October 16, 2024 New Delhi, India USD/INR The USD/INR pair continues to hover around its all-time high of 84.14 as the Indian Rupee (INR) faces pressure from foreign exchange outflows. Traders are also evaluating the Reserve Bank of India’s (RBI) policy outlook, particularly in response to India’s latest Consumer Price Index (CPI) data. Key Factors:…
October 14, 2024 New Delhi, India USDINR Today The Indian rupee depreciated to a lifetime low of 84.0725 against the US dollar on Monday, slightly surpassing its previous low of 84.07 set on Friday. The rupee’s weakness follows broader depreciation across Asian currencies and is exacerbated by elevated crude oil prices and a strong US…
October 11, 2024 New Delhi, India Crude Oil Price Crude Oil prices stabilized near $75 on Friday after a volatile week. The recovery from lower levels came as Israel signaled its readiness to retaliate against Iran, intensifying geopolitical tensions. This follows a phone call between US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu…
September 26, 2024 New Delhi, India USDINR Price Rupee (INR) weakened during Thursday’s Asian session, losing momentum against the US Dollar (USD). Local sales of the USD by corporations and foreign inflows into Indian stocks and bonds initially supported the INR, along with a stronger Chinese Yuan. However, rising crude oil prices and a risk-averse…
September 5, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) weakened during Thursday’s early European session, pressured by a sell-off in Indian equities tracking negative global cues. Despite a weaker US Dollar (USD), the INR is edging closer to all-time lows. Key Highlights: Equity Sell-Off Pressures INR: A significant sell-off in domestic equities,…
August 27, 2024 New Delhi, India USDINR Analysis The Indian Rupee (INR) traded on a weaker note during Tuesday’s early European session. The local currency faced pressure from month-end demand for the US Dollar (USD) by local banks and corporations, as well as a surge in crude oil prices, which typically weigh on the INR….
August 8, 2024 New Delhi, India WTI Price West Texas Intermediate (WTI) Oil has retraced its recent gains from the previous session, trading around $74.00 during the early European hours on Thursday. Despite the dip, crude oil prices might regain support from rising concerns about supply constraints due to ongoing geopolitical tensions in the Middle…
July 13, 2024 New Delhi, India India’s consumer price inflation (CPI) in June 2024 rose to 5.08%, reversing the declining trend of previous months. This increase was driven by a significant surge in food prices, especially vegetables and pulses, amidst an uncertain economic environment. This article delves into the factors influencing the inflation rate and…
June 14, 2024 New Delhi, India Daily Currency Market Update USDINR Trading Range: 83.51-83.67 The Indian Rupee closed flat, showing resilience despite the increased dollar demand from local oil companies and other importers. The Federal Reserve kept the funds rate unchanged, but its dot-plot projections indicated only a single 25 basis points rate cut this…
February 16, 2023 New Delhi, India India Adjusts Oil Taxes In response to the fluctuating global oil market, India’s Ministry of Finance has announced adjustments to oil taxes. Here’s a breakdown of the key changes: Marginally Raised Windfall Tax The windfall tax on the sale of domestic crude oil has been marginally increased to ₹3,300…
