Mumbai, May 5 (IANS) Global crude oil prices declined sharply on Tuesday, falling up to 2 per cent despite a fresh escalation in West Asia, as the conflict entered its third month.The international oil benchmark Brent crude slipped 1.36 per cent to $112.88 per barrel, while US West Texas Intermediate (WTI) fell 2.34 per cent to $103.92 per barrel.On the domestic front, crude oil futures (June 18) on the Multi Commodity Exchange traded lower, down 1.12 per cent or Rs 109 at Rs 9,578.Prices eased …
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New Delhi, April 23 (IANS) The Reserve Bank of India’s partial rollback of recent foreign‑exchange curbs has helped the Rupee strengthen by nearly 2 per cent against the Dollar from record lows of around 95 per USD, a report said on Thursday.”Overall, the decision to ease some of the measures appears to be aimed at striking a balance between supporting genuine hedging needs while curbing arbitrage or speculative activity in the currency market,” the report from DBS Bank said.The RBI partly r…
New Delhi, April 11 (IANS) American billionaire and investor Ray Dalio has said that the worst and most consequential phase of the Iran conflict is still to come, warning that a climactic “final battle” for control of the Strait of Hormuz will determine not just the outcome of the current war but the long-term credibility of American power and the stability of the dollar-led financial order that underpins it.Founder of Bridgewater Associates, Dalio on X shared an article and highlighted all part…
New Delhi, March 4 (IANS) Safe‑haven currencies, from the dollar to the yen and gold, are expected to rally and equity sentiment could worsen due to supply chain disruption amid escalation of the US-Iran war, a report said on Wednesday.The report from DBS Bank said spreads of sovereign and corporate bonds could widen as investors while the monetary policy will stay put in the near term. Taimur Baig, Chief Economist, DBS Bank, warned that despite the Iranian Navy’s warships posing minimal thr…
New Delhi, March 4 (IANS) The Indian rupee breached a new record low on Wednesday, crossing Rs 92 per dollar as oil prices surged amid escalating geopolitical tensions in the Middle East.The domestic currency was trading at Rs 92.38 to the dollar, up 35 paise or 0.38 per cent from the previous session.Brent crude prices spiked to as much as $85 per barrel in recent days as military tensions between the United States, Israel and Iran intensified, the report further said.On Wednesday, WTI crude cl…
Mumbai, Feb 27 (IANS) The Indian equity benchmarks posted huge losses on Friday, amid heavy FII selling and weak global cues.At the closing bell, Sensex lost 961 points, or 1.17 per cent to settle at 81,287. The Nifty lost 317.90 points, or 1.25 per cent, to close at 25,178.Nifty Midcap 100 index performed in line with the benchmark as it dipped 1.10 per cent, while the NSE Smallcap 100 declined 1.10 per cent. Nifty Next50 lost 1.30 per cent.Sectoral indices traded mostly in the red except IT, m…
Mumbai, Feb 13 (IANS) The Indian equity markets ended deep in red on Friday, extending losses for the second consecutive trading session.At the closing bell, Sensex lost 1,048 points, or 1.25 per cent to settle at 82,626. The Nifty shed 336 points, or 1.30 per cent, to close at 25,471.The sharp decline was largely driven by intensifying global concerns over AI-led disruption to India’s outsourcing model.The broader markets performed in line with benchmark indices, as Nifty Midcap 100 index dip…
New Delhi, Jan 22 (IANS) Gold futures on the MCX dipped close to 1 per cent on Thursday from record high in the previous session due to profit booking, amid easing geopolitical tensions and strengthening of dollar.Fears of a US‑EU trade conflict moderated after US President Donald Trump softened his tone on acquisition of Greenland.MCX gold February futures dipped 0.78 per cent to Rs 1,51,665 per 10 grams. Meanwhile MCX silver March futures dipped 0.62 per cent to Rs 3,16,509 per kg.Gold rates…
The Rupee’s recent weakness isn’t a sudden shock—it’s the result of long-term global and domestic forces aligning. This piece explains…