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FX swap window may spur PSU rush for overseas loans
Public sector units like PFC, REC, and NaBFID are poised to increase their External Commercial Borrowings (ECBs) to leverage the RBI's 1.5% fixed-rate swap. This initiative is expected to attract significant dollar inflows, offering Indian companies cheaper funding options below 7% compared to domestic rates.
Silver rate today slumps 2% to ₹2.34 lakh as dollar, oil prices surge amid escalating US-Iran tensions
MCX Silver rate fell almost 2% to ₹2,34,000 per kg, while, MCX Gold price lost 1.7% to ₹1,49,888 per 10 grams.
Gold rate today: MCX gold price slips below ₹1.5 lakh per 10 grams, silver price crashes by ₹4,500 per kg
Gold rate today: Gold prices in the international market slumped to an 11-week low, as the dollar and crude oil prices rose on renewed hostilities between the United States and Iran, raising concerns about inflation and interest rate hikes.
From Gift Nifty, US-Iran war, dollar to bond yields: 8 key things that changed for Indian stock market overnight - Mint
From Gift Nifty, US-Iran war, dollar to bond yields: 8 key things that changed for Indian stock market overnightMint
Asian markets slump after latest escalation between US and Iran leads to oil spike
Asian stocks and tech shares fell after US strikes on Iran, oil rose, the dollar strengthened, defensive S&P 500 sectors gained, and focus turns to the US inflation report
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.
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.
RBI introduces US dollar-rupee forex swap facility for fresh FCNR deposits
The Reserve Bank introduced a US dollar-rupee forex swap facility for fresh FCNR (B) deposits mobilised by banks for a minimum tenor of three years and a maximum of five years to attract foreign capital. Foreign Currency Non-Resident (Bank) deposits are foreign currency term deposits maintained by non-resident Indians (NRIs). The swap facility will be available to the AD Category I banks for fresh FCNR(B) deposits mobilized in any freely convertible currency, including deposits that are renewed upon maturity, for a minimum tenor of three years and maximum tenor of five years. However, the swap facility with RBI will be available in US Dollars only, RBI stated. Under the swap arrangement, a bank can sell US Dollars in multiples of USD one million to the RBI and simultaneously agree to buy the same amount of US dollars at the end of the swap period, the central bank circular said.
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
RBI opens a dollar swap window to help hedge foreign borrowings
The Reserve Bank of India is introducing a dollar-rupee swap facility for banks. This move aims to help state-run firms and lenders hedge their foreign currency borrowings. The facility will be available at a fixed cost of 1.5% per annum. This initiative is expected to encourage significant inflows into the FCNR-B window.
RBI unveils dollar-rupee swap window to draw inflows, steady rupee
New FCNR and ECB swap windows aim to attract long-term foreign currency deposits and cut hedging costs for banks and companies.