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Rupee at 100 vs US dollar - Can US-Iran war, surging crude oil prices push domestic unit to three-digit mark next week?
The Indian Rupee fell to a record low of 92.44 against the US Dollar due to rising oil prices, geopolitical tensions, and foreign fund outflows. Domestic stocks also declined sharply, contributing to currency pressures and inflation concerns, with experts warning of potential further depreciation.
INR recovers from record lows but settles beyond 92/$ mark
The Indian rupee recovered from record low levels and settled with a loss of 16 paise at 92.17 (provisional) against the US dollar on Thursday as global crude oil prices stayed on an upward trajectory amid the raging war in West Asia. A stronger greenback and volatility in the domestic equity markets further weighed on the rupee, which was already on a weak footing in early trade due to heavy foreign fund outflows. Indian shares fell sharply on Thursday to extend losses from the previous session as the prospect of a quick end to the war in West Asia thinned and trade tensions resurfaced. At close, the Sensex declined 829.29 points, or 1.08 per cent, to settle at 76,034.42, taking its two-day decline to 2,171.56 points. While the Nifty slipped 227.70 points, or 0.95 per cent, to close at 23,639.15, it slipped 2.56% in two sessions. At the interbank foreign exchange, the local unit opened at 92.25 but kept slipping to touch its record intra-day low against the greenback at 92.36. ...
AlphaGrep gets Sebi approval to launch mutual fund business
AlphaGrep has received approval from Sebi to launch its mutual fund business, aiming to provide retail investors with access to sophisticated investment tools.
Gold, silver ETFs gain up to 4% as precious metals rise amid weak dollar
At 10:48 AM, among others, DSP Silver ETF and Axis Silver ETF up 4 per cent each
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