US Dollar

The rupee crashed 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions. Forex traders said the Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments. Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures, they added. At the interbank foreign exchange, the local unit opened at 92.92 against the greenback and soon breached the 93-mark for the first time. It kept losing ground through the session and eventually settled at 93.71 (provisional), down 82 paise from its previous close. On Wednesday, the rupee slumped 49 paise to close at its previous record low of 92.89 against the US dollar. Forex markets were closed on Thursday on

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Silver futures plunged by Rs 4,232 to Rs 2.55 lakh per kilogram in the futures trade on Monday, as weak domestic demand and a strong US dollar weighed on investors' sentiment. On the Multi Commodity Exchange, the white metal for the May delivery declined by Rs 4,232, or 1.63 per cent, to Rs 2,55,203 per kilogram in a business turnover of 5,787 lots. Analysts said silver prices remained under pressure as weak retail demand in the domestic market coincided with macroeconomic headwinds in global markets. Indian bullion dealers have extended discount offerings to unprecedented levels, reaching USD 83 per ounce over domestic official pricing -- inclusive of 6 per cent import and 3 per cent sales levy -- the highest discount observed since July 2016, compared to USD 28 in the previous week, Renisha Chainani, Head - Research at Augmont, said. The sharp increase in dealer discounts indicates a profound weakening in retail demand for precious metals, she said, adding that jewellers have ...

Third year of consecutive BoP deficit if oil stays above $100/bbl, to weigh on rupee

The rupee fell to an all-time low of 92.4250 to the US dollar on Friday and it has lost about 1.5 per cent since the war broke out on February 28

The dollar ​was up 0.8 per cent to $1.1525 on the euro, its highest since November, and rose almost 0.4 per cent to 158.48 ‌yen early in the Asia session

Spot gold was up 0.5 per cent at $5,166.3 per ounce as of 1800 ist, while US gold futures for April delivery were up 0.7 per cent at $5,168.20

A sell-off for stocks is slamming Wall Street after careening from Europe and Asia, and oil prices are leaping even higher as rise that the war with Iran is widening and may do more sustained damage to the economy than feared. The S&P 500 dropped 1.6% in early trading on Tuesday. The Dow Jones Industrial Average sank 880 points, or 1.8%, and the Nasdaq composite lost 1.8%. Crude oil prices jumped more than 8% as Iran struck the US Embassy in Saudi Arabia, part of a widening of targets that's also including areas critical to the world's oil and natural gas production. Treasury yields rose.

The beginning of what could be a multi-decade journey has been made. It will be a slow, consistent process, not a hasty one that may cause disruptions

Oil prices eased ahead of another round of talks between the United States and Iran ​due in Geneva on Thursday, with the risk of US military strikes lingering if a deal is not done

The trade with the US in dollars does not contradict Russia's principle policy of use of national currencies in foreign transactions, the Kremlin said Saturday. Russia switched to the use of national currencies in foreign trade after its USD and Euro accounts were frozen by the West following the outbreak of the 2022 conflict with Ukraine and has been pushing for a global de-dollarisation trend. In an interview to the state-run TASS news agency, the Kremlin spokesperson Dmitry Peskov pointed that the dollar is the national currency of the United States, so its use in transactions with Washington will not conflict with the principle of transitioning to national currencies. "In general, yes," the Kremlin spokesman agreed with the thesis about the dollar as the national currency in Russian-American trade and that its use will not fundamentally affect Russia's interactions with its current partners. Amid reports of bilateral negotiations to expand economic cooperation between Moscow an

Indian unit settles at 90.64 per dollar as RBI intervenes via dollar sales; forex reserves drop $6.7 billion in week ended February 6 on decline in gold holdings

The rupee was headed for a largely flat open before the unexpected intervention, with Asian peers showing little reaction to the upside surprise in US payrolls

The dollar, said Aditya Bhave, senior US economist at BofA Global Research, will most likely remain the world's reserve currency.

How the US is abandoning the openness that helped it win the Cold War

In geopolitical news, the White House said that diplomacy is President Donald Trump's first ‍choice for dealing with Iran and he will wait to see whether a deal can be struck at high-stakes talks

The rupee strengthened marginally on Thursday on modest inflows from a bond issue, but importer demand for dollars and foreign outflows kept gains limited ahead of the RBI's policy decision

Rupee posts its biggest single-day gain in seven years as US tariff cut to 18 per cent boosts sentiment and triggers unwinding of speculative short positions

China is stepping up efforts to boost the yuan's global role as President Xi Jinping calls for wider use of the currency in trade, investment and foreign exchange markets

RBI intervention via dollar sales prevented the rupee from breaching the 92 mark, even as it closed at a fresh low amid FPI outflows and dollar strength