Bitcoin, the largest cryptocurrency by market value, last rose 4.85% to $29,925, rebounding from a December 2020-low of $25,400 which it hit on Thursday
At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close
The rupee plunged by 25 paise to close at its lifetime low of 77.50 as the dollar touched a fresh two-decade high amid global risk-averse sentiment and a higher-than-expected US inflation
LONDON (Reuters) - Shares sank to a 1-1/2 year low on Thursday and the dollar hit its highest in two decades, as fears grew that fast-rising inflation will drive a sharp rise in interest rates that brings the global economy to a standstill.
LONDON (Reuters) - The dollar rose to fresh two-decade highs on Thursday as concerns that tighter monetary policies to tame surging inflation will hurt the global economy dampened risk sentiment and drove investors into the safe-haven currency.
Spot gold fell 0.2% to $1,848.15 per ounce by 0959 GMT. U.S. gold futures were down 0.2% at $1,849.20.
The consumer price index climbed 8.3% on an annual basis in April, easing from 8.5% in March but outstripping the 8.1% estimate of economists
Stablecoins are digital tokens pegged to the value of traditional assets, such as the US dollar.
(Reuters) - Gold prices clawed back from a three-month low on Wednesday as the dollar and Treasury yields weakened, ahead of key U.S. monthly inflation data that could influence the Federal Reserve's monetary policy stance and impact demand for bullion.
The rupee appreciated 17 paise to 77.17 against the US dollar in opening trade on Wednesday as the American currency retreated from its elevated levels
The dollar index, which measures the currency versus six rivals, was around flat at 103.92
Spot gold was down 0.4% at $1,845.89 per ounce by 12:50 p.m. EDT (1650 GMT), after rising as much as 0.6% earlier in the session
The dollar has risen for five straight weeks as U.S. Treasury yields have climbed on expectations the Fed will be aggressive in attempting to tamp down inflation
The hawkish stance of the US Federal Reserve has resulted in the hardening of the US bond yields with the dollar index strengthened to 20 year high
They expect better market access in countries with whom new free trade agreements have been negotiated recently
Double-digit BoP deficit seen in FY23, says Standard Chartered
The dollar was headed for a fifth winning week versus major peers as benchmark U.S. Treasury yields resumed climb having hit their highest since November 2018 in the previous session
Wall Street stocks tumbled as investors shed risky investments, worried the Fed might hike rates more this year to tame inflation
The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.03 per cent lower at 102.55.
Money markets are betting the Fed will raise rates as high as 3.6% by end-2023 to tame inflation at 40-year highs.