BRICS’ Golden