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With Indian rupee near record low, central bank steps up NDF intervention The Reserve Bank of India has been frequently intervening in the non-deliverable forward (NDF) market to make sure that the rupee does not drop to a record low, four bankers told Reuters on Thursday. The rupee was at 83.1525 to the U.S. dollar as of 11:16 a.m. IST, not too far from its record low of 83.29 hit in October 2022. The currency has largely avoided the decline in its Asian peers. "The RBI intervened on NDF in the morning (before local over-the-counter, OTC, markets opened...
With Indian rupee near record low, central bank steps up NDF intervention
With Indian rupee near record low, central bank steps up NDF intervention
Source: Reuters
7/09/2023 2:46:16 PM
Dollar steady as traders bet Fed done with rates The dollar started Monday on a steady footing as investors assessed U.S. jobs data that showed some signs of cooling and bolstered expectations that the Federal Reserve was likely at the end of its monetary tightening cycle. Data on Friday showed U.S. job growth picked up in August, but the unemployment rate jumped to 3.8%, while wage gains moderated. The economy created 110,000 fewer jobs than previously reported in June and July. "The Goldilocks metaphor is much used and abused i...
Dollar steady as traders bet Fed done with rates
Dollar steady as traders bet Fed done with rates
Source: Reuters
4/09/2023 9:06:22 AM
Asia shares extend rally as China mood turns less bleak Asian shares pushed higher on Monday as markets wagered the Federal Reserve was done raising U.S. interest rates, and on hopes the drip feed of policy stimulus from Beijing would be enough to stabilise the Chinese economy. A holiday in the United States made for thin trading ahead of key readings on U.S. services and Chinese trade and inflation later in the week. More policy action is also expected from Beijing, including relaxing restrictions on home buying. There was relief that em...
Asia shares extend rally as China mood turns less bleak
Asia shares extend rally as China mood turns less bleak
Source: Reuters
4/09/2023 8:53:51 AM
Rupee to receive boost from yuan rally, growth data The Indian rupee is set to rise at open on Friday on the back of a rally in the Chinese yuan following steps by the country's central bank and on robust domestic June-quarter growth. Non-deliverable forwards indicate the rupee will open at around 82.60-82.62 to the U.S. dollar compared with 82.7850 in the previous session. The rupee in each session this week has opened higher but has been unable to sustain it. A similar outcome is expected on Friday. The rupee is likely to weaken...
Rupee to receive boost from yuan rally, growth data
Rupee to receive boost from yuan rally, growth data
Source: IANS
1/09/2023 9:05:23 AM
Dollar licks wounds after jobs shock; Aussie dips as inflation cools The dollar nursed its sharpest drop in a month and a half on Wednesday, as investors bet that softer-than-expected U.S. jobs data reduced the chances of further Federal Reserve rate hikes. The Japanese yen hovered around 146 per dollar following its overnight rebound from a 10-month trough at 147.375, as a drop in Treasury yields took away support for the U.S. currency. The Australian dollar dropped from near a two-week peak after inflation there cooled by more than economists predicted...
Dollar licks wounds after jobs shock; Aussie dips as inflation cools
Dollar licks wounds after jobs shock; Aussie dips as inflation cools
Source: Reuters
30/08/2023 8:59:51 AM
Gold flat after Jerome Powell hawkish speech; focus on economic data Gold prices were flat on Monday as Federal Reserve Chair Jerome Powell's hawkish commentary doused expectations that the U.S. rate-hiking cycle was nearing an end, with investors awaiting economic data this week for confirmation on rate trajectory. FUNDAMENTALS * Spot gold was little changed at $1,915.79 per ounce by 0105 GMT, U.S. gold futures gained 0.2% to $1,943.60 as investors awaited key economic data including the U.S. non-farm payroll report on Friday. * Any thoughts that...
Gold flat after Jerome Powell hawkish speech; focus on economic data
Gold flat after Jerome Powell hawkish speech; focus on economic data
Source: Reuters
28/08/2023 9:01:46 AM
Taming rising prices a priority for India, finance minister says India's finance minister on Friday said taming inflation was a priority, and that hiking interest rates was not the only tool available. "Obsession to use interest rates as the only tool to deal with inflation and not manage the supply side factors will not give a complete solution," Nirmala Sitharaman said. Annual retail inflation in July rose to its highest in 15 months as vegetable and cereals prices skyrocketed, beating all market expectations and putting pressure on t...
