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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, ...
Wolfe Research warns of potential central bank policy errors amid elevated oil prices - Investing.com India
Wolfe Research warns of potential central bank policy errors amid elevated oil pricesInvesting.com India
Market Stress: How the Middle East war is rattling global markets and economies
The Middle East conflict is significantly impacting global economies, driving up oil prices and weakening currencies. Asia, heavily reliant on imported energy, faces particular vulnerability, with rising food inflation and consumer costs adding to economic pressures worldwide. Investors are closely watching central bank responses to these escalating geopolitical and financial challenges.
Gold near ₹1.51 lakh per 10 grams in India; silver at ₹2.50 lakh per kg
Gold and silver prices dip in India as MCX futures track weak global cues, with inflation, oil, and central bank signals keeping bullion under pressure.
Gold slips below ₹1.50 lakh per 10 grams; silver near ₹2.43 lakh per kg in India
Gold prices in India slip on MCX as global bullion nears one month lows, with analysts eyeing further downside amid strong dollar, oil and central bank risks.
Market jitters push 10-year yield higher, RBI policy eyed for cues
Indian markets remain volatile amid rising global tensions and elevated crude oil prices near $110 per barrel, which are adding to inflation concerns. The rupee has strengthened, supported by RBI liquidity measures and tighter forex rules. Meanwhile, the 10-year bond yield has climbed to 7.1%, marking its sharpest weekly rise since May 2022. Investors are now closely watching the RBI policy decision on April 8, where the central bank is expected to hold rates but may act to stabilise yields and currency.
Oil above $100 could widen current account deficit, pressure rupee: Emkay
Madhavi Arora, Chief Economist, Emkay Global Fin Services, says the RBI may prioritise financial stability over inflation if crude prices remain elevated. Oil above $100 could widen India’s current account deficit and pressure the rupee, while the central bank may have to balance currency intervention with domestic liquidity management. She noted inflation risks remain limited for now as fuel price increases have not been fully passed on to consumers.
LIVE: West Asia Conflict Escalates: Oil Near $97, Markets Brace for Impact | Opening Bell
Global markets are closely watching escalating tensions in West Asia as oil prices surge and safe-haven demand boosts gold. Brent crude is nearing $97 per barrel, while investors assess the impact on equities, inflation, and central bank policies. Catch Surabhi Upadhyay in conversation with Market Experts.
Bank Nifty falls over 2% as crude-driven inflation worries weigh; ICICI Bank, HDFC Bank among top Nifty losers
The weakness in banking stocks reflects macro concerns arising from surging crude oil prices amid the escalation of the Middle East conflict. Elevated crude oil prices have reignited inflationary concerns, stoking fears of tighter monetary policies and delay in interest-rate cuts by central banks.
Bank, OMC shares to remain in focus on Friday as crude rises after fresh US strikes in Iran
Oil prices rose after US officials said Central Command forces shot down four Iranian one-way attack drones near the Strait of Hormuz.