstream on an interim basis. This strategic shift aims to simplify operations and refocus on oil and gas. Renewable energy investments will be scaled back.
INR recovers momentum as local equities rebound; recent oil and dollar spike fades amid signs of easing geopolitical tensions
The Indian rupee recovered momentum to settle higher by around 28 paise at Rs 95.31 per dollar on Tuesday, supported by retreating international oil prices and small pullback in dollar overseas. Meanwhile, local equities also rebounded from two-month lows as a halt in hostilities between Israel and Iran boosted hopes that peace negotiations could move forward. Geopolitical tensions eased somewhat, the dollar weakened and Brent crude futures fell below $93 a barrel as Israel and Iran agreed to halt attacks against each other following a series of mutual attacks from Sunday night, which marked the most serious escalation since the ceasefire in April. The BSE Sensex settled 394.50 points (0.54%) higher at 73,918.76, while the NSE Nifty 50 advanced 119.10 points (0.52%) to close at 23,242.10.
Rupee Gains 25 Paise As Oil Prices, Dollar Ease Amid US-Iran Truce
The rupee finally ended the session at 95.36 (provisional), registering a rise of 25 paise from its previous close.
INR stays pressured amid elevated oil prices and firm dollar overseas
The Indian rupee is staying largely unchanged in opening trades on Tuesday amid elevated oil prices and relatively firm dollar overseas. INR opened at Rs 95.47 per dollar and hit a low of 95.62 so far during the day. Yesterday, rupee lost further momentum and settled the day lower by around 40 paise at Rs 95.61 per dollar. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at .
Nifty, Sensex Rise as Oil and Dollar Ease; IT Stocks Lead Early Sentiment - Investing.com India
Nifty, Sensex Rise as Oil and Dollar Ease; IT Stocks Lead Early SentimentInvesting.com India
Rupee opens 24 paise stronger against dollar as oil prices cool, risk sentiment improves
Indian rupee gains to 95.47 against US dollar, boosted by softer crude and RBI inflow measures, as markets watch oil prices and US Federal Reserve outlook.
RBI launches forex swap facility for PSU ECBs, bank foreign borrowings
The RBI has introduced a special forex swap facility for PSU overseas borrowings and banks' foreign currency funding, seeking to boost dollar inflows as higher oil prices, rupee weakness and global uncertainty weigh on external balances.
Rupee gives up inflow-boost gains as oil surge, conflict fears weigh
The rupee fell 0.8 per cent against the dollar as renewed West Asia tensions pushed crude oil higher, while equity weakness and dollar demand added pressure
INR dragged lower by negative cues from equities, surging oil and firm dollar overseas
The Indian rupee lost further momentum during the course of the day and is seen settling the day lower by around 40 paise at Rs 95.57 per dollar. Elevated crude oil prices and firm dollar index around 100 mark are seen pressurizing rupee. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at 23,123.00. Also, rupee weakened despite the Indian government introducing a ...
Rupee Falls 56 Paise To 95.74 Against US Dollar As Crude Oil Prices Surge
At the interbank foreign exchange market, the rupee opened at 95.35.
Dollar index holds above 100 mark
The US dollar index surged above 100 mark on Friday to a two month high following strong US jobs report that increased possibility of a Federal Reserve interest rate hike soon. Jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% fueling concerns that elevated borrowing costs could weigh on economic growth and investment. Meanwhile, lack of any concrete settlement on US and Iran war front that is keeping oil prices elevated is also adding to inflationary pressures and flocking inventors to dollar for respite. US stocks also slumped on Friday after a strong jobs report consolidated the outlook of restrictive interest rates, while chip producers extended their selloff. The dollar index that measures the greenback against a basket of currencies ended the week at 100.03, up 0.67% on the day.