New Delhi, May 12 (IANS) The moderate jump in inflation in April reflects relatively stable price conditions across several core consumption categories, particularly transport, industry leaders said on Tuesday.However, food price pressures remain elevated in select commodities, indicating the continued importance of supply-side monitoring, said PHDCCI.“Among major commodity groups, transport inflation remained subdued at near-zero levels as Government has not increased retail pump prices despi…
Latest US Dollar News & Updates
New Delhi, April 24 (IANS) India’s currency may be under pressure in the short term, but its long-term story remains compelling, Chief Economic Adviser V. Anantha Nageswaran has said, describing the rupee as “fundamentally undervalued” and an attractive opportunity for investors.Speaking to Bloomberg, Nageswaran said the current valuation of the rupee offers a strong entry point, particularly for long-term investors looking at India’s growth potential.His remarks come at a time when the …
Mumbai, April 24 (IANS) Gold and silver prices started the session on a weaker note on Friday, with both precious metals declining by nearly 1 per cent in early trade on the Multi Commodity Exchange (MCX).Gold futures for June 5 opened 0.39 per cent or Rs 594 lower at Rs 1,51,167 per 10 grams compared to the previous close of Rs 1,51,761.Later, the yellow metal touched an intra-day low of Rs 1,50,750, down 0.66 per cent or Rs 1,011. At the last count, it was trading at Rs 1,51,449, a decrease of…
New Delhi, April 23 (IANS) The Reserve Bank of India purchased $7.41 billion in the foreign exchange market during February this year on a net basis, marking the second straight month of net dollar buys, data from the monthly bulletin released on Thursday showed.The value of the Indian rupee rose 1 per cent vis-a-vis the dollar in February to post its first monthly gain in 10 months following the announcement of a trade deal between India and the US.During the month, the RBI purchased $21.4 bill…
New Delhi, April 21 (IANS) The Reserve Bank of India (RBI) proposal to the Union government to place the linking of Central Bank Digital Currencies (CBDCs) of BRICS countries on the agenda for the 2026 BRICS summit, to be chaired by India, could play a key role in facilitating international payments, according to an article.BRICS (Brazil, Russia, India, China and South Africa) has, with the recent addition of Iran, Ethiopia, the United Arab Emirates (UAE), Egypt, and Indonesia to the bloc, emerg…
Mumbai, April 20 (IANS) The Indian rupee gained 10 paise on Monday, opening at 92.83 against the US dollar, buoyed by a significant decline in crude oil prices, optimism around easing geopolitical tensions, and supportive measures from the Reserve Bank of India (RBI).The dollar index — which measures the greenback against a basket of six major currencies — rose to 98.27, up 0.37 per cent from the previous close.According to the currency market experts, a sustained move above Rs 93 could extend…
Washington, April 18 (IANS) Finance Minister Koo Yun-cheol said the Korean won has been stabilising against the US dollar following its depreciation amid the ongoing US-Israeli war against Iran, expressing hopes that it will align with market expectations.Koo made the remarks during a meeting with Korean reporters in Washington, as the Korean currency strengthened to the 1,460 won range against the greenback after Iran’s reopening of the crucial Strait of Hormuz, amid expectations that the Unite…
Mumbai, April 17 (IANS) The Indian currency strengthened by 25 paise to 92.95 against the US dollar in early trade on Friday, supported by easing pressure on the currency after the Reserve Bank of India (RBI) reportedly asked state-run oil refiners to use a special credit line instead of buying dollars.The domestic currency opened stronger after closing at 93.20 in the previous session, amid improved sentiment in local equities and hopes of easing geopolitical tensions.However, the currency rema…
Seoul, April 16 (IANS) South Korean stocks traded sharply higher late on Thursday morning amid hopes for a second round of peace talks between Washington and Tehran.The benchmark Korea Composite Stock Price Index (KOSPI) added 132.06 points, or 2.17 percent, to 6,223.45 as of 11:20 a.m (local time), reports Yonhap news agency.U.S. President Donald Trump said in an interview with Fox News released Wednesday (U.S. time) that the U.S.-Israeli war against Iran is “very close to over,” while the Whit…
Washington, April 14 (IANS) The US dollar has retained its role as a global safe-haven currency despite recent volatility, the International Monetary Fund (IMF) has said, even as central banks worldwide remain on high alert to contain inflation risks triggered by the Middle East conflict. Speaking during a group interview with reporters from India, Japan, the UAE, the Netherlands and Chile, IMF Chief Economist Pierre-Olivier Gourinchas said recent market movements indicate a return to more tr…