Equity, bonds, precious metals, commodities, real estate, currency, and alternatives are the seven asset classes that can help diversify portfolios. While immense wealth can be created through concentration, it is not a rule and diversifying investments is the best way to protect and grow money. Weighing the odds: Wealth-creation through concentration or diversification? Jun 7, 2023, 01:23PM IST.The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. RBI's gold reserve up over 40% in five years Jun 7, 2023, 06:47PM IST.RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes. RuPay forex cards to be issued soon can be used at overseas ATMs, PoS machines, online merchants Jun 8, 2023, 10:55AM IST.In recent months, there have been a number of instances of forex scams when con artists entice the public with the promise of substantial returns on investments in a short amount of time. RBI issues fresh list of unauthorised forex trading platforms How to check authorised list Jun 8, 2023, 12:46PM IST.Meanwhile, Brent crude futures rose 0.38% to $76.25 per barrel, while the dollar index rose 0.19% to 103.54. The RBI left interest rates unchanged at 6.5% on Thursday, while foreign institutional investors were buyers in capital markets, purchasing shares worth Rs 212.40 crore, according to exchange data. The rupee opened at 82.49 and hit a low of 82.50 through the day. The rupee gained 4 paise to close at 82.47 against the dollar amid foreign fund inflows, though a strong dollar and weak domestic equities limited gains. Rupee rises 4 paise to close at 82.47 against US dollar Jun 9, 2023, 03:55PM IST.India's foreign currency assets, the biggest component of the forex reserves, rose by $5.270 billion to $526.201 billion. Snapping a two-week falling streak, India's foreign exchange reserves saw a rise of $5.929 billion and stood at $595.067 billion as on June 2, 2023, as per Reserve Bank of India data. India's forex reserves up $5.9 billion to $595.1 billion as on June 2 Jun 9, 2023, 05:18PM IST. ![]() The dollar index stood firm close to over a two-month high hit on Wednesday. The probability of a rate hike by the Fed dropped to about 38% from 67% seen earlier this week. Federal Reserve policymakers that indicated that they were not in favour of raising rates in June. The rupee was also helped by comments from two U.S. The string of positives for the rupee has prompted USD/INR long positions to lose patience, a sales person at a private bank said. India's economic growth accelerated to 6.1% in the March quarter, higher than what economists had expected, confirming that the country remains one of the fastest growing emerging economies.Īdding to strong growth numbers, India's factory output expanded at the quickest pace since October 2020 in May, thanks to strong demand and output, a private survey showed. ![]() The USD/INR, though, is expected to see strong support around the 82.30 zone, Parmar said. On Thursday, the rupee rose 0.38%, to mark its best day since April 5.Ĭonsistent flows into equities coupled with strong economic data is supporting the rupee, said Dilip Parmar, a research analyst at HDFC Securities. dollar, compared to 82.7225 on Wednesday, after touching 82.3675 during the session, its highest since May 18. The rupee closed at 82.405 against the U.S. MUMBAI, June 1 (Reuters) - The Indian rupee saw its best single-day gain in two months on Thursday, and also rose to a two-week high during the session, following strong domestic growth data, which prompted traders to square off long dollar positions.
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