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A weak rupee will inflate crude oil import bill, which, in turn, will lead to high fuel and logistics costs. The domestic currency has shed as much as 3.5% against the dollar this year and 3.2% ...
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LONDON (Reuters) -The euro sank below $0.99 to a new 20-year low on Monday after Russia's halt to gas supplies down its main pipeline to Europe heightened fears about a deepening energy crisis ...
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MUMBAI (Reuters) - The Indian rupee was little changed versus the U.S. currency on Thursday as demand for dollars from oil refiners countered positive cues from Asian peers. The rupee was trading...
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A Staff Reporter. The Indian rupee depreciated by 12 paise to 79.90 against the US dollar (21.77 versus the UAE dirham) in opening trade on Tuesday, weighed down by the strength of the American ...
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The Central Bank of Russia together with the Ministry of Finance has had a rethink on the legalization of crypto. Together they have decided that it is immi Russia's Central Bank Agrees to Legalize Crypto Payment
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2 days agoThe local currency remained under pressure since the start of the current fiscal year. The rupee lost Rs16.57 or 8 per cent from Rs204.85 to dollar on June 30, 2022 to the current level of Rs221.42. At the open market, the buying and selling of the dollar was recorded at Rs231 and Rs233.5 at 4:00pm PST. Advertisement
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Gold will average $1,745 an ounce in 2023, slightly below current prices, as high interest rates and a strong dollar reduce its appeal, a Reuters poll showed on Wednesday. The gold price has fallen to about $1,770 an ounce from a high of $2,069.89 in March as the U.S. Federal Reserve and other central banks increased interest rates rapidly in an effort to tame inflation. They have also boosted ...
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Moneycontrol News. July 12, 2022 / 09:49 AM IST. The Reserve Bank of India (RBI) has allowed settlement of global trade to be done in Indian rupees which is expected to reduce the need for dollars ...
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Banks with even the smallest exposure to the US or the EU are shy of transacting with Russia as possible Western sanctions may affect their overall business," the source said. While a rupee ...
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Russia was India's 25th largest trading partner as of 2021-22, with the size of the total trade at $9.4 billion during the first three quarters of the current fiscal. Its share of exports ...
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The Indian rupee may open slightly weaker against the U.S. currency on Monday after the dollar index scaled a fresh two-decade high. The rupee is likely to open at 79.84-79.86 per U.S. dollar, compared with the previous session's close of 79.7950. It will be "quite a task to take out the 80 level", he said, adding that the psychological level "will continue to attract" speculators and exporters.
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Traders expect the Fed to take the rate to as high as 3.4% by year-end to help bring inflation back to its target. U.S. Treasury yields trended lower driven by a flight to safety, following the...
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The central bank has been heavily intervening in the currency market through dollar sales in order to prevent excessive volatility in the rupee. Reserves have fallen by around $70 billion since late February, which was when Russia invaded Ukraine. Earlier this week, the rupee had touched a fresh low of 80.13 per dollar.
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On December 15 and 16, the ruble took a 22 percent dive, which prompted a run on the Russian national currency. The ruble's spectacular 22 percent plunge on December 15 and December 16 has prompted investors to liken the crisis to 1998, when the ruble lost 27 percent on August 17. Reaching a 16-year low, the ruble fell to 80 against the USD.
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State-owned BPC was targeted by U.S. sanctions in December. IPL made its first payment of 1.77 billion Indian rupees ($23 million) to the Sberbank branch in India after setting up an account ...
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The rupee closed down 0.54% to 79.66 per U.S. dollar, after a short-lived bump on Friday that saw the currency rise following a 50 basis point rate hike from the Reserve Bank of India.
Get priceEarlier in the day, Siluanov told local media that nearly half of the country's roughly $640 billion of gold and foreign currency reserves have been frozen in the wake of Moscow's ongoing war on Ukraine. The Russian authorities will closely monitor inflation and the state of the country's pensions, Siluanov noted.
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On August 17, 1998, Russia announced a technical default on its $40 billion in domestic debt and ceased to support the ruble on the same day. At the time, the bank only had $24 billion in reserves. The stock market and ruble both lost more than 70 percent, and nearly a third of the country's population fell below the poverty line.
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A rupee-for-rouble currency trade pact will give a more direct projection of India's support to Russia. It shall indicate to Washington and other Russia-sanctioning allies of the US that India ...
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The sale is not expected to have a significant financial impact on Huhtamaki in 2022. For further information, please contact: Media: Arto Gröndahl, Media Relations Manager, tel. +358 10 686 ...
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India imported $3.3 billion in goods to Russia in 2021, and the finance ministry has no plans to slow that source of revenue. India has not placed sanctions on Russia. The Federation of Indian Export Organizations (FIEO) announced that India will now switch to a SWIFT alternative that permits rupee-ruble payments between the two nations.
