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The Indian Rupee slumps to near 86.85 at open against the US Dollar as rising crude prices have battered the former.Iran threatens to close the Strait of Hormuz following the US attack on Tehran’s nuclear facilities.Fed’s Waller supports reducing interest rates in the July policy meeting.The Indian Rupee (INR) opens on a bearish note against the US Dollar (USD) and jumps to near 86.85 at the start of the week. Investors were bracing for a significant negative opening of the USD/INR pair, following the risk-off market sentiment and a sharp...

India's foreign exchange reserves have surged, showing a notable increase of USD 2.294 billion, bringing the total to USD 698.950 billion as of the week ending June 13, according to official figures from the Reserve Bank of India.During the recent monetary policy meeting, RBI Governor Sanjay Malhotra assured that this significant forex reserve is sufficient to cover 11 months of imports and approximately 96% of India's external debt. The reserves are approaching the all-time high mark of USD 704.89 billion recorded in September 2024.RBI data highlights that the foreign...

India's foreign exchange reserves are back on the rise—and they're inching closer to the $700 billion milestone once again. According to data released by the Reserve Bank of India (RBI) on Friday (June 20), forex reserves jumped by $2.294 billion to reach $698.95 billion for the week ended June 13.This follows a strong $5.17 billion increase in the previous week ended June 6, taking the reserves up from $691.48 billion to $696.65 billion. India's reserves are now just $6 billion shy of their all-time high of $704.885 billion, recorded at...

In a significant development, Moideenabba Ummer Beary, a fugitive with a 12-year-old Interpol red notice, was successfully deported by the UAE back to India on Friday. This operation was meticulously coordinated by the Central Bureau of Investigation (CBI) and the National Investigation Agency (NIA), officials confirmed.Beary, who was wanted by the NIA's Kochi unit, landed at Mumbai's Chhatrapati Shivaji Maharaj International Airport. His extradition from Dubai marked the culmination of a focused international effort spearheaded by Interpol, the Ministry of Home Affairs (MHA), and the Ministry of External Affairs...

The Indian Rupee ticks higher after sliding to near 86.20 against the US Dollar.Tehran threatens to close the Strait of Hormuz to disrupt the Oil supply chain.Investors expect the Fed to leave interest rates steady on Wednesday.The Indian Rupee (INR) surrenders early losses after posting a fresh two-month low near 86.20 against the US Dollar (USD) and ticks up to near 86.00 during European trading hours on Monday. The USD/INR pair faces pressure as the US Dollar (USD) falls back, with the US Dollar Index (DXY) retreating to near 98.00...

Gold prices rose in India on Friday, according to data compiled by FXStreet. The price for Gold stood at 9,480.17 Indian Rupees (INR) per gram, up compared with the INR 9,366.50 it cost on Thursday. The price for Gold increased to INR 110,593.10 per tola from INR 109,249.10 per tola a day earlier. FXStreet calculates Unit measure Gold Price in INR 1 Gram 9,480.17 10 Grams 94,818.31 Tola 110,593.10 Troy Ounce 294,868.70   Daily digest market movers: Gold price surges as the Greenback and US yields tumble The Greenback plunges...

In a significant shift for global financial markets, the trend of de-dollarization is gaining momentum across Asia, influencing stock markets and reshaping economic strategies. As countries in the region increasingly move away from reliance on the U.S. dollar for trade and financial transactions, the implications for investors and policymakers are profound. This movement, driven by geopolitical uncertainties and monetary policy shifts, has come into sharp focus in recent days, with fresh reports highlighting its growing impact on Asian economies and equity markets.Understanding de-dollarization in Asia Copy link to section De-dollarization...

Captain Gopinath’s journey didn’t begin in a plush office or global boardroom. It began in the rugged terrain of the Indian Army, where discipline and tenacity were the currencies of survival. In 2003, India witnessed an aviation upheaval that few could have imagined. With a single symbolic one-rupee ticket, Air Deccan transformed from a risky startup into a household name. Behind this improbable flight path was Captain Gorur Ramaswamy Gopinath, a former Army officer who dared to question the inaccessibility of air travel in a country of over a billion...

India's forex kitty enough to fund over 11 months of imports: RBI chiefIANS India's foreign exchange reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday. For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India's foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week...

Gold prices fell in India on Thursday, according to data compiled by FXStreet. The price for Gold stood at 9,297.71 Indian Rupees (INR) per gram, down compared with the INR 9,313.37 it cost on Wednesday. The price for Gold decreased to INR 108,443.00 per tola from INR 108,629.30 per tola a day earlier. Unit measure Gold Price in INR 1 Gram 9,297.71 10 Grams 92,974.23 Tola 108,443.00 Troy Ounce 289,191.40   Gold daily market movers: XAU/USD soars as US Treasury yields plummet, weighing on the US Dollar Gold price rallies...