Taming rising prices a priority for India, finance minister says
Taming rising prices a priority for India, finance minister says
Source: Reuters
25/08/2023 4:41:43 PM
Vegetable prices in India to decline from September, says Central Bank chief Vegetable prices in India have begun to soften and are likely to decline from September, Reserve Bank of India (RBI) Governor Shaktikanta Das said in a speech on Wednesday. Spiralling prices of vegetables and cereals have led retail inflation in July to surge 7.44%, its highest in 15 months. "We expect to see an appreciable slowdown in vegetable inflation from September," Das said. The outlook for cereal prices looks bright even though geopolitical tensions could hamper foo...
Vegetable prices in India to decline from September, says Central Bank chief
Vegetable prices in India to decline from September, says Central Bank chief
Source: Reuters
24/08/2023 9:57:33 AM
India says inflation pressures warrant government , central bank vigilance Inflationary pressures in India caused by global uncertainty and domestic disruptions will require greater vigilance by the government and the central bank, the finance ministry said in its monthly economic report on Tuesday.
India says inflation pressures warrant government , central bank vigilance
India says inflation pressures warrant government , central bank vigilance
Source: Reuters
22/08/2023 11:21:14 AM
Exclusive-India central bank nudges banks to settle UAE trades in rupee, dirham India's central bank is nudging local banks to ask their clients to settle trade between the United Arab Emirates and India using the dirham (AED) or Indian rupee (INR) to reduce U.S.-dollar-based transactions, five sources told Reuters. The move is part of the Reserve Bank of India's broader aim of promoting settlement in local currencies with countries with which India has a trade deficit, with the knock-on effect of boosting the rupee's global reach, three banking sources sa...
Exclusive-India central bank nudges banks to settle UAE trades in rupee, dirham
Exclusive-India central bank nudges banks to settle UAE trades in rupee, dirham
Source: Reuters
21/08/2023 4:39:49 PM
India central bank likely sold dollars via state-run banks -traders The Indian central bank is likely selling dollars via state-run banks to prevent the rupee from slipping to a record low, three traders told Reuters on Monday. The rupee was at 83.0850 to the dollar, marginally higher than its close of 83.1025 on Friday. The Reserve Bank of India (RBI) likely sold dollars on the interbank order matching system before the normal OTC open time, traders said. A treasury head at a foreign bank said the RBI probably was active in the non-deliverable forwa...
India central bank likely sold dollars via state-run banks -traders
India central bank likely sold dollars via state-run banks -traders
Source: Reuters
21/08/2023 9:59:47 AM
Markets see more than 90% chance of US Fed pausing rate hike next month US Federal Reserve officials meet next month to determine whether to raise interest rates for the 12th time to cool the economy or hold them steady. Some officials think the Fed has already raised its benchmark lending rate enough to curb inflation, but others think it’s too soon to tap the brakes, CNN reported. It’s clear the central bank has become divided. But right now, financial markets see more than a 90 per cent chance the central bank will agree to pause rate hikes n...
Markets see more than 90% chance of US Fed pausing rate hike next month
Markets see more than 90% chance of US Fed pausing rate hike next month
Source: IANS
14/08/2023 9:16:34 AM
India central bank to withdraw 1 trln rupees via incremental CRR The Reserve Bank of India (RBI) will withdraw nearly one trillion rupees ($12.07 billion) from the banking system through a temporary increase in the amount of funds lenders set aside with the central bank, as it tries to keep a lid on inflation. Earlier in the day, India's Monetary Policy Committee kept key policy rates unchanged but RBI Governor Shaktikanta Das asked banks to hold an incremental cash reserve ratio (CRR) of 10% on increase in deposits between May 19 and July 28, with ...
India central bank to withdraw 1 trln rupees via incremental CRR
India central bank to withdraw 1 trln rupees via incremental CRR
Source: Reuters
10/08/2023 3:47:58 PM
India`s RBI holds rates steady but eyes food price spike; signals tighter policy The Reserve Bank of India held its key lending rate steady on Thursday as expected but moved to reduce the amount of cash in banking system as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has three members from the central bank and three external members, kept the repo rate unchanged at 6.50% in an unanimous decision. It was the third consecutive time that the committee decided to mainta...
