Quick Look The RBI grew forex reserves to $645,580,000,000, marking six weeks of growth. Reserves increased by $26,500,000,000 over five weeks, aiming to stabilize the Rupee. RBI uses direct market interventions to manage currency volatility. Rupee value showed modest improvement, underscoring market fluctuations. Strategic reserve composition includes diverse assets for robust economic defense. RBI Adds …
Oil prices rose on Friday due to hopes that fuel demand in the U.S. and Europe will rebound as economic growth rebounds and the lockdown slows. However, India’s worries about the raging second wave of COVID-19 cases hindered the rise. At 0137 GMT, Brent crude oil futures rose 21 cents, or 0.3%, to $65.61 a …
Oil Demand Recovers, but India’s COVID Numbers Surge Read More »
European stock markets opened mixed on Wednesday after their worst daily loss so far this year on Tuesday. Investors hope that a positive corporate earnings season will ease concerns about the surging COVID-19 in India. Analysts at Morgan Stanley, in a note, said that they believe the Q1 earnings season will be strong. Moreover, they …
EU Stock Futures Mixed; COVID Cases in India Rise Read More »
After several years of steady increase, India’s smartphone market touched a rough patch in 2020. According to International Data Corporation, India’s smartphone shipments fell by approximately 2% year-on-year to 150 million units. The largest decline occurred in the first half of the last year when sales declined by 26% year-on-year. The slump was driven by …
India’s smartphone shipments slump by 2% in 2020 Read More »
Gold prices declined sharply in the Indian market for the second straight session. On Multi Commodity Exchange, the yellow metal futures dropped 0.6% and settled at Rs 48,438 per 10 gram. Meanwhile, silver futures dipped 2.2% and touched Rs 72,009 per kg after the recent rise. Significantly, in the previous session, the yellow metal’s price had …
Gold and silver declined sharply in Indian markets Read More »
The euro fought to join a broader risk rally against the dollar on Wednesday. Analysts stated the risk of extended lockdowns in Europe to combat the spread of coronavirus. The continent’s delay in a vaccine rollout was declining the currency. Down 0.1% versus the greenback at $1.2117 by 1130 GMT, Europe’s shared currency had only the …
According to analysts, a Brexit trade deal and consistent foreign fund inflows will cause further appreciation in Indian Rupee as the currency ends 2020 on a high note. The rupee has been weak in 2020. The currency did not appreciate much despite record inflows. Furthermore, India’s forex reserves resumed increasing in order to make exports …
Gold prices increased by Rs 144 and settled at Rs 49,995 per 10 gram in the Mumbai market retail market of a softer greenback and positive global cues. Gold boosted hopes surrounding the U.S. stimulus, but the rise was pushed by strength in the rupee. The price of 10 gram 22-carat gold in Mumbai was Rs 45,795. …
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