Gold touched a new lifetime high on Wednesday, October 8, crossing the $4,000 per ounce mark in global trade for the first time. The rally came on the back of rising uncertainty in world markets and growing bets that the US Federal Reserve could begin cutting interest rates before the end of the year. In…
A number of big decisions were taken at the RBI’s October review, with Governor Sanjay Malhotra announcing a slew of measures to promote the use of the rupee for international trade. “We have been making steady progress in the use of Indian Rupee for international trade,” said the RBI chief. Here’s a summary of the key measures: …
Rupee at all-time low: Rupee weakened further on Tuesday, hitting an all-time intraday low of Rs 88.53 against the US dollar, as global uncertainties and policy shocks rattled investor confidence. The domestic currency opened at Rs 88.41 and quickly ceded ground, following a 12-paise loss on Monday. H-1B visa hike and trade tensions weigh Traders…
Rupee vs Dollar (INR vs USD) Update: The rupee began Wednesday’s trade on a stronger note against the US dollar, opening at 87.82 against its previous close of 88.05. However, the domestic currency was not out of the woods. It was within 65 paise of an all-time low registered against the dollar last week. Add Zee Business…
Rupee plunged by 55 paise to close at 86.07 (provisional) against the US dollar on Friday, as rising geopolitical tensions in the Middle East and a spike in global crude oil prices weighed heavily on investor sentiment. The volatility followed Israel’s reported strikes on Iran’s nuclear sites. Brent crude, the international oil benchmark, surged by…
Rupee appreciated by 6 paise to 85.51 against the US dollar in early trade on Wednesday, supported by strong foreign institutional investor (FII) inflows and a dip in global crude oil prices. According to forex traders, the rupee is expected to trade within a range of 85.40 to 90 during the day, with mid-month demand…