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The Indian rupee today slid by 45 paise, its worst singe-session drop in nearly seven weeks, to end at 61.86 against the greenback on month-end dollar demand from importers and banks amid speculation that US Fed is considering raising interest rates later this year.Dollar demand from importers, mainly oil refiners, mainly affected the rupee value against the dollar, dealers said.However, persistent ...
The Indian government on Thursday set the floor price for its sale of an up to 10 percent stake in Coal India Ltd, set to be the biggest equity offering in the local market, at a 4.5 percent discount to the stock's closing price. The government, which owns a 90 percent stake in Coal India, will raise up to $3.7 billion from the sale at the floor price. The floor price for the share auction on Friday ...
After yesterday's rebound, gold lost its sheen with prices falling by Rs 120 to Rs 28,300 per ten grams at the bullion market today owing to slackened demand at prevailing levels amid weak global cues. Silver also dropped by Rs 420 to Rs 39,100 per kg on reduced offtake by industrial units and coin makers. Traders said apart from fall in demand from jewellers and retailers at domestic markets, a ...
Gold dropped for the fourth session in five on Thursday after the Federal Reserve painted a bullish picture of the U.S. economy, signalling it was on course to lift interest rates this year.The prospect of an increase in U.S. rates makes non-interest-bearing assets such as gold less attractive and that helped pull bullion further away from a five-month peak reached last week."People are already adjusted ...
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