
Why gold besots RBI no more
Two consecutive quarters of low gold purchases by the Indian central bank hints it is cooling-off on gold of late
Two consecutive quarters of low gold purchases by the Indian central bank hints it is cooling-off on gold of late
The 'R' Club' led by rupee, renminbi, rouble, real, rand, riyal, rupiah & ringgit is posing serious threat to the greenback.
How China is using diplomacy to dethrone the USD and establish Renminbi as global currency
Kotak Mahindra Bank CEO says he meant a reserve currency has disproportionate power
The BIS Triennial Central Bank Survey of 2022 reports that only 1.62% of global transactions are settled in Indian rupee
The report notes that the current monetary system has repeatedly been criticised by senior policy makers, due to the stresses created outside the United States from major shifts in US monetary policy.
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
The expected annual range for USD-INR is 77-84.5 for 2023, says South Korea-based Shinhan Bank in its recently published report.
The rupee opened at 82.68 against the US dollar at the interbank foreign exchange.
The rupee touches 81.94 against the dollar. It has already depreciated 9% against the US dollar in 2022 so far.