Rupee Extends Losses, Hits Fresh 13-Month Low

Gold Silver Reports (GSR) – Rupee Extends Losses, Hits Fresh 13-Month Low – Rupee extended decline against the U.S. dollar to hit fresh 13-month low. The local unit fell as much as 38 paise or 0.58 percent to 66.77 per U.S. dollar.             

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Rupee Expected To Open Lower Around 66.15 Per Dollar

Gold Silver Reports (GSR) – Rupee Expected To Open Lower Around 66.15 Per Dollar — India government bonds were supported on Friday by a category of investors classified as “others” which bought a record amount of debt. Now other categories include the central bank itself and also insurance companies.       

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Did Demonetisation Change India’s Cash Habits?

Did Demonetisation Change India’s Cash Habits?

Gold Silver Reports (GSR) – Did Demonetisation Change India’s Cash Habits? — Currency in circulation stood at Rs 18.4 lakh crore as on April 6, 2018. In absolute terms, this is above the Rs 17.98 lakh crore in currency that existed before demonetisation.

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Government Steps Up Currency Notes Printing Amid Cash Crunch

Gold Silver Reports (GSR) – Government Steps Up Currency Notes Printing Amid Cash Crunch — There is a spurt in currency demand, Economic Affairs Secretary Subhash Garg told reporters today. Additional cash is being supplied to meet the demand and Rs 500 currency notes worth Rs 2,500 crore are being printed every day, he added. That adds up to Rs 70,000-75,000 crore worth of notes in a month. Banking Secretary Rajiv Kumar had indicated earlier in the day that there is a shortage of Rs 500 notes in the system which will remain for five to seven days.

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Asia Stocks Rise as Earnings Eyed

Gold Silver Reports (GSR) – Asia Stocks Rise as Earnings Eyed – Equity markets in Japan and Australia eked out feeble gains in a muted start, while Hong Kong stocks pointed higher. Futures on the S&P 500 Index climbed. The S&P 500 Index gained to the highest in almost a month and erased its loss for the year as investors turned their focus to the earnings season after there was no immediate reprisal to the U.S.-led missile strike in Syria and trade concerns took a back seat.

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