Mumbai, July 24 (IANS) Gold and silver prices traded lower on Friday, with both precious metals falling by up to nearly 1 per cent as stronger US dollar and escalating geopolitical tensions in the Middle East weighed on investor sentiment.On the Multi Commodity Exchange (MCX), gold futures for August delivery opened at Rs 1,42,392 per 10 grams, down 0.30 per cent from the previous close of Rs 1,42,821 per 10 grams.At around 12 pm, the yellow metal fell as much as Rs 1,079 or 0.75 per cent to an …
Latest US Dollar News & Updates
Mumbai, July 17 (IANS) India’s foreign exchange reserves increased by $964 million to $675.16 billion for the week ended July 10, according to data released by the Reserve Bank of India (RBI) on Friday.The latest increase follows a sharp rise of $7.26 billion in the previous reporting week, when the country’s forex reserves had climbed to $674.19 billion after reversing the decline recorded earlier.According to the RBI, foreign currency assets (FCAs), the largest component of the country’s forex…
Mumbai, July 17 (IANS) RBI Governor Sanjay Malhotra said on Friday that India’s fundamentals remain strong, with a decent pace of economic expansion despite geopolitical uncertainties triggered by the West Asia crisis.In an exclusive interview to Doordarshan, the RBI governor also admitted that the ongoing geopolitical tensions in West Asia and a potentially weak monsoon pose key risks to India’s economy.Malhotra defended the performance of the rupee in the backdrop of a strengthening US dol…
New Delhi, July 17 (IANS) The Indian rupee snapped its three-day losing streak on Friday, opening 4 paise higher at 96.31 against the US dollar aided by a weaker greenback.The domestic currency had settled at 96.35 in the previous session.The recovery in the rupee came after the dollar index, which measures the US currency against a basket of six major peers, slipped to a one-month low.The dollar index steadied around 100.7 but remained on track for a weekly decline after softer-than-expected US…
New Delhi, July 15 (IANS) There is no escape from the US dollar for China even as Beijing propagates a ‘de-dollarisation’ campaign to promote its own currency, the renminbi, to settle payments in international trade and debt repayments.“China’s export-driven economy is built on access to dollar markets, dollar denominated demand and a global payments and settlement infrastructure that is still overwhelmingly US-centric. For China, a sudden or radical break from the US dollar would not be an …
Seoul, July 13 (IANS) Seoul shares plunged 9 per cent on Monday as investors dumped technology stocks for profit-taking amid renewed tensions in the Middle East. The Korean won fell against the US dollar.The benchmark Korea Composite Stock Price Index (KOSPI) fell 669.01 points, or 8.95 percent, to close at 6,806.93 after falling as low as 6,783.43, reports Yonhap news agency.Trade volume was moderate at 469.86 million shares worth 39.8 trillion won (US$26.5 billion), with decliners far outnumbe…
New Delhi, July 12 (IANS) Beijing has started asking African countries to shift their debt repayments to China from the US dollar to the yuan as part of its strategy to strengthen its own currency and dent the dominance of the American currency in the global payment system as per a media report.Kenya’s decision to restructure part of its Chinese debt and shift repayment from United States dollars into Chinese yuan “is increasingly being interpreted as an early signal of a wider reconfiguration i…
Seoul, July 5 (IANS) The South Korean won has fallen nearly 6 per cent against the US dollar this year, central bank data showed on Sunday, as foreign investors sold off more than 156 trillion won ($102.3 billion) worth of domestic stocks.The average exchange rate stood at 1,484.56 won per dollar during the first half of the year, according to the Bank of Korea’s Economic Statistics System.It marked the second-highest first-half average on record, behind 1,493.08 won in the first half of 1998 du…
Mumbai, July 4 (IANS) India’s aviation sector saw a gradual recovery in international traffic in May over easing geopolitical tensions in West Asia and continued to witness strong domestic demand, a report said on Saturday.Easing geopolitical tensions facilitate gradual normalisation of international flight operations, while lower fuel costs support airlines despite continued pressure from a weak rupee on aircraft leases, maintenance and other dollar-denominated operating expenses, the report …
Mumbai, June 29 (IANS) India’s external debt stood at $762.8 billion at end-March 2026, an increase of $26.3 billion over its level at end-March 2025, according to data released by the Reserve Bank of India (RBI) on Monday. The external debt to GDP ratio increased to 20.8 per cent at end-March 2026 from 19.8 per cent at end-March 2025.Outstanding debt of the government decreased, while non-government debt increased at end-March 2026 over the level a year ago, according to an RBI statement.Debt s…