Indian state-run banks likely sold dollars to stem rupee fall – traders

Jan 4 India’s state-owned banks likely sold dollars on behalf of the Reserve Bank of India to prevent the local currency from weakening further, three FX traders told Reuters on Monday. State-owned banks were spotted selling dollars after the local currency plunged to an over two-week low of 66.50 to the dollar earlier in the session. The rupee More...

by Crish | Published 1 year ago
By Crish On Thursday, January 14th, 2016
0 Comments

Rupee falls to weakest since 2013 crisis levels

A money lender counts Indian rupee currency notes at his shop in Ahmedabad, India, May 6, 2015. The rupee fell on Thursday to its weakest since September 2013, when the country was still in the midst of its More...

By Crish On Monday, January 11th, 2016
0 Comments

China’s yuan spikes higher, but stocks tumble

China guided its yuan currency higher on Monday, and offshore it surged against the dollar, spurred by what traders called aggressive intervention by Beijing, although Chinese stocks tumbled again as doubts persisted More...

By anik On Sunday, November 29th, 2015
0 Comments

Don’t let economy slip below 6.5 pct: China’s Xi Jinping tells officials

In the most unambiguous signal yet of a slowdown in China’s economy, President Xi Jinping today ordered officials to ensure that the GDP does not slip below 6.5 per cent, putting for the first time a minimum More...

By anik On Saturday, November 28th, 2015
0 Comments

Black money: HSBC whistleblower Herve Falciani offers to ‘cooperate’ with India

Claiming that millions of crores worth illicit funds are flowing out of India, HSBC whistleblower Herve Falciani today said he is willing to “cooperate” with the Indian investigative agencies in their black More...

By nhdownyflake On Friday, July 31st, 2015
0 Comments

Eurozone inflation and unemployment hold steady in July

Inflation in the eurozone held steady in July, as falling energy prices offset rises in industrial goods. The annual inflation rate stayed at 0.2%, according to the flash estimate from the EU’s statistics More...

By nhdownyflake On Friday, July 31st, 2015
0 Comments

Swiss central bank makes 50bn Swiss franc loss

The soaring value of the Swiss franc against the euro has led Switzerland’s central bank to report a first half loss of 50bn francs (£33bn). The bank, which is owned by the Swiss federal government, said More...

By nhdownyflake On Thursday, July 30th, 2015
0 Comments

Royal Dutch Shell cuts 6,500 jobs

Oil giant Royal Dutch Shell has announced it has shed 6,500 jobs as part of cost-cutting plans as it seeks to counter falling oil prices. The job cuts comprised part of its $4bn reduction in operating costs. Shell, More...

By nhdownyflake On Thursday, July 30th, 2015
0 Comments

US economic growth picks up to 2.3%

The US economy grew at an annualised pace of 2.3% in the three months to June, official figures have shown. The figure – the first estimate of growth in the second quarter – followed an upwardly revised More...

By nhdownyflake On Wednesday, July 15th, 2015
0 Comments

Bank of Canada cuts key interest rate as economy falls into recession

  Bank of Canada Governor Stephen Poloz. The Bank of Canada cut its trend-setting interest rate to 0.5 per cent on Wednesday to help boost an economy that’s in retreat. The central bank said it believes More...