India`s RBI holds rates steady but eyes food price spike; signals tighter policy
India`s RBI holds rates steady but eyes food price spike; signals tighter policy
Source: Reuters
10/08/2023 2:22:14 PM
Indian cenbank seeks greater transparency in interest rates of floating rate retail loans The Reserve Bank of India (RBI) on Thursday said it will put in place a framework to ensure greater transparency in resetting interest rates and tenors on floating rate loans, like housing credit. As policy interest rates rise, lenders pass on the burden to customers by either raising their monthly payments or increasing the tenor of their loan. The central bank said it found "several" instances of "unreasonable elongation of tenor" of floating rate loans by lenders ...
Indian cenbank seeks greater transparency in interest rates of floating rate retail loans
Indian cenbank seeks greater transparency in interest rates of floating rate retail loans
Source: Reuters
10/08/2023 11:41:54 AM
Instant view: India's central bank holds key rate steady as expected The Reserve Bank of India's key lending rate was held steady for a third straight policy meeting on Thursday, as widely expected, as inflation concerns resurfaced following higher-than-usual seasonal spikes in food prices in recent weeks. The monetary policy committee (MPC), which has three members from the central bank and three external members, kept the repo rate unchanged at 6.50% in an unanimous decision. It was the third consecutive time that the committee decided to maintain rat...
Instant view: India's central bank holds key rate steady as expected
Instant view: India's central bank holds key rate steady as expected
Source: Reuters
10/08/2023 11:13:57 AM
India central bank may tighten cash conditions, but CRR hike unlikely -traders The Reserve Bank of India may look to tighten domestic rupee liquidity to quell inflationary pressures but will refrain from permanent cash withdrawal, several traders and analysts said ahead of Thursday's monetary policy review. The central bank is expected to hold policy rates steady but could turn more hawkish given that inflation in July is likely to have risen above its comfort band. Reducing surplus liquidity, which could fuel inflation, could be one way of signalling a toughe...
India central bank may tighten cash conditions, but CRR hike unlikely -traders
India central bank may tighten cash conditions, but CRR hike unlikely -traders
Source: Reuters
9/08/2023 3:22:27 PM
India rate panel to dial up hawkishness even as it holds policy steady India's monetary policy committee (MPC) is expected to maintain key rates when it meets on Thursday, but will adopt a far more hawkish tone as the recent rise in food prices risks becoming entrenched, economists and market participants said. A July 13-31 Reuters poll of 75 economists showed the central bank was expected to keep its repo rate unchanged at 6.50% at its Aug. 10 policy meeting. Food price spikes in India, typical at the onset of the monsoon, drove up headline inflation ...
India rate panel to dial up hawkishness even as it holds policy steady
India rate panel to dial up hawkishness even as it holds policy steady
Source: Reuters
8/08/2023 9:21:14 AM
Indian banks` loans rose 20.2% y/y in two weeks to July 14 - central bank Indian banks' loans rose 20.2% in the two weeks to July 14 from a year earlier, while deposits rose 13.2%, the Reserve Bank of India's weekly statistical supplement showed on Friday. Outstanding loans rose 3.73 trillion rupees ($45.33 billion) to 147.64 trillion rupees in the two weeks to July 14. Non-food credit rose 3.76 trillion rupees to 147.40 trillion rupees, while food credit fell 36.03 billion rupees to 243.04 billion rupees. Bank deposits fell 1.25 trillion rupees to...
Indian banks` loans rose 20.2% y/y in two weeks to July 14 - central bank
Indian banks` loans rose 20.2% y/y in two weeks to July 14 - central bank
Source: Reuters
29/07/2023 9:29:51 AM
US economy grew stronger than expected in second quarter The US economy picked up steam in the second quarter despite punishing rate hikes and still-high inflation, the media reported.  Gross domestic product, the broadest measure of economic output, grew by an annualized, seasonally adjusted 2.4 rate in the April-through-June period, the Commerce Department reported on Thursday. That was a faster pace than in the first three months of the year and was also above economists' expectations for a 1.8 per cent rate, according to Refiniti...
US economy grew stronger than expected in second quarter
US economy grew stronger than expected in second quarter
Source: IANS
28/07/2023 11:18:19 AM
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee Reserve Bank of India (RBI) has permitted 20 banks operating in the country to open 92 Special Rupee Vostro Accounts (SRVAs) of partner banks from 22 countries including Bangladesh, Belarus, Botswana, Fiji, Germany, Guyana and Israel, as part of efforts to promote bilateral trade in local currencies. Other countries are Kazakhstan, Kenya, Malaysia, Maldives, Mauritius, Myanmar, New Zealand, Oman, Russia, Seychelles, Singapore, Sri Lanka, Tanzania, Uganda, and United Kingdom. Minister of St...
