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Gold Silver Reports ~ Citibank is predicting India’s rupee will hold much of the gains from what looks set to be its best month in 2 years. The resolve shown by Prime Minister Narendra Modi in seeking to narrow the fiscal deficit to a 9-year low has boosted investor confidence and will probably support capital inflows,
Gold Silver Reports ~ EUR/USD extended sharp gains from the previous session surging to five-month highs, as foreign exchange traders continued to digest a dovish monetary policy decision from the Federal Reserve 24 hours earlier.
Gold Silver Reports – The dollar extended gains to hit a fresh three-week high against the other major currencies on Friday, as the release of strong U.S. data boosted optimism over the strength of the economy.
Gold Silver Reports – Gold prices slipped on Friday as the dollar ticked up and European share markets extended their rally but was heading for a weekly gain as buying surged via exchange traded funds.
Gold Silver Reports – Rupee pared declines from near a record low as traders said state-run lenders sold the greenback on behalf of the Reserve Bank of India.
Gold Silver Reports → The standalone credit profiles of many Indian public sector banks should come under pressure unless there is meaningful action to restore capital adequacy, says Fitch Ratings.
Gold Silver Reports → Reserve Bank of India Governor Raghuram Rajan is rebuilding the country’s foreign reserves as he sees an unavoidable slide in the rupee until the war on inflation is won.