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Rupee boosted by stronger yuan and foreign banks’ dollar sales

MUMBAI, Feb 20 (Reuters) – The Indian rupee strengthened on Thursday aided by a rise in the Chinese yuan after U.S. President Donald Trump said a new trade deal with Beijing was possible, while dollar sales from foreign banks also aided the local unit. The rupee was up nearly 0.3% at 86.7125 as of 12:30 p.m. IST, largely in line with gains in most regional peers. The offshore yuan was up 0.2% at 7.26 which helped lift regional currencies, while the dollar index declined to 106.9. The yuan, a closely watched peer of the rupee, strengthened against the dollar as

Gold scales new high on Trump tariff concerns

Feb 20 (Reuters) – Gold prices rose to a record high on Thursday as investors turned to bullion for safety on fears U.S. President Donald Trump’s tariff plans would stoke inflation and a global trade war. Spot gold was up 0.5% at $2,945.83 an ounce, as of 0621 GMT, after hitting a record high of $2,947.11 earlier in the session. Bullion has risen 12% so far this year and hit a fresh peak for the tenth time on Trump tariff fears. U.S. gold futures gained 0.9% to $2,963.80 on Thursday. “Uncertain outlooks for both global trade and inflation are proving

Need more professional regulation of financial markets; SEBI needs total overhaul: Congress

New Delhi, Feb 20 (PTI) The Congress on Thursday stressed the need for professional regulation of financial markets with a “total overhaul” of SEBI and called for a relentless focus on global manufacturing ecosystems across the technology spectrum to carve out niches for India. Congress general secretary in-charge communications Jairam Ramesh shared a media report on X which quoted founder and director, Kotak Mahindra Bank, Uday Kotak, as saying that over-financialisation can hurt the Indian economy as investors move their savings into equities without understanding valuations. India's stock market capitalization currently stands at approximately 140 percent of its GDP. On

Gold futures rise on spot demand

New Delhi, Feb 19 (PTI) Gold prices on Wednesday rose by Rs 61 to Rs 86,174 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for April delivery traded higher by Rs 61 or 0.07 per cent at Rs 86,174 per 10 grams in a business turnover of 16,537 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said. Globally, gold futures rose 0.08 per cent to USD 2,933.54 per ounce in New York.

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