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India Inc eyes more dollar debt as RBI policy support kicks in
Driven by central bank moves in February and June to lower hedging costs and ease rules, local firms are aggressively swapping out rupee loans for offshore funds.
Gold, silver rates today: Comex gold slips below $4,000, silver falls $1.6 amid US Fed rate hike fears
Gold and silver prices fluctuated on June 30, driven down by a strong US dollar and interest rate hike expectations. Gold fell to $3,955, nearing a 12% monthly decline, while silver dropped 21% in June, reflecting overall market correction amid geopolitical tensions and changing investor sentiment.
RBI's net short forward dollar position increases to $106 bn by end-May
RBI's net short dollar position in the forward market rose to $106.66 billion in May, with increases across both short- and long-term maturity buckets
INR settles lower amid risk-averse investor sentiment
The Indian rupee depreciated by 14 paise to close at 94.65 (provisional) against the US dollar on Tuesday, as a strengthening greenback overseas and risk-averse investor sentiment weighed on the local unit. The dollar index shifted back above 101 mark on Tuesday after a slight pull back below the levels in the previous session. Elevated expectation for a Federal interest rate hike is seen lending consistent support to the greenback. Markets are staying cautious around 101 mark surrounding the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday. Markets will also look forward to resumption of US-Iran peace talks in Doha that could help ease inflation concerns. The rupee briefly slipped to 95.55 against the US dollar as per CCIL data, driven by month-end corporate import demand and lingering risk-off sentiment. However, relatively stable global crude prices and anticipated central bank interventions supported the currency and restricted the ...
Bypassing US Dollar? India, Japan Eye Direct Yen-Rupee Settlement For Bilateral Trade
India, Japan plan direct yen-rupee settlements to cut costs and reduce dollar reliance.
Rupee Depreciates 15 Paise To 94.65 Against US Dollar On Month-End Demand
On Monday, the rupee had pared initial gains and settled lower by 6 paise at 94.51 against the dollar.
Markets should beware 'pain trade' shocks in the second half: HSBC
Markets should brace for "pain trades" in the second half of this year, including a steepening U.S. Treasury, unabated AI trade and an "explosive" U.S. dollar, according to an HSBC report.
Dollar index reclaims 101 mark amid cautious moves ahead of US non farms
The dollar index shifted back above 101 mark on Tuesday after a slight pull back below the levels in the previous session. Elevated expectation for a Federal interest rate hike is seen lending consistent support to the greenback. Markets are staying cautious around 101 mark surrounding the United States (US) Nonfarm Payrolls (NFP) data for June, which will be released on Thursday. Markets will also look forward to resumption of US-Iran peace talks in Doha that could help ease inflation concerns. The two nations are reportedly scheduled to hold fresh peace talks on Tuesday in Doha, Qatar, following a weekend of renewed hostilities although media reports claim that Iran refutes the talks claim. At the time of writing, the US Dollar Index (DXY), which gauges the Greenbacks value against six major currencies, trades 0.13% higher to near 101.01.
Precious metals under pressure: Check latest gold, silver rates in India and key market factors
MCX gold and silver futures fall as global bullion slides, with US Federal Reserve rate hike expectations and a strong dollar driving sustained bearish pressure.
INR loses momentum in opening trades as geopolitical uncertainty continues to weigh
The Indian rupee lost momentum against the American currency in early trade on Tuesday, as month-end demand for dollars from importers and corporates added pressure on the domestic unit. INR opened at Rs 94.60 per dollar and slipped to a low of 95.55 before recovering back to 94.63 so far during the day. Losses for the rupee were partly cushioned by relatively stable crude oil prices globally. However, concerns about potential supply disruptions in the Gulf and continued uncertainty around the Strait of Hormuz weighed on investor sentiments. Meanwhile, the Indian stock market opened higher this morning, with the BSE Sensex rising around 100 points to hover near the 76,825 mark and the Nifty 50 crossing the 24,030 level, which could lend some support to the local currency.
Japanese yen slides to 40-year low against the US dollar
The Japanese currency is on track to decline 2% in the second quarter, marking its fourth consecutive quarterly loss. This is its longest losing streak since 2022, when it fell for seven straight quarters, according to Reuters.
Asian stocks set for record-breaking quarter; dollar sinks gold and yen
Japan's Nikkei and South Korea's KOSPI remained on track for outsized quarterly gains as easing oil-price concerns improved the global growth outlook, while a stronger dollar pressured gold and yen