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3D Gears with Indian Rupee symbol. 3D Rendered illustration. | Photo Credit: Sibani Das The rupee depreciated 17 paise to 92.71 against US dollar in early trade on Thursday as the fragile ceasefire and Iran’s threat to step out of the talks if Israel kept bombing Lebanon kept investors wary.Forex traders said markets are in a wait-and-watch mode rather than strong directional positioning as the situation in West Asia remains fragile.Geo-Political uncertainty was still high amid Iran’s threat to step out of the talks if Israel kept bombing Lebanon, keeping investors wary of the opening of the Strait of Hormuz.At…
Gold (XAU/USD) once again shows some resilience below the $4,700 mark during the Asian session on Thursday, and for now, seems to have stalled the previous day’s retracement slide from a three-week high. Skepticism over the durability of the US-Iran ceasefire benefits the US Dollar’s (USD) reserve currency status and acts as a headwind for the commodity. However, the US Federal Reserve’s (Fed) dovish outlook holds back the USD bulls from placing aggressive bets and helps limit the downside for the non-yielding yellow metal.Israel carried out a large wave of air strikes across Lebanon, saying that the ceasefire was not…
Sporadic fighting continued in the Middle East, including in Lebanon, killing hundreds of people and drawing a threat of retaliation from Iran, Reuters reported on Thursday. Iran officials cast that as violating the terms of the less than day-old ceasefire, suggesting that it would be “unreasonable” to proceed with talks to forge a permanent peace deal with the United States (US).The warning from Iran’s lead negotiator, parliament speaker Mohammed Bager Qalibaf, laid bare the continued volatility in the region. Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed shipping through the critical Strait of Hormuz stopped after Israel expanded Lebanon strikes. The White House announced…
MUMBAI: The Reserve Bank of India (RBI) said on Wednesday that its recent actions in the non-deliverable forward (NDF) market are temporary and aimed at curbing excessive currency speculation stemming from the West Asia conflict.The regulator, however, did not specify the duration of the operational curbs on lenders while indicating that the April 10 (Friday) deadline for banks to scale back their net open positions to $100 million would not be extended.”These measures are not in any sense signalling any structural change. We stand committed to the development, broadening and deepening of these markets and the internationalisation of rupee. So,…
Gold (XAU/USD) gives back part of its earlier gains after rising to three-week highs on Wednesday following news of a two-week ceasefire between the United States and Iran. At the time of writing, XAU/USD is trading around $4,755, up nearly 1% on the day after touching an intraday high of $4,857.US-Iran ceasefire lifts market sentimentUS President Donald Trump announced on Truth Social that he had agreed to suspend attacks on Iran for a period of two weeks, provided that Tehran ensures the “complete, immediate, and safe opening of the Strait of Hormuz.” Iran’s Foreign Minister Abbas Araghchi also stated that…
The NZD/USD pair is up 1.6% to near 0.5830 in the European trading session on Wednesday. The Kiwi pair strengthens as the New Zealand Dollar (NZD) outperforms its peers due to upbeat risk-on sentiment and hawkish remarks from the Reserve Bank of New Zealand (RBNZ) in the monetary policy announcement earlier in the day. New Zealand Dollar Price Today The table below shows the percentage change of New Zealand Dollar (NZD) against listed major currencies today. New Zealand Dollar was the strongest against the US Dollar. USDEURGBPJPYCADAUDNZDCHFUSD-0.88%-1.22%-0.81%-0.16%-1.02%-1.68%-1.16%EUR0.88%-0.35%0.06%0.72%-0.14%-0.82%-0.30%GBP1.22%0.35%0.40%1.08%0.23%-0.44%0.05%JPY0.81%-0.06%-0.40%0.66%-0.18%-0.84%-0.35%CAD0.16%-0.72%-1.08%-0.66%-0.84%-1.48%-1.01%AUD1.02%0.14%-0.23%0.18%0.84%-0.66%-0.18%NZD1.68%0.82%0.44%0.84%1.48%0.66%0.49%CHF1.16%0.30%-0.05%0.35%1.01%0.18%-0.49% The heat map shows percentage changes of major currencies against each other. The…
. | Photo Credit: Sibani Das The rupee appreciated 47 paise to close at 92.59 (provisional) against the US dollar on Wednesday after US President Donald Trump announced the suspension of military strikes against Iran for two weeks, and the Reserve Bank kept the key benchmark rate unchanged with a neutral stance.Forex traders said investor sentiment got a boost after Governor Sanjay Malhotra assured that the steps taken on forex do not constitute a structural change.Moreover, confidence was exuded in the health of the banking system, notwithstanding recent developments in some private banks. Malhotra said the banking sector regulator did…
The Indian rupee gained for the fourth consecutive session on Wednesday, while forward premiums declined as a plunge in oil prices after the U.S.-Iran ceasefire supported global risk appetite.The rupee ended at 92.58 per U.S. dollar, up 0.5% from its close of 93.0075 on Tuesday. The currency opened stronger at 92.64 and briefly moved above 92.50 during the session. The currency has gained 2.4% so far in April. The one‑year implied rate on the dollar/rupee forward fell 22 basis points to 3.08%.The benchmark Brent crude contract tumbled nearly 14% after Iran and the U.S. agreed to a two-week ceasefire and…
The USD/CAD pair extends its weekly downtrend for the third straight day and dives to a nearly two-week low on Wednesday, though it lacks follow-through selling. Spot prices trade around mid-1.3800s, down nearly 0.30% for the day, amid mixed fundamental cues.The US Dollar (USD) comes under intense selling pressure and plummets to a nearly one-month low in reaction to the optimism led by the US-Iran ceasefire. Furthermore, Iran’s Foreign Minister, Seyed Abbas Araghchi, said that safe passage through the key waterway will be possible for a period of two weeks, triggering a steep decline in Crude Oil prices. This, in…
The rupee appreciated 50 paise to 92.56 against the US dollar in early trade on Wednesday after US President Donald Trump announced suspension of military strikes against Iran for two weeks.Forex traders said the two-week ceasefire announcement triggered a wave of outsized bargain buying amongst the risk assets as Asian Stocks, Dow futures, Gold and Silver all rallied while Brent Oil fell below $100 to $96 per barrel.The rupee in accordance surged to 92.56 levels, with the RBI deadline still in place till the 10th of April (regarding squaring of positions taken overnight up to $100 million) while the RBI…