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee
RBI permits banks to open Vostro Accounts from 22 countries to promote bilateral trade in rupee
Source: Accord Fintech
27/07/2023 12:18:18 PM
Dollar firms, yen steady after Japan inflation holds above BOJ target The dollar was steady on Friday as data pointed to U.S. labour market resilience that could lead the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after Japan's core consumer inflation re-accelerated in June. Central bank meetings from Europe, Japan and the United State are due next week, with investors parsing through data to better gauge monetary policy paths they will likely chart. The Japanese yen strengthened 0.08% to 139.97 per dollar aft...
Dollar firms, yen steady after Japan inflation holds above BOJ target
Dollar firms, yen steady after Japan inflation holds above BOJ target
Source: Reuters
21/07/2023 8:57:12 AM
Asian shares fall after US tech falters, dollar and yields hold gains Asian shares fell on Friday after Tesla and Netflix weighed on U.S. tech shares after their earnings reports, while the dollar and Treasury yields held their gains ahead of an action-packed week that could see the end of the U.S. tightening cycle. As well as the U.S. Federal Reserve meeting next week, the Bank of Japan will meet amid speculation of imminent policy tweaks. Early on Friday, Japan's inflation stayed above the central bank's target of 2% for the 15th straight month in ...
Asian shares fall after US tech falters, dollar and yields hold gains
Asian shares fall after US tech falters, dollar and yields hold gains
Source: Reuters
21/07/2023 8:36:25 AM
Asia stocks gain; US futures slip after Netflix, Tesla earnings Asian stocks rose and sterling stumbled on Thursday as cooling UK inflation lifted risk appetite ahead of central bank meetings next week, while disappointing earnings results from Netflix and Tesla pushed U.S. futures lower. Meanwhile, China's yuan shot up after authorities tweaked cross-border financing rules and major state-owned banks were seen selling dollars in moves analysts said were designed to shore up the currency. MSCI's broadest index of Asia-Pacific shares outside ...
Asia stocks gain; US futures slip after Netflix, Tesla earnings
Asia stocks gain; US futures slip after Netflix, Tesla earnings
Source: Reuters
20/07/2023 8:50:22 AM
Dollar tentative, kiwi jumps as NZ inflation data tempers rate doves The dollar held just above an over one-year low on Wednesday as traders assessed the U.S. rate outlook, while the New Zealand dollar spiked briefly after a higher-than-expected inflation reading pushed back prospects of policy easing further out. The U.S. dollar managed to nudge up after a mixed retail sales report overnight, with sales growth missing forecasts in June but consumers boosted or maintained spending elsewhere, pointing to consumer resilience that is likely to keep the economy...
Dollar tentative, kiwi jumps as NZ inflation data tempers rate doves
Dollar tentative, kiwi jumps as NZ inflation data tempers rate doves
Source: Reuters
19/07/2023 8:58:25 AM
Rupee to track yuan`s slide at open, eyes 82.20/USD The Indian rupee is expected to decline on Wednesday, pressured by the yuan's fall on worries over China's growth outlook. Non-deliverable forwards indicate the rupee will open at 82.08-82.12 to the U.S. dollar, compared with 82.03 on Tuesday. With the yuan "back to losing ways", the rupee will struggle at the open, a forex trader said. "Anyway, (USD/INR) was not managing to slip below 82 and now we have an excuse to take it to the 82.20-82.30 resistance."...
Rupee to track yuan`s slide at open, eyes 82.20/USD
Rupee to track yuan`s slide at open, eyes 82.20/USD
Source: Reuters
19/07/2023 8:50:11 AM
India`s Reliance spin-off Jio Financial Services worth 160-190 rupees/share -analysts The financial services business of India's Reliance Industries will be valued at 160-190 rupees per share, according to estimates by five analysts, with the impending demerger boosting the stock price of the country's most valuable company. Reliance Strategic Investments Ltd - to be renamed Jio Financial Services (JFS) Ltd - will be demerged on July 20, with Reliance shareholders getting one JFS share in addition to each Reliance share they hold. Axis Securities, on Monday, reco...
