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Silver, gold hit lifetime highs on weak dollar, Fed rate easing hopes

New Delhi, Jan 23 (PTI) Gold and silver prices rallied on Friday to hit fresh lifetime highs in the futures trade, tracking record gains in international markets amid a weakening US dollar and rising expectations of interest rate cuts by the Federal Reserve. On the Multi Commodity Exchange (MCX), the March contract of silver soared by Rs 12,638, or nearly 4 per cent, to scale a new peak of Rs 3,39,927 per kg. Silver futures in the previous session on Wednesday had touched a record high of Rs 3,35,521 per kg. Gold also scaled a fresh lifetime high, advancing for

RBI to inject over $23 billion of liquidity into banking system

MUMBAI, Jan 23 (Reuters) – The RBI (Reserve Bank of India) on Friday unveiled measures to inject more than $23 billion liquidity into the banking system through a combination of bond purchases, buy/sell FX swaps and repos. Under Governor Sanjay Malhotra, the RBI has stepped up liquidity injections over the past year to reinforce its rate cuts and to manage the impact RBI’s market interventions to support the rupee have on banking system liquidity. The RBI will conduct a 90-day variable rate repo (VRR) operation for 250 billion rupees ($2.7 billion) on January 30, making it the maiden 90-day cash

Rupee hits all-time low against US dollar: Aaditya targets Centre, ‘speechless’ BJP

Mumbai, Jan 23 (PTI) Shiv Sena (UBT) leader Aaditya Thackeray on Friday slammed the Union government over the rupee hitting a new low against the US dollar and said the BJP is speechless when it comes to giving an explanation on the issue. The rupee dropped to a new low and is one of the worst performing currencies in the world now, Thackeray said. “The Union Government of the BJP, and its members that once created national panic at Rs 40 against the dollar, doesn’t even bother to explain to the citizens at 91.99 against the dollar. Or simply left

Rupee hits all-time low of 92/USD, recovers marginally to settle at 91.88 against US dollar

Mumbai, Jan 23 (PTI) The rupee hit an all-time low of 92 on Friday and recovered marginally to settle at 91.88 (provisional) against the American currency, amid selling pressure from foreign funds and risk-off sentiment in global markets. Forex traders said the Indian rupee gave up early gains and hit a record low of 91.99 per US dollar in intraday trade due to weak domestic markets and persistent foreign fund outflows. Moreover, gains in crude oil prices and a surge in US treasury yields weighed on the rupee. At the interbank foreign exchange, the rupee opened at 91.45 and then

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