Quick Look: USD/INR Near Record High: The exchange rate nears an all-time high of 83.7190 due to USD strength. US Dollar Strength: Driven by risk aversion and rising US Treasury yields, tempered by weak labour data. RBI Intervention: Potential central bank actions to support the Rupee may prevent further depreciation. As the USD/INR exchange rate …
USD/INR Nears Record High of 83.7190 Amid Market Turbulence Read More »
Quick Look: Currency Movements: The Indian Rupee recovered against the USD ahead of key PMI data from India and the US. Recent Price Changes: USD/INR saw its biggest weekly drop over two months due to month-end USD demand from importers. Significant Developments: Potential BJP victory in India’s election could strengthen the INR, with the RBI …
Indian Rupee Slides Before Key PMI Data and Election Results Read More »
Quick Look: Chinese Yuan is expected to depreciate to 7.35 by Q2 2024 and 7.45 by Q3. PBOC set the CNY reference rate at 7.1059, with operations aimed at stability. Shifts in Chinese production affect global market prices and trade. As of now, the exchange rate for the USD/CNY stands at 7.1059. Looking ahead, financial …
As the US dollar fell, the US stock market started to rise, but the Nasdaq stock index ended in negative territory on Monday. The fall in the dollar index pushed oil prices higher in early trading on Tuesday. Meanwhile, the fall in the US bond yields extended for another session during the morning session in …
BlackRock CEO Larry Fink believes that the current Russia-Ukraine war increased the use of digital currencies to settle international transactions. Fink noted that the present war is forcing countries to reconsider their currency attitudes, eventually becoming a global digital payment network in a letter to shareholders. He said the war had ended the forces of globalization in …
Digital Currencies Could Earn a Push from the War Read More »
Unocoin is India’s oldest cryptocurrency trading site. Customers can now use bitcoin to purchase Domino’s Pizza, Baskin Robin ice cream, Cafe Coffee Day coffee, and also other utilities from over 90 different companies. According to the Bengaluru-based startup, a registered Unocoin user can use bitcoin for as little as INR 100 or as much as …
Wise, Financial technology company, stated that users in India could now send money abroad to 44 countries worldwide. That includes Singapore, the United Kingdom, the United States, the United Arab Emirates, and countries in the eurozone. According to the Reserve Bank of India data, India’s outward remittances in 2019-2020 were about $18.75 billion. Under a …
Wise lets Indian residents transfer money abroad Read More »
Global Markets and Crude Oil Prices Affected Indian Rupee The Indian rupee fell by 8 paise to close at 73.42 points against the U.S. dollar on May 12, disrupting its four-day gaining streak due to risk aversion in the global markets and surge in crude oil prices. Investors have to worry about several factors such …
Global Markets and Crude Oil Prices Affected Indian Rupee Read More »
On May 5, Indian banking shares were boosted after the central bank introduced measures to raise lending. It’s not a secret that the COVID-19 crisis resumes taking its toll on India. The Nifty Bank index was up 1.36%, while the Nifty PSU index, which captures the performance of India’s public sector banks, increased by 1.38%. …
The central bank of India supports lending to help economy Read More »
The Indian rupee declined to the lowest level in nine months against the U.S. dollar on Thursday. It is declining as there are growth concerns emerging yet again in response to lockdowns. Meanwhile, the benchmark 10-year bond yield rose, due to concerns that further strict lockdowns to curb Covid-19 cases could affect economic growth and …
Indian Rupee Declined to a Nine-Month Low on April 15 Read More »
The Indian rupee dropped 75 paise to 74.16 against the U.S. dollar on Wednesday. The rupee fell to the lowest point since November 20, after the Reserve Bank of India made the decision to maintain the status quo on policy rates for the fifth time in a row. The country’s central bank kept its key …
Indian Rupee Fell to the Lowest Level Against the Dollar Read More »
Analysts say that India-UK bilateral relations will touch a new high in the post-corona world. India is expected to be a priority country for Britain, leading to an improved economic partnership. Based on Britain Meets India report, developed by CII and Grant Thornton Bharat, FDI inflow from the United Kingdom to India for a particular …
India expected to be priority country for Britain Read More »
Interestingly, after a strong decline, the U.S. Dollar found support near 0.8870 against the Swiss Franc. It is worth noting that USD/CHF exceeded the 0.8920 resistance. This is not the end of the story as it could face hurdles near 0.9000. Let’s have a look at the 4-hour chart. As can be seen from the …
U.S. Dollar Strengthened its Position Against Swiss Franc Read More »
India has a huge potential when it comes to cryptocurrencies thanks to various factors. Interestingly, Unicas opened a physical crypto bank branch in Jaipur, India. As a reminder, Unicas a joint venture between Indian online crypto banking platform Cashaa and United Multistate Credit Co-op Society. It is worth noting that, back in October, the Multistate …
Indian Crypto Bank Opened its First Physical Branch Read More »
Airlines all over the world are trying to adapt to the everchanging environment. It is not an easy task as the coronavirus pandemic disrupted the industry, as can be seen from the example of one of India’s largest carriers. As of August 21, IndiGo was flying at about 32% of its capacity. This fact once …
India’s One of the Largest Carriers and Coronavirus Read More »
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