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Petr Josek, Reuters. Gold dropped about 1.5% on Monday as a stronger dollar and recent hawkish comments from U.S. Federal Reserve officials eroded bullion's appeal, while another failed attempt to remain above the key psychological level of $1,800 put further pressure. Spot gold slid to $1,773.85 per ounce by 1143 GMT, having hit its lowest ...
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Personal Finance News: Get latest Finance news including global economic news, top finance news, world finance news & top global financial update from India & world on Zee Business. Stay updated with information on mutual funds, fixed deposits & on tax saving.
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The rupee closed down 0.54% to 79.66 per U.S. dollar, after a short-lived bump on Friday that saw the currency rise following a 50 basis point rate hike from the Reserve Bank of India. "Rupee through today's session was consistently under pressure.
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Rupee tanks to fresh record low: The Indian currency tumbled again to hit a new life-time low of 79.99 against the US dollar on Thursday, under pressure from a host of headwinds like relentless rise in the greenback value, foreign fund outflows and fears of more aggressive Fed tightening after record surge in US inflation. Global market selloffs:
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Indian rupee slips to record low, RBI steps in. MUMBAI (Reuters) - The Indian rupee dropped to an all-time low versus the dollar on Monday on bets the Federal Reserve will keep a restrictive ...
Get priceThe rupee declined 55 paise to 75.16 against the US dollar in opening trade on Thursday, amid weak risk appetite after Russian President Vladimir Putin announced a military operation in Ukraine. Forex traders said sustained foreign fund outflows, a lacklustre trend in domestic equities and elevated crude oil prices weighed on investor sentiment.
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Russia's exports to India stood at $6.9 billion in 2021, mainly mineral oils, fertilisers and rough diamonds, while India exported $3.33 billion worth of goods to Russia in 2021, mainly ...
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Representative image. Credit: iStock Photo. Gold prices edged lower on Friday, as an uptick in the US dollar and fears over aggressive rate hikes by major central banks to tame inflationary ...
Get priceThe rupee was trading at 79.88 per U.S. dollar on Friday, barely changed from the previous session. The rupee has been hovering just above the 80 levels in recent sessions on the back of...
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Aug 31, 2022The rupee, which touched its all-time low of 80.15 against the US dollar in intra-day trade on Monday, rebouned by 39 paise on Tuesday to close at a nearly two-week high of 79.52 against the...
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Nimesh Vora, Reuters News. August 22, 2022. CURRENCIES INDIA FOREX. The Indian rupee was trading little changed to the dollar on Tuesday, hovering just under the psychological 80 level, amid rising concerns about the deteriorating global risk mood. The rupee was trading at 79.8800 at 0530 GMT, barely changed from 79.8675 in the previous session.
Get priceThe next target for Spot Gold at COMEX appears to be $1970 per ounce amid the rising geopolitical risks, according to a report by IANS. It is important to note that Russia is one of the world's largest producers of the precious yellow metal. Further sanctions by the west against Russia could increase the troubles for global supply.
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Today Canadian Dollar Rate to Pakistan Rupee (1 CAD to PKR) is 168.26676 PKR, all prices are updated every hour to give you the best CAD to PKR conversion. ... Add Your Business; Gold Rates. Gold Rates; Gold Rates in Pakistan; WorldWide Gold Rates; Silver Rates. ... We provide breaking news, Pakistani news, International news, Business news ...
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5 days agoBy 1992, Russia was on the IMF's doorstep seeking membership and agreed for a new rouble rate in lieu of aid worth $24 billion. On the first day of the new exchange rate regime, one dollar equalled...
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Reserve Bank of India Governor Shaktikanta Das said the rupee has held its own in extremely volatile global financial markets, which has seen sharp depreciation of most major currencies against ...
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"The Russian economy is losing approximately $200 million dollars a day — or $70 billion on an annual basis — as a direct result of the war." What's more, European nations have vowed to cut their...
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New Delhi is preparing a list of items it can export to Russia to narrow the about $5 billion trade deficit it runs currently, while considering making payments for crude oil in rupee, the people ...
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Mar 14, 2022Latest data show India's bilateral trade with Russia stood at $10.8 billion, accounting for less than 1.5% of the South Asian nation's total, the NDTV reported. International sanctions and financial restrictions on Russia after its invasion of Ukraine are disrupting supply chains and driving up commodities prices, which add to the inflation ...
Get priceIndia's finance ministry and the Reserve Bank of India have not commented so far on the mechanism, which would let Indian exporters continue their business with Russia even after Western sanctions restricted international payment mechanisms. The arrangement would also allow India to buy Russian energy exports and other goods.
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