Market News
Stay updated with the latest market trends, earnings, and economic indicators.
INR stays pressured amid elevated international oil prices
The Indian rupee slipped back and is hovering around record low levels in opening trades on Thursday as international oil prices ticked higher. INR opened at 95.74 per dollar and hit a low of 95.79 so far during the day. Yesterday, the unit hit an all-time low of 95.80 against the US dollar, and settled at 95.67 near its record closing low level amid elevated crude prices and West Asia geopolitical concerns. The rupee has become the worst-performing currency in Asia for the year, registering a loss of over 6 per cent so far this year, as elevated crude oil prices, a strong dollar and concerns regarding the West Asia crisis weighed on investor sentiments. Govt action of hiking import duties on gold and silver to 15 per cent failed to give much respite to the local unit. Moreover, Indias consumer price inflation in April rose for the sixth straight month to 3.48% from 3.40% in March. Food inflation, a key constituent of the countrys consumer price index, hit 4.2%, up from 3.87% in ...
INR settles near record low level amid inflationary concerns
The rupee on Wednesday slipped to an all-time low of 95.80 against the US dollar, and settled at 95.67 near its record closing low level amid elevated crude prices and West Asia geopolitical concerns. The rupee has become the worst-performing currency in Asia for the year, registering a loss of over 6 per cent so far this year, as elevated crude oil prices, a strong dollar and concerns regarding the West Asia crisis weighed on investor sentiments. Govt action of hiking import duties on gold and silver to 15 per cent failed to give much respite to the local unit. Moreover, Indias consumer price inflation in April rose for the sixth straight month to 3.48% from 3.40% in March. Food inflation, a key constituent of the countrys consumer price index, hit 4.2%, up from 3.87% in March, Indias Ministry of Statistics and Program Implementation said in a release.
Rupee slips to all-time low of 95.80 against dollar amid oil, forex pressure
Rupee hits all-time low of 95.80 against US dollar, early gains fade despite higher gold and silver import duties, outlook tied to oil and dollar trends.
The 2013 ghost returns: Will higher gold duties actually restrict imports or just fuel the grey market?
India’s shock hike in gold and silver import duty to 15% has revived memories of the 2013 crisis. While the move aims to curb dollar outflows and stabilise the rupee, experts warn it may simply push more demand into the grey market, with limited impact on India’s structural gold appetite.
INR seen mildly supported as govt raises gold tariff
The Indian rupee is seen recovering some of its lost momentum from record low levels in opening trades on Tuesday after the govt stepped in to stabilize the local unit. The govt has raised import tariffs on gold and silver to 15%, reversing the 2024 duty cuts, as the government moves to curb surging precious metal imports, narrow trade deficit and support the rupee amid mounting external pressures. INR opened at Rs 95.52 per dollar and rebounded to a high of 95.51 so far during the day. Yesterday the counter closed at 95.68. Indian shares are seen opening little changed on Wednesday after two consecutive heavy sell-off sessions. Yesterday, Indian equity markets experienced a sharp decline, with the Sensex settling 1,456.04 points (1.92%) lower at 74,559.24 and the Nifty 50 falling 436.30 points (1.83%) to close at 23,379.55.
Rupee edges higher against dollar on gold, silver duty hike, but US yields weigh
Rupee opens slightly stronger at 95.60 as India hikes gold and silver import duties to 15% to curb imports and support forex, but global inflation and US yields keep pressure.
Rupee opens 2 paise higher at 95.61 against the US dollar
The rupee opened at 95.61 against the US dollar, aided by increased import duties on gold and silver. However, elevated oil prices and US inflation could limit gains. India raised tariffs to reduce demand and support the currency amid a trade deficit exacerbated by rising crude prices.
Gold, silver rates today: Comex gold drops $67/oz; silver tumbles $2.2/oz amid rising oil prices and higher inflation
Gold and silver prices fell on May 12 due to rising Middle East tensions, higher crude oil prices, and a stronger US dollar. Gold dropped to $4,660 per ounce, while silver fell to $83.67. US inflation reached 3.8%, complicating the Federal Reserve's policy decisions.
Silver rate in India jumps 1.5% to ₹2.82/kg on Hormuz tensions, weak dollar ahead of US inflation data
MCX silver rate advanced 1.5% to ₹2,82,463 per kg, while MCX gold price advanced 0.3% to ₹1,54,150/10 grams.
Gold, silver under pressure in India as MCX prices slip below key levels
Gold and silver prices fall in India and globally as a stronger dollar, higher crude oil and US–Iran tensions pressure bullion, analysts see range-bound trade.
Gold, silver prices today: Check retail rates of 24K, 22K gold, 999 silver on 11 May in Delhi, Mumbai and Kolkata
Gold price today remained steady across major Indian cities as 24K, 22K gold and silver rates showed limited movement amid rising geopolitical tensions and strong safe-haven demand.
Explained: What is keeping gold and silver prices range-bound
Gold prices ease as silver extends gains, with US-Iran tensions, stronger dollar and upcoming global data keeping bullion traders cautious.