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Mumbai: The weighted average domestic term deposit rate (WADTDR) on fresh rupee term deposits of scheduled commercial banks declined to 5.90% in July from 5.99% in June, Reserve Bank of India (RBI) data showed. However, the WADTDR on outstanding rupee deposits remained unchanged at 6.58%.The weighted average lending rate (WALR) on outstanding rupee loans of scheduled commercial banks stood at 8.97% in July, little changed from 8.96% in June. The data is reported every month. The WALR on fresh rupee loans declined marginally to 8.52% in July from 8.53% in June.Read more: Pace of gold loan expansion slows as banks…
The United Kingdom Maritime Trade Operations (UKMTO) said on Monday that a tanker has reported being struck by three projectiles while sailing out of the Strait of Hormuz, Reuters reported.The incident was reported 17 nautical miles east of Khasab in Oman. No casualties or environmental damage reported.Market reactionAt the time of writing, the West Texas Intermediate (WTI) is up 3.22% on the day at $85.44. WTI Oil FAQs WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also…
The Dollar Index trades just beneath 99.50 and 0.26% lower, on a session that handed it every input a currency is supposed to rally on. American forces struck Iranian launchers on Larak Island, Crude Oil ran better than 2% higher, yields rose across the curve, and pricing for a September Federal Reserve increase sits near 60% against roughly 35% before Friday. The Dollar opened on its own 200-day Exponential Moving Average (EMA), poked briefly above it, and has traded beneath it since.Everybody turned hawkish at the same timeThe repricing that followed Friday’s Jackson Hole keynote was not an American event,…
BNY’s Wee Khoon Chong notes Oil prices are underpinned by renewed U.S.–Iran tensions near the Strait of Hormuz and President Trump’s claim of a deal granting U.S. majority control over Venezuela’s vast reserves. Chong stresses elevated energy costs, tighter global crude flows and limited detail on legal terms, suggesting uncertainty around implementation and market impact.Hormuz tensions and Venezuelan reserves”The U.S. says it has struck Iranian rocket launchers that were preparing to send mines into the Strait of Hormuz, in its first military action against Iran in more than a month. U.S. Central Command said forces are monitoring the area closely…
The rupee pared initial losses and settled for the day with gains of 26 paise at 95.17 (provisional) against the US dollar on Monday, on possible RBI intervention, as rising crude oil prices and geopolitical strain weighed on the local unit.Forex traders said the Reserve Bank of India (RBI) might have intervened to support the currency at lower levels after market participants raised the probability of a rate hike by the US Federal Reserve in September, pushing US Treasury yields higher and triggering a broad dollar rally.At the interbank foreign exchange, the rupee opened at 95.56 and oscillated between 95.11…
The Indian rupee hit a nearly four-week high against the U.S. dollar on the last day of August, and notched a monthly gain, on support from inflows related to a stock index rejig and central bank intervention.The rupee closed 0.2% higher at 95.1625, its highest level since August 5, from the previous session’s close of 95.3775.For the month, the currency gained 0.2%, after declining 0.8% in July.The currency reversed its move around midday after the Reserve Bank of India’s intervention, with such sustained presence insulating it from adverse external developments.The dollar also came under renewed selling pressure on offer from…
Commerzbank’s Tatha Ghose highlights that recent Polish fiscal and monetary developments are negative for the Polish Zloty. A larger 2027 deficit target, President Nawrocki’s vetoes undermining revenue measures, and accelerating underlying inflation leave little sign of fiscal consolidation while the National Bank of Poland stays cautious rather than hawkish, increasing the Zloty’s risk premium versus other CE3 currencies.Deficit and politics lift risk premium”Recent Polish developments turned less favourable for both fiscal and monetary outlooks. The government has adopted a 2027 fiscal deficit ceiling of PLN 282.6bn (expanded from the PLN 271.7bn target for 2026), and implying 7.1% of GDP deficit…
On Friday (28 August), the rupee rose marginally by 2 paise to settle at 95.43 against the US dollar. The rupee fell 13 paise to trade at 95.56 per US dollar on Monday morning pressured by rising crude oil prices and geopolitical strain.Forex traders said market participants have raised the probability of a September Fed rate hike, pushing US Treasury yields higher and triggering a broad dollar rally, denting investor sentiments further.At the interbank foreign exchange market the rupee opened at 95.56, registering a fall of 13 paise from its previous close.On Friday, the rupee rose marginally by 2 paise…
The AUD/JPY cross trades in negative territory around 114.50 during the early European session on Monday. The Japanese Yen (JPY) strengthens against the Australian Dollar (AUD) as Japan’s annual core Consumer Price Index (CPI) inflation in Tokyo rose for a third consecutive month in August, reinforcing expectations that the Bank of Japan (BOJ) could raise interest rates as early as September.Hotter inflation data came after BoJ Deputy Governor Ryozo Himino delivered hawkish remarks and highlighted growing inflation risks. Most market participants currently expect the Japanese central bank to raise its policy rate to 1.25% at its upcoming policy meeting. On the other…
US Treasury Secretary Scott Bessent said on Sunday recent Japanese Yen (JPY) moves were “pretty well contained,” suggesting the Japanese currency’s renewed weakness were not seen as the kind of disorderly moves that led to a rare joint Japan-US intervention last month, Reuters reported.On China’s front, Bessent stated that Washington will hold ‘very robust’ talks with China, focusing on stopping powerful models getting into non-state actors’ hands. Key quotes Japan likely reached end of Abenomics reflation program. Yen fluctuations are ‘pretty well contained’ when questioned about disorderly moves. Will meet BoJ’s Ueda on sidelines of G20 finance leaders’ summit, praises Ueda as an underrated…