Federal Reserve will hike the fed funds rate 25 basis points to 4.75%
After seven straight rate hikes totaling 4.25% and an eighth anticipated on Wednesday, Federal Reserve governors are preparing to halt their inflation campaign and wait for results.
Import duty on gold reduced from 12.50% to 10% (Gold Import Duty 2023)
Import duty on gold: Gold prices plunged over Rs 2,100 on Monday after the Union Finance Minister Nirmala Sitharaman announced the changes in customs import duty rate for precious metals.
Silver import duty increased from 10.75% to 15%
New Delhi, Feb 1 (GoldSilverReports) – India raised total taxes on silver imports 15% and on silver dore to 14.35%, the government said in a statement on Wednesday, in an effort to align the duty structure of the metal with gold.
KPIT Technologies Shares Volatile Post Q3 Earnings
The shares of KPIT Technologies traded between gains and losses after it clocked better-than-expected results in the third quarter ended December.
Cholamandalam Investment Rallies 9% As Q3 Net Income, Revenue Beat
Shares of Cholamandalam Investment and Finance Co. advanced 7.08% as of 10:02 am, to Rs 757 apiece in trade on Wednesday after the third-quarter net income and revenue beat analysts’ estimates.
USD/INR has come out of the woods ahead of the Indian Union Budget announcement
The USD/INR pair has delivered an upside break of the consolidation formed in a narrow range of 81.66-81.77 in the Asian session. The asset is demonstrating optimism amid a recovery move shown by the US Dollar Index (DXY) after dropping to near 101.70.