October 18, 2024 New Delhi, India Gold Prices Today Gold (XAU/USD) extended its rally on Friday, breaking past the $2,700 mark to reach a fresh record high during the Asian session. The surge is largely driven by expectations of interest rate cuts by major central banks, which boost demand for the non-yielding metal. Additionally, heightened…
August 30, 2024 New Delhi, India Moody: India’s GDP Growth Forecast Moody’s Ratings has revised its forecast for India’s GDP growth for 2024 to 7.2%, up from the earlier projection of 6.8%. This upward revision is attributed to stronger private consumption that is boosting aggregate demand in the economy. According to Moody’s, household consumption is…
August 22, 2024 New Delhi, India Currency Market Analysis USDINR The Rupee strengthened, aided by potential inflows and a decline in the dollar index, which also boosted other Asian currencies. However, the Reserve Bank of India’s foreign exchange reserves dropped by $4.8 billion, bringing the total to $670.12 billion. Additionally, India’s trade deficit widened to…
August 21, 2024 New Delhi, India Currency Market Analysis USDINR The Rupee ended stronger, driven by likely inflows and a sharp decline in the dollar index, which benefited Asian currencies across the board. The Reserve Bank of India’s foreign exchange reserves fell by $4.8 billion to $670.12 billion. Additionally, India’s trade deficit widened significantly to…
August 20, 2024 New Delhi, India Daily Market Analysis USDINR The Rupee remained within a narrow range as its Asian peers reversed early losses, supported by mild dollar sales from foreign banks. India’s economic growth exceeded expectations, as noted by the IMF’s Gita Gopinath, while dollar-rupee forward premiums fell with the 1-year implied yield down…
August 8, 2024 New Delhi, India RBI Monetary Policy In its latest monetary policy announcement, the Reserve Bank of India (RBI) has kept its inflation projection for FY2025 unchanged at 4.5%. RBI Governor Shaktikanta Das provided insights into the factors influencing this forecast and the broader economic conditions. The Indian rupee showed a slight recovery…
June 7, 2024 New Delhi, India Key Highlights from RBI MPC Meeting June 2024 The Reserve Bank of India (RBI) concluded its first Monetary Policy Committee (MPC) meeting since the Lok Sabha Elections 2024, announcing several significant decisions. The repo rate remains unchanged at 6.50%, marking the eighth consecutive term without a change, as the…
May 29, 2024 New Delhi, India IRCTC Q4 Results and Market Reaction IRCTC’s share price fell over 5% in morning trades after the company announced its Q4 results post-market hours on Tuesday. The share price dropped to ₹1,027.15 on the NSE, down from the previous close of ₹1,083.10. The decline was driven by the reported…
April 2, 2023 New Delhi, India USDINR The last traded price of USDINR was 83.3775 down by -0.02%. USDINR pair saw a trading range of 83.32-83.52, with the Rupee depreciating due to aggressive dollar bids from local oil companies, importers, and equity-related outflows. Meanwhile, personal spending in the US experienced a significant increase of 0.8%…
March 22, 2023 New Delhi, India BSE Shares Surged By 8% In a significant development, the share price of the Bombay Stock Exchange (BSE) witnessed a remarkable surge of nearly 8% today following a rating upgrade from brokerage firm Investec. Here are the key highlights from this event: Rating Upgrade and Target Price: Investec upgraded…
