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HONG KONG/LONDON: As investors turn to digital assets in response to the financial sector’s crisis, bitcoin surged to a nine-month high on Monday, building on its greatest week in four years.In line with growing forecasts that central banks will limit the rate of interest rate increases, the largest cryptocurrency increased as far as $28,567, its…
On Monday, the Multi Commodity Exchange (MCX) saw gold prices leap to an intraday record as investors flocked to safe-haven assets in the wake of the US and European banking crises. The price of the precious metal increased to 60,455 per 10 gm (excluding 3% GST) on the MCX, while it reached a 31-month high…
The current week saw a mixed performance from the Indian market, with the upheaval in the world’s banks primarily coming from the US and Europe. On the week of March 13 to March 17, both the Sensex and the Nifty both fell by around 2%. Sensex is trading below 58,000 at the moment, and the…
This week, stress in the U.S. banking system spread to Europe, making things worse for Credit Suisse, which was already in trouble. The European lender has had trouble for a long time. But on Wednesday, the problems with the bank became very clear. After a crazy 24 hours in which the bank’s stock price dropped…
Oil prices were little altered on Friday following a meeting between Saudi Arabia and Russia that helped to calm the markets, but crude benchmarks were still on track to drop for a second consecutive week after this week’s sell-off in the global financial markets was started by a banking crisis.By 0133 GMT, Brent crude prices…
The rupee is anticipated to experience more pressure due to the risk-off attitude on global markets brought on by the Credit Suisse disaster. The domestic currency decreased slightly towards 82. 79 in postmarket transactions after closing at 82. 61 on Wednesday’s interbank foreign exchange market.According to bankers, since issues have been percolating within the banking…
Reliance Industries (RIL) has moved the majority of its oil traders from Mumbai to Dubai, carrying out a plan that was first announced in 2021 but that is now timely given the rise of Dubai as a major commodities hub following Russia’s war. According to insiders, the refiner currently purchases and trades most of its…
November 22, 2024 New Delhi, India USDINR Today The Indian Rupee (INR) traded flat on Friday after touching an all-time low of 84.50 against the US Dollar (USD) in the previous session. The HSBC India Manufacturing PMI eased slightly to 57.3 in November, while the Services PMI improved to 59.2. Factors Influencing INR Performance Geopolitical Tensions: Escalating conflict between Russia and Ukraine has…
November 14, 2024 New Delhi, India USDINR Analysis Rupee (INR) is trading near its all-time low on Thursday despite an uptick in Wholesale Price Index (WPI) inflation. According to official data, India’s WPI-based inflation rose to 2.36% year-on-year (YoY) in October, up from 1.84% in the previous month, surpassing the market consensus of 2.20%. Factors…
November 12, 2024 New Delhi, India USDINR Today Rupee (INR) struggled to stabilize on Tuesday, hovering close to its all-time low of 84.38. The local currency faces ongoing pressure due to significant foreign fund outflows and increasing demand for the US Dollar (USD), particularly from oil companies and foreign banks. Key Factors Influencing INR: Foreign…