India`s Reliance spin-off Jio Financial Services worth 160-190 rupees/share -analysts
India`s Reliance spin-off Jio Financial Services worth 160-190 rupees/share -analysts
Source: Reuters
18/07/2023 10:59:14 AM
India cenbank buys $7.37 billion in spot forex market in May bulletin The Reserve Bank of India (RBI) bought $7.37 billion in the spot foreign exchange market in May, showed data released on Monday as part of the central bank's monthly bulletin.    The RBI did not sell any dollars in the reported month, the data showed. In April, the central bank had bought a net of $7.70 billion in the spot market.    The Indian rupee depreciated by over 1% against the dollar in May. The unit traded in a range of 81.65 to 82.85.   &n...
India cenbank buys $7.37 billion in spot forex market in May bulletin
India cenbank buys $7.37 billion in spot forex market in May bulletin
Source: Reuters
17/07/2023 7:35:43 PM
Dollar licks wounds as policy peak looms A bruised dollar took respite on Monday after suffering its worst weekly drop of the year, as traders waited on economic data and policy decisions before selling it down any further. The euro, which jumped 2.4% last week to a 16-month high, held just below that peak at $1.1223. The yen, also up 2.4% last week, held at 138.56 per dollar. Chinese growth data landed a little above low expectations on Monday, but without sparking much currency market response as traders had already priced i...
Dollar licks wounds as policy peak looms
Dollar licks wounds as policy peak looms
Source: Reuters
17/07/2023 9:05:40 AM
Gold edges lower on slight dollar uptick Gold prices edged lower on Monday as the dollar inched up, although investors largely bet on the U.S. Federal Reserve hitting the brakes soon on interest rate hikes. Spot gold fell 0.1% to $1,952.74 per ounce by 0307 GMT, around $11 lower from the three-month high hit on Friday. U.S. gold futures were down 0.4% to $1,957.60. The dollar hovered above its April 2022 lows, making gold more expensive for holders of other currencies. [USD/] "Gold's post-CPI rally has paused fo...
Gold edges lower on slight dollar uptick
Gold edges lower on slight dollar uptick
Source: Reuters
17/07/2023 8:53:43 AM
India central bank to give banks guidance to resolve rupee trade issues India's central bank will release guidance for banks in two to three days to resolve some teething issues on the rupee trade mechanism, a senior trade official told reporters. The issue with rupee trade is that it can only work as a barter currency, the official said. Due to defence trade, Russia has accumulated a lot of rupee reserves, he added. In May, Russia’s Foreign Minister Sergei Lavrov said talks were underway with India to exchange billions of rupe...
India central bank to give banks guidance to resolve rupee trade issues
India central bank to give banks guidance to resolve rupee trade issues
Source: Reuters
14/07/2023 4:23:18 PM
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank Eighteen of India's 20 largest banks saw increases in market capitalization in the second quarter, boosted by a stock rally amid the banking sector's strong recovery, according to S&P Global Market Intelligence data and analysis. Nine banks reported double-digit percentage gains in market capitalization, led by IDFC First Bank Ltd. with a 44.53% climb to $6.41 billion. The lender rose to No. 11 from No. 14 in the ranking. IDBI Bank Ltd. climbed three spots to No. 8 after a 2...
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Source: IANS
13/07/2023 4:40:40 PM
HDFC Bank signs up over 100,000 customers in digital rupee pilots India's largest private lender HDFC Bank on Thursday said it has signed up over 100,000 customers and 170,000 merchants in pilot programmes using the central bank digital currency (CBDC). The lender also linked the CBDC, termed e-rupee, and United Payments Interface (UPI) for merchants and customers, which would enable payments through both CBDC and UPI using a single Quick Response (QR) code, HDFC Bank said in a statement. The Reserve Bank of India (RBI) has devised the e-rupee as ...
HDFC Bank signs up over 100,000 customers in digital rupee pilots
HDFC Bank signs up over 100,000 customers in digital rupee pilots
Source: Reuters
13/07/2023 2:39:32 PM
Gold rises on softer dollar, yields ahead of US inflation data Gold prices rose on Wednesday after the dollar and bond yields retreated as investors awaited U.S. inflation data that could offer more cues on the Federal Reserve's rate-hike policy path. Spot gold rose 0.4% to $1,940.53 per ounce by 0231 GMT, its highest since June 20. U.S. gold futures were up 0.5% at $1,946.00. Making gold cheaper for holders of other currencies, the dollar index fell 0.2% to its lowest level since May 11. Benchmark 10-year U.S. Treasury yields also slipped t...
