Currencies

Mumbai: The Indian rupee opened 75 paise stronger at 84.65 against the US dollar on Tuesday, following its previous close at 85.38 a dollar. The trading range for the day was expected to be between 84.50 and 85.25, according to analysts. The dollar maintained its gains following a significant trade pact between the US and China. The US will reduce tariffs on Chinese goods from 145 per cent to 30 per cent for 90 days, while China said it will cut tariffs on US goods from 125 per cent to...

The Indian rupee opened sharply higher at 84.62 per US dollar on Tuesday (May 13), strengthening by 75 paise from Friday’s (May 9's) close of 85.37. The forex market was shut on Monday (May 12) due to Buddha Purnima.The sharp rebound comes after India and Pakistan agreed to a ceasefire over the weekend, easing geopolitical tensions that had rattled investors. Indian equity markets responded with a powerful rally on Monday (May 12), with benchmark indices rising nearly 4%, marking their best day in four years. The global backdrop also turned...

Gold prices remained broadly unchanged in India on Tuesday, according to data compiled by FXStreet. The price for Gold stood at 8,839.07 Indian Rupees (INR) per gram, broadly stable compared with the INR 8,830.46 it cost on Monday. The price for Gold was broadly steady at INR 103,099.20 per tola from INR 102,996.80 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 8,839.07 10 Grams 88,391.52 Tola 103,099.20 Troy Ounce 274,926.00   Daily digest market movers: Gold prices pressured by high US Treasury yields US Treasury...

John Matthai told the House that he had informed Ceylon and Pakistan about the devaluation of the Indian rupee but had received no response from the latter. Matthai released an announcement in the press on 19 September, a Monday, about the devaluation and the concurrence was received from the IMF by the finance ministry on the same day. However, since Monday to Wednesday were all bank holidays, the new rate became effective only on 22 September 1949.Matthai said that while he appreciated the difficulties faced by the British government, he...

In the same way, traditional fiat currency banks operate differing kinds of banking styles and options available to their customers, crypto wallets offer different styles of wallets available to their users to fit their preferences.1. Custodial Wallets vs Non-custodial WalletsThe main difference in the style of crypto wallets is the difference between custodial and non-custodial options. Custodial wallets are more beginner-friendly and perhaps a better place to start for novices to crypto. Custodial wallets, importantly, are managed by 3rd-parties who hold the private keys for you. This is often fintech...

The Indian digital finance scene may be at a crossroads. The issuance of a Digital Rupee (e₹) by the Reserve Bank of India (RBI) marks a huge step towards a digital economy, while at the same time, in other parts of the world, the DeFi sector is expanding, as financial service products and services are moving to blockchain and other decentralized financial systems that do not have traditional intermediaries. Between the two paradigms of a centrally issued digital currency and decentralized finance systems are challenges for the Indian financial ecosystem...

NEW YORK: Global shares rallied, while gold and safe-haven currencies slumped against a resurgent dollar on Monday (May 12) as the US and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy. Following weekend talks in Geneva, both sides agreed that the US would drop levies on Chinese imports from 145 per cent to 30 per cent during a 90-day negotiation period and China would cut duties from 125 per cent to 10 per cent. Wall Street stocks made significant gains, with the...

Gold drops sharply after stunning rally Reuters 12 May, 2025, 10:00 pm Last modified: 12 May, 2025, 10:12 pm US dollar banknote and rising stock graph are seen in this illustration taken April 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo"> US dollar banknote and rising stock graph are seen in this illustration taken April 25, 2025. REUTERS/Dado Ruvic/Illustration/File Photo Global shares rallied, while gold and safe-haven currencies slumped against a resurgent dollar on Monday as the U.S. and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the...

LONDON - Global shares rallied, while gold and safe-haven currencies slumped against a resurgent dollar on May 12 as the US and China agreed to temporarily slash harsh reciprocal tariffs and cooperate to avoid rupturing the global economy.Following weekend talks in Geneva, both sides agreed that the US would drop levies on Chinese imports from 145 per cent to 30 per cent during a 90-day negotiation period, and China would cut duties from 125 per cent to 10 per cent.Wall Street stocks were set for significant daily gains, with the...

The US Dollar jumps up over 1% against most major peers, after news of a deal between China and the US. Both countries agreed to slash tariffs for 90 days following two days of talks in Switzerland. The US Dollar Index pops to 101.65, benefiting from the relief in US-China tensions. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, exceeds a more than 1% rally on Monday after China and the United States (US) agreed to a 90-day pause in their trade war...