Rupee hits record low 95.31 against US dollar, down 0.9%
The Indian rupee plunged 0.9% to a record low of 95.31 against the US dollar on Monday, driven by surging crude oil prices and escalating US-Iran tensions.
The Indian rupee plunged 0.9% to a record low of 95.31 against the US dollar on Monday, driven by surging crude oil prices and escalating US-Iran tensions.
Gold futures fell to Rs 1520 per 10 grams on MCX, tracking weak global trends. Silver also declined amid strong dollar and rising bond yields.
The Indian rupee plunged 139 paise to 94.90 against the US dollar in early trade on Monday, tracking weak domestic equities and sustained foreign fund outflows.
Gold and silver are expected to trade in a narrow range this week as investors balance geopolitical risks and macroeconomic data. Silver outperforms due to supply tightness and industrial demand.
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Gold futures surged by Rs 531 to Rs 76,445 per 10 grams on the MCX, driven by strong global cues and a weaker US dollar. Silver also rose.
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Gold and silver prices are expected to continue rising with a bullish bias, according to Abhilash Koikkara of Nuvama. Key support levels for gold at 147,500 and silver at 236,000 are crucial for maintaining uptrends.
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The Indian rupee strengthened by 61 paise to close at 94.57 against the US dollar on Wednesday, driven by robust foreign fund inflows and a weak greenback.
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