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INR soars well under 95 per US dollar mark as local equities extend gains
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India's 10-year bond yield hits lowest since March 25 amid US-Iran peace hopes
India 10-year bond yield hits lowest since March as crude falls, US Iran peace eases supply fears, RBI steps up dollar inflow measures, rupee strengthens.
Silver soars Rs 7,200/kg; gold prices surge Rs 3,300/10 gm as Iran-US reach peace agreement. Time to buy precious metals?
Gold and silver prices surged sharply on MCX after a preliminary Iran-US peace agreement weakened the dollar and eased oil prices. Silver jumped Rs 7,200/kg while gold rose Rs 3,300/10 gm. Analysts see further upside, with key support and resistance levels guiding near-term trading strategies.
Rupee jumps 43 paise to open at 94.68 against dollar, strongest level since May 8
Indian rupee hits strongest level since May 8 as US Iran peace deal eases tensions, Brent crude falls, lower oil prices boost outlook for India.
Gold rate today: MCX gold price above ₹1.53 lakh per 10 grams, silver price jumps over 2% after US-Iran peace deal
Gold rate today: Gold prices jumped over 2% as the dollar sank after the announcement of the US-Iran peace deal. The US and Iranian officials agreed on a framework to end their war in the Middle East, halt the US blockade of Iran and reopen the Strait of Hormuz.
Sensex Today | Stock Market LIVE Updates: GIFT Nifty extends gains further to 300 pts; Vedanta in focus
Sensex Today | Stock Market LIVE Updates: The peace deal, and the resultant fall in oil prices brings OMCs, IndiGo, the currency and all the stocks exposed to West Asia back in focus. A fall in the US Dollar index will also bring Metals in the spotlight, a sector that underperformed last week.
COMEX gold jumps over 2%, silver rallies 3.5% amid softer dollar and lower oil prices
Gold and silver rally as a weaker US dollar, falling oil prices and easing inflation expectations boost precious metals, outlook hinges on West Asia peace.
Indian rupee also gains big against the US dollar
In a remarkable turn of events on Friday, the Indian rupee surged against the US dollar, largely due to a significant decrease in crude oil prices worldwide. Investor confidence was further lifted by President Trump’s remarks hinting at a potential resolution to the conflict with Iran. The currency settled at 95.
India's forex reserves drop $711 mn to $681.610 bn: RBI data
India's forex reserves dropped USD 711 million to USD 681.610 billion during the week ended June 5 due to a sharp decline in foreign currency reserves, the RBI said on Friday. In the previous reporting week, the overall reserves had jumped USD 938 million to USD 682.321 billion. For the week ended June 5, foreign currency assets -- a major component of the reserves -- was down USD 2.704 billion to USD 543.444 billion, the data released by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, foreign currency assets include the effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. However, the value of gold reserves increased USD 1.975 billion to USD 114.575 billion during the week, the RBI said. The special drawing rights (SDRs) were up USD 18 million to USD 18.765 billion, the RBI said. India's reserve position with the IMF stood at USD 4.826 billion in the reporting week, it added.
SBI, Bank of Baroda plan first dollar bonds under RBI subsidy window
Both banks are targeting to raise around $500 million through five-year dollar bonds
Dollar index retreats amid reduced safe haven demand as Trump signals peace agreement with Iran
Dollar index is trading mildly lower on Friday, weighed down by reduced safe-haven demand as President Donald Trump said a peace agreement with Iran could be signed as soon as this weekend. According to Trump, the agreement would safely reopen shipping lanes through the critical Strait of Hormuz and include firm commitments from Iran to forgo the development of nuclear weapons, media reports stated. Sharp drop in oil prices amid improving optimism of a peace deal could ease concerns about stubborn inflation and the need for interest rate hikes in near futures is adding pressure on the greenback. The yield on the US 10-year Treasury note hovered around 4.47% on Friday. At the time of writing, DXY that measures the greenback against a basket of currencies is quoting at 99.55 after having hit 100 at the start of the week. For the week, DXY is down around half a percent.
RBI move sparks race among banks to raise FCNR(B) deposit rates; smaller lenders offer over 7% on USD deposits
Banks are aggressively increasing interest rates on NRI dollar deposits. This move follows a special RBI dispensation to boost foreign currency inflows. Several lenders are now offering over 7 percent on US dollar FCNR(B) deposits. This initiative is expected to attract significant foreign currency into India. The competition among banks is intensifying to secure these valuable overseas funds.