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INR stays hammered as dollar stands tall on hawkish Fed
The Indian rupee continues to stay pressured against the dollar in opening trades on Wednesday, tracking firm dollar overseas. Mildly positive start to local equities and easing oil prices are unable to support rupee that is hammered by gains in DXY on the back of a hawkish dollar overseas. INR opened at Rs 94.88 per dollar and hit a low of 94.93 so far during the day. Yesterday, the counter settled at 94.76. The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity.
Gold Price Today: MCX Gold Falls Over 1% To Rs 1.43 Lakh Amid US Dollar Pressure
MCX gold July futures contract slipped 1.1% to Rs 1,43,070 per 10 grams, while the MCX silver July futures dropped 0.58% to Rs 2,24,532 per kg.
Rupee weakens to 94.90 as dollar index hits one-year high
Indian rupee slips to 94.90 against US dollar as Fed hawkish stance, strong dollar and risk off sentiment overshadow support from lower oil prices.
Rupee falls 16 paise to open at 94.90 against US dollar
The rupee fell 16 paise to 94.90 against the US dollar as expectations of a Federal Reserve rate hike rise. Despite easing crude oil prices, the currency struggles, influenced by importer demand and the Fed's hawkish stance, with potential upside anticipated if it surpasses 95.
Gold rate crashes over 1% on MCX as US dollar index hits over 1-year high; experts highlight key levels to watch
Gold rate crashed by over 1% on MCX as the US dollar index jumped to a 1-year high. MCX gold August futures were 1.21% down at ₹1,44,759 per 10 grams, while MCX silver July futures were 0.71% down at ₹2,24,227 per kg around 9:10 am.
Gold, silver extend losses as strong dollar pressures bullion
Gold and silver prices fall as a stronger US dollar and rising US Federal Reserve rate hike expectations pressure bullion, markets eye key US PCE data.
From Gift Nifty, Nasdaq selloff, US dollar to oil prices: 10 key things that changed for Indian stock market overnight - Mint
From Gift Nifty, Nasdaq selloff, US dollar to oil prices: 10 key things that changed for Indian stock market overnightMint
Tech-Led global selloff, Fed rate fears weigh on Indian equities
Indian stock markets experienced their sharpest single-day drop in nearly a month, mirroring a global tech sell-off. The Nifty 50 and BSE Sensex both fell significantly, influenced by a strong US dollar and profit-taking after recent gains. While pharma and healthcare sectors showed resilience, most others, including metals and IT, declined. Market volatility increased, with analysts watching key support levels closely.
Gold, silver rates today: Comex gold and silver extend losses for third straight day as Fed rate-hike bets rise
Comex gold and silver prices continued to decrease as market expectations of a Fed rate hike strengthened the US dollar. Gold futures fell to $4,108, and silver dropped to $61.53, with silver experiencing an 18% loss in June alone and declining nearly 50% from its January peak.
Banks can offer loans for FCNR (B), rebook deposits, RBI clarifies
Indian banks can now lend against FCNR(B) deposits, with the RBI offering forex swaps only on the principal amount. This move aims to attract dollars by absorbing currency hedging costs for banks, boosting FCNR(B) rates to 6-7.1%. The central bank also clarified rules for stand-by letters of credit and introduced a swap facility for external commercial borrowings, easing dollar hedging for businesses.
Dollar index scales above crucial 101 mark
The dollar index scales above 101 mark for the first time in more than a year on Tuesday amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. However, the yield on the US 10-year Treasury note fell to 4.48% on Tuesday as markets reacted to signs that a USIran deal could move closer to a lasting agreement. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity. The dollar index that measures the greenback against a basket of currencies is quoting at 101.09. Among basket currencies, British pound weakened against a firmer US dollar but remained comfortably above $1.32 as investors balanced easing political uncertainty with weaker UK economic data. However, euro slumped to a one-year low. The Swiss franc weakened to near 0.81 per US dollar, falling near its weakest level since November 2025 amid a stronger U.S. ...
INR settles lower amid pessimistic global sentiments
The Indian rupee declined 11 paise to close at 94.74 (provisional) against the US dollar on Tuesday weighed down by a firm greenback and weak domestic markets. However, a decline in global crude oil prices cushioned against a sharper decline in the local unit. At the interbank foreign exchange, the rupee opened at 94.73 against the US dollar and traded in a range of 94.63-94.92 before settling at 94.74 (provisional), down 11 paise from its previous close. Indian stock indices Sensex and the Nifty50 ended notably lower on Tuesday, weighed down by weakness in global markets, FII selling and weak Indian PMI data. Global tech stocks fell amid concerns that AI-driven valuations have become overstretched, triggering heavy selling in the Indian tech space.