The rupee closed at 81.93 per US dollar on Friday, compared to the previous close of 82.1750. Although it reached a five-week high of 81.8675 during intraday trading, importers hedging their positions prevented sustained gains. Furthermore, stop loss-related dollar sales contributed to the rupee's rise. Foreign investors also played a role in the rupee's performance, with approximately $800 million invested in local shares over the past four… read-more
Courtesy: The Economic Times
Gold prices in Delhi stands at Rs 50,601 per 10 gram, which is Rs 134 lower than the previously recorded price, on May 4, reported HDFC Securities. Furthermore, silver now costs Rs 62,787 per kg, which is Rs 169 lower than the previously recorded price. Also, a surprise rate hike by RBI, has resulted in the appreciation of Rupee by 8 paise, to settle at Rs 76.40 against US dollar.
Courtesy: Press Trust Of India
Gold prices have increased by Rs 271, and currently stands at Rs 51,670 per 10 grams, as of March 3, according to HDFC securities. Meanwhile, silver gained Rs 818, and currently stands at Rs 68,425 per Kg. Reportedly in the previous trade, gold finished at Rs 51,399 per 10 grams and silver at Rs 67,607 per Kg. Amid the ongoing Russia-Ukraine conflict, Rupee declined by 15 paise against US dollar.
Courtesy: Press Trust Of India
A prototype of US' first dollar coin has fetched $840,000 in an auction. Known as a 'pattern', the 1794 copper coin exhibits the Liberty's portrait while displaying an eagle on a rock on the flip side. Interestingly, the coin is considered to be a "one-of-a kind" prototype as it misses the engraved stars. Earlier owned by businessman Bob Simpson, the coin's auction price was expected in the range of $350,000-$500,000.
Courtesy: Hindustan Times
The Indian rupee saw a decline of 105 paise against one US dollar, on April 7 markets shuts at 74.47 making it the biggest fall in last 20-months. However, the RBI's status quo on repo rate remains firm. According to a Research analyst Saif Mukadam, the depreciation is fuelled due to new lockdown restrictions. Besides, the Central government claims that the economic growth remains uncertain due to lockdown.
Courtesy: Deccan Herald
Indian rupee has emerged as the only thriving Asian currency in the month of March, owing to foreign investments attracted by share-sale offers. Reportedly, $2.4-billion worth international acquisitions of local stocks and an array of initial public offerings improved rupee's stature by 1.3% this month. Public companies raising $1 billion-plus loans and the RBI allowing the currency appreciation have also been driving factors. However,… read-more
The Indian currency on January 4 surged at a four-month high against the US dollar, opening at 72.84 from the last close of 73.12. Experts opined that the positive increment has resulted after Indian government approved two COVID-19 vaccines. Citing the record-high GST collections in December 2020, the IFA Global CEO Abhishek Goenka said the domestic consumption is recovering and also expected a further rise in rupee in the future.