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Dollar index stays firm around a six week high
The dollar index stays firmly above 99 mark on Friday, amid growing uncertainty surrounding a deal between US and Iran. Elevated crude oil prices and ensuing higher inflation and interest rate scenario is keeping the dollar index afloat. The US Dollar Index, an index of the value of the US Dollar measured against a basket of six world currencies, currently trades near 99.25, a six week high. Data released by the US Department of Labor on Thursday showed that the number of Americans filing claims for unemployment benefits fell last week, indicating labor market resilience and providing the Federal Reserve (Fed) with room to focus on rising inflation.
Silver price on MCX falls to 2.73 lakh/kg on a strong dollar, oil price surge and US Fed rate hike concerns
Silver prices in India fell 0.5% to ₹2,73,266 per kg amid a stronger U.S. dollar and rising oil prices. Despite a weekly gain of 0.4%, concerns over inflation and geopolitical tensions kept market sentiment cautious.
Gold price drops on MCX on a stronger dollar; inflation concerns fuel rate hike buzz
Gold prices dropped on MCX on Friday morning on a stronger dollar. Gold has been under pressure over the last two months since the US-Iran war started, as a sharp jump in crude oil prices has driven the US dollar higher while stoking fears of an inflation flare-up.
Efforts being made to ensure adequate fuel supply at petrol pumps, says govt official
State-run fuel stations are seeing increased demand. This is happening because private companies have raised prices significantly. Bulk consumers are also buying fuel at retail outlets. This shift is causing shortages at some stations. The government is working to ensure adequate supplies. Crude oil and fuel supplies remain sufficient in the country.
Gold steady as oil falls on uncertainty over end to Iran war; dollar, yields ease
GLOBAL-PRECIOUS/ (UPDATE 9):PRECIOUS-Gold steady as oil falls on uncertainty over end to Iran war; dollar, yields ease
Gold, silver rates today: Comex gold tumbles $47/oz; silver drops $1.5 amid firm dollar, inflation fears
Precious metals faced selling pressure as crude oil prices rose, increasing inflation concerns and expectations of US rate hikes. Gold fell to $4,488 and silver to $74.69. The conflict in West Asia complicates potential peace talks, keeping oil prices high and impacting investor sentiment.
INR rebounds well from historic lows as oil retreats from elevated levels; geopolitical risk and oil price sensitivity to cap upside
The Indian rupee rebounded 49 paise from its all-time closing low to settle at 96.37 against the US dollar on Thursday after crude oil prices retreated from elevated levels amid signs of easing geopolitical friction, alongside likely central bank intervention. Rupee had gained after the recent geopolitical developments, but investors are still gauging the geopolitical risk and oil price sensitivity in the background. The one-year forward market rate for the rupee touched the crucial 100/USD mark on Wednesday, indicating that currency markets are pricing in a weakening bias for the USD/INR pair over the next 12 months. Meanwhile, The Nifty 50 settled at 23,654.70 (down 4.30 points or 0.02%), while the BSE Sensex closed at 75,183.36 (down 135.03 points or 0.18%). The dollar index rose above 99.2 on Thursday, approaching again April-highs, as markets continued to track developments in the Middle East.
Rupee Gains 49 Paise Against US Dollar After Oil Prices Retreat From Highs
The rupee rebounded from record lows after easing crude oil prices and possible RBI intervention boosted sentiment.
INR recovers from historic lows as oil pulls back; RBI announces $5 billion US Dollar/INR swap auction to defend rupee
The Indian rupee recovered well in opening trades on Thursday as global investors noted a slight pullback in crude oil prices over the recent comments on a potential final stage of the US-Iran conflict. INR opened at Rs 96.25 per dollar and hit a high of 96.05 so far during the day. Yesterday, the counter ended near the next critical level of 96.86, a new historic low. Meanwhile, in a major structural intervention to stabilise domestic financial markets, the Reserve Bank of India (RBI) has announced a $5 billion USD/INR buy-sell swap auction. Scheduled to take place next week on Tuesday, May 26, the central banks move is specifically engineered to inject durable, long-term Rupee liquidity into the commercial banking system. The Indian Rupee has faced persistent downward pressure, depreciating significantly against the American greenback in recent weeks due to ongoing global macroeconomic uncertainties and shifting foreign capital flows. By deploying this specialised monetary tool, ...
Rupee jumps 52 paise against US dollar as oil prices retreat
Indian rupee jumps to 96.30 per dollar as crude oil prices fall and US Treasury yields ease, but analysts warn gains may be capped amid global tensions.
Silver rate today holds ground as oil prices slip, Fed minutes signal higher rates; dollar, yields provide support
Silver prices in India fell 0.8% to ₹2,72,135 per kg amid easing geopolitical tensions and concerns over inflation. U.S. Treasury yields and a weaker dollar supported precious metals, while the Fed indicated caution on interest rate cuts due to a resilient labor market.
Rupee opens 52 paise higher at 96.30 against US dollar
The rupee strengthened by 52 paise to 96.30 against the dollar, aided by falling crude oil prices. Despite this, it remains on a nine-session losing streak, with a 2.5% decline. Experts suggest RBI's interventions may provide temporary relief amid geopolitical tensions.