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The Reserve Bank of India will offer state-run firms a concessional foreign exchange swap facility, allowing them to hedge overseas borrowings at roughly half of the prevailing market costs, according to some analysts.The swap will be undertaken at a fixed rate of 1.5% a year for an average maturity of three years and above, the central bank said in a statement Monday. The details came after the RBI announced the facility on Friday as part of its efforts to boost capital inflows into the country.The move aims to make overseas funding more attractive at a time when the RBI is…
The rupee rose 20 paise to 95.41 against the US dollar in early trade on Tuesday as Brent crude oil prices and the US dollar index retreated from their elevated levels after a pause in US-Iran hostilities.Forex traders said the rupee opened on a positive note after Israel and Iran agreed to deescalate and ease strikes.At the interbank foreign exchange market the rupee opened at 95.47, then touched 95.41, registering a gain of 20 paise from its previous close.On Monday, the rupee depreciated 43 paise to settle at 95.61 against the American currency.The rupee is likely to trade a 95.40-95.80…
NZD/USD gains ground for the second successive day, trading around 0.5810 during the Asian hours on Tuesday. Technical analysis of the daily chart suggests the spot price is moving sideways within a rectangle pattern, reflecting a period of market consolidation and indecision.The NZD/USD pair is maintaining a bearish near-term bias as spot holds beneath both the nine-day and 50-day Exponential Moving Averages (EMAs). The alignment of price below these short- and medium-term EMAs suggests rallies are likely to be sold, while a soft 14-day Relative Strength Index (RSI) reading around 43 hints at waning upside momentum rather than outright oversold…
Israeli Prime Minister Benjamin Netanyahu said the war against Iran and its Lebanon-based proxy Hezbollah “has not yet ended,” though he insisted both are weaker than ever, CNBC reported on Monday.His remarks came after Iran’s military said it has ceased strikes against Israel. However, Iran’s central military command warned that if Israel continued to attack, including in southern Lebanon, “much harsher and more crushing actions than before will be on the way.US President Donald Trump said in a Truth Social post earlier Monday that, despite the latest outbreak of violence, both Israel and Iran “are looking to do an immediate…
DBS Group Research economist Radhika Rao says the Reserve Bank of India (RBI) kept its policy rate at 5.25% with a neutral stance but a clearly hawkish tone, focused on inflation and currency stability. She highlights strong FY26 growth at 7.7% real Gross Domestic Product (GDP), but warns that higher Oil prices, El-Nino risks and global conflict could pressure FY27 growth and inflation.RBI pause, growth strong but vulnerable”The RBI monetary policy committee (MPC) left the benchmark rate unchanged at 5.25%, along our expectations, while the stance was maintained at neutral. Policy guidance was cautious, as the Governor highlighted tightening global…
India High Resolution Question Mark Concept istockphoto for BL | Photo Credit: XtockImages The rupee on Monday almost ceded all the gains it made in the last trading session, recording its biggest single day fall in a month in the process.The Indian currency was weighed down by high crude oil prices amid the continuing West Asia conflict, dollar gaining strength and expectation of the US Fed tightening monetary policy in the coming months.The rupee closed at 95.71 per US dollar, down 0.81 per cent, against the previous close of 94.94.The Indian currency got a booster shot last Friday as the…
Gold (XAU/USD) recovers some ground on Monday after sliding to its lowest level since March, as traders assess fresh geopolitical developments in the Middle East. However, hawkish Federal Reserve (Fed) expectations continue to cap the upside.At the time of writing, XAU/USD is trading around $4,330 after hitting an intraday low of $4,268, a level last seen on March 23.Iran and Israel exchanged fire over the weekend for the first time since the ceasefire announced in April. The renewed hostilities have dimmed hopes for a near-term peace deal in the Middle East.US President Donald Trump tried to calm the situation, posting…
The Indian rupee reversed nearly all of the previous session’s rally on Monday, pressured by rising oil prices, fragile risk appetite and patchy corporate flows.A raft of measures aimed at supporting the currency battered by the impact of the months-long Iran war had boosted the rupee to its best day in two months on Friday.However, rising crude and renewed expectations of a Federal Reserve rate hike have offset their positive impact.The rupee ended down 0.8% in its sharpest fall in four weeks to settle at 95.7075 per dollar.Still, analysts say the measures to attract dollars would lead to $30 billion…
Crude prices have jumped by more than $4 on Monday, with the US benchmark West Texas Intermediate (WTI) barrel trading at $92.52 at the time of writing, as tensions between Israel and Iran flare, adding new strains to an already fragile ceasefire in the area.Iran-backed Houthi militias from Yemen confirmed earlier on Monday that they targeted Israel and announced a ban on Israeli vessels in the Red Sea. These comments follow a new set of reciprocal attacks between Israel and Iran, which have raised concerns about the resumption of an all-out war in the region.A spokesperson for Iran’s foreign ministry…
Gold (XAU/USD) attracts fresh sellers following a modest Asian session uptick to the $4,350-$4,355 area and touches its lowest level since March 23 on the first day of a new week. Renewed hostilities in the Gulf push Crude Oil prices higher, fanning inflationary concerns and bolstering bets for more hawkish central banks. This, in turn, is seen as a key factor undermining demand for the non-yielding bullion. The commodity now seems to have found acceptance below a technically significant 200-day Simple Moving Average (SMA) and remains vulnerable to decline further, with bears awaiting acceptance below the $4,300 mark before placing…