Gold rises on softer dollar, yields ahead of US inflation data
Gold rises on softer dollar, yields ahead of US inflation data
Source: Reuters
12/07/2023 9:23:21 AM
Rupee bias on upside on broad dollar selling before US inflation data The Indian rupee may rise more on Wednesday, aided by the U.S. dollar's broad decline in the lead-up to the crucial U.S. inflation data. Non-deliverable forwards indicate rupee will open at around 82.32-82.34 to the U.S. dollar compared with 82.3650 on Tuesday. Market participants should expect rupee to do better at the opening than what offshore is indicating, a foreign exchange trader said. The "across the board" weakness on the dollar means that the "bias is defini...
Rupee bias on upside on broad dollar selling before US inflation data
Rupee bias on upside on broad dollar selling before US inflation data
Source: Reuters
12/07/2023 9:09:21 AM
Sri Lanka's foreign reserves increase to $3.5 bn Sri Lanka's gross official reserves is estimated at around $3.5 billion by the end of June 2023 as the country is trying to overcome its worst economic crisis, a statement from its central bank said on Thursday.
Sri Lanka's foreign reserves increase to $3.5 bn
Sri Lanka's foreign reserves increase to $3.5 bn
Source: IANS
7/07/2023 10:44:06 AM
India`s central bank working group proposes steps to broaden rupee's global reach The increasing use of the Indian rupee in invoicing and settlement of international trade, as well as in capital account transactions, will give the local currency international acceptance, a working group of the Reserve Bank of India said. An international currency is one that is freely available to non-residents, essentially to settle cross-border transactions, and in the case of the rupee, this will be achieved by promoting the currency for import and export, without any limits. &quo...
India`s central bank working group proposes steps to broaden rupee's global reach
India`s central bank working group proposes steps to broaden rupee's global reach
Source: Reuters
5/07/2023 5:06:55 PM
Higher retail inflation has hit personal consumption expenditure: RBI bulletin The Reserve Bank of India (RBI) has said that higher retail inflation has impacted personal consumption expenditure. In its monthly bulletin for June 2023, released on Friday, it observed on the basis of national accounts data and corporate results, that rising retail inflation has slowed down personal consumption expenditure, which has resulted in scaling down of corporate sales and reduction in private investment towards capacity creation. Bringing down inflation and stabilising infla...
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
Higher retail inflation has hit personal consumption expenditure: RBI bulletin
Source: IANS
24/06/2023 9:51:19 AM
Rupee may decline slightly on weak risk, dollar uptick The Indian rupee is expected to fall on Tuesday in wake of losses on Asian peers and poor risk appetite. Non-deliverable forwards indicate rupee will open at around 81.98 to the U.S. dollar compared with 81.9350 in the previous session. The rupee on Monday witnessed a quiet session, hovering in a 81.90-82.00 range. "It is to be expected that there will be support (for USD/INR) at below 82," an FX trader at a private sector bank said. "Today, it looks like a another ...
Rupee may decline slightly on weak risk, dollar uptick
Rupee may decline slightly on weak risk, dollar uptick
Source: Reuters
20/06/2023 8:42:23 AM
Indian rupee to extend gains, bond yield seen edging highe The Indian rupee will likely extend its gains this week due to persistent dollar inflows, although demand from importers could cap the rise, while government bond yields could edge higher after the hawkish comments from major global central banks. The rupee gained 0.6% to end at 81.93 last week. The local unit hit 81.8825, its highest since May 11, on Friday on broad weakness in the dollar index as well as likely corporate dollar inflows. The dollar index, conversely, hit a five-week lo...
Indian rupee to extend gains, bond yield seen edging highe
Indian rupee to extend gains, bond yield seen edging highe
Source: Reuters
19/06/2023 9:02:26 AM
Asian shares near four-month peak as BOJ takes the stage Asian shares rose to a near four-month high on Friday as resilient U.S. economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign, with investor focus switching to the Bank of Japan's policy meeting. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.31% higher and on course for 2.5% gain in the week, its best weekly performance since January. The index rose as high as 534.16, its highest since mid-February. Japan's Ni...
Asian shares near four-month peak as BOJ takes the stage
Asian shares near four-month peak as BOJ takes the stage
Source: Reuters
16/06/2023 8:45:35 AM
Dollar rallies in Asia after Fed signals rate hikes; yen, kiwi slide The U.S. dollar rallied in Asian trading on Thursday after the Federal Reserve signalled rate hikes later in the year, while China's and New Zealand's currencies fell on signs of weakness in those economies. The market's attention is now turning to other central bank decisions late this week, with the yen sliding to its weakest this year as the Bank of Japan begins its two-day policy meeting. The dollar index rose 0.26% to 103.3, recovering from a four-week low of 102.66 on ...
Dollar rallies in Asia after Fed signals rate hikes; yen, kiwi slide
Dollar rallies in Asia after Fed signals rate hikes; yen, kiwi slide
Source: Reuters
15/06/2023 8:47:40 AM
Stocks stall as US rates seen higher for longer  Asian stocks braked around two-month highs on Thursday, while the dollar nursed modest losses, after the U.S. Federal Reserve chose not to hike interest rates for the first time in 17 months, even if it opened the door to more hikes ahead. The Fed left its benchmark funds rate window at 5-5.25%, and chair Jerome Powell said the U.S. central bank needed to gather more information about the economy to determine what to do next. Committee members surprised markets by projecting two m...
Stocks stall as US rates seen higher for longer
Stocks stall as US rates seen higher for longer
Source: Reuters
15/06/2023 8:41:27 AM
Gold holds steady as US inflation data, Fed verdict loom Gold was steady on Tuesday, although prices moved in a tight range as traders awaited U.S. inflation data due later in the day and the Federal Reserve's policy decision amid expectations of a pause in the central bank's rate hike trajectory. Spot gold held its ground at $1,956.30 per ounce by 0215 GMT. U.S. gold futures held steady at $1,970.80. "The market is waiting for the U.S. CPI and FOMC meeting to provide a clearer direction on gold price. (However) there is a lack o...
Gold holds steady as US inflation data, Fed verdict loom
Gold holds steady as US inflation data, Fed verdict loom
Source: Reuters
13/06/2023 9:09:44 AM
India central bank holds rates as expected The Indian central bank's key lending rate was held steady at a second straight policy meeting on Thursday, as widely anticipated, as it looks to study the impact of its past hikes on inflation. The monetary policy committee (MPC), which has three members from the Reserve Bank of India and three external members, kept the repo rate steady at 6.50% in a unanimous decision. All 64 economists in a Reuters poll taken between May 16 and 29 expected no change in rates. The RBI's po...
India central bank holds rates as expected
India central bank holds rates as expected
Source: Reuters
8/06/2023 10:22:49 AM
India`s currency in circulation falls further post RBI currency withdrawal move  India's currency in circulation dropped for a second consecutive week after the central bank withdrew the country's highest value currency note in May, advising people to deposit those with various banks and hoping to help lender deposits in the process. Currency in circulation was down by 272.8 billion rupees ($3.30 billion) for week ended June 2, data from the Reserve Bank of India (RBI) on late Wednesday showed. It was down by 364.9 billion rupees in the week ended May 26....
India`s currency in circulation falls further post RBI currency withdrawal move
India`s currency in circulation falls further post RBI currency withdrawal move
Source: Reuters
8/06/2023 9:02:59 AM
Gold climbs on softer dollar as traders weigh Fed verdict Gold prices edged higher on Thursday, supported by a softer dollar, although bullion hovered near the previous session's lows as investors awaited cues from the U.S. Federal Reserve after the Bank of Canada hiked its rates to a 22-year high. Spot gold rose 0.4% to $1,946.47 per ounce by 0307 GMT, after shedding 1% in the previous session. U.S. gold futures edged 0.1% higher to $1,961.00. Gold has support from expectations of Fed holding rates next week with prices stuck in the $1,93...
Gold climbs on softer dollar as traders weigh Fed verdict
Gold climbs on softer dollar as traders weigh Fed verdict
Source: Reuters
8/06/2023 8:58:25 AM
Rupee to open higher tracking Asia FX, upside broadly capped The Indian rupee is expected to open higher on Wednesday, helped by an uptick in Asian peers, but is unlikely to build much on its initial advance, traders said. Non-deliverable forwards indicate rupee will open at around 82.52-82.54 to the U.S. dollar, compared with 82.6050 in the previous session. The USD/INR pair seems to have made a new range with support at 82.50 and 82.30 and resistance at 82.80 and 83.00, a spot trader said. Based on Tuesday's session and the overall lack ...
Rupee to open higher tracking Asia FX, upside broadly capped
Rupee to open higher tracking Asia FX, upside broadly capped
Source: Reuters
7/06/2023 9:12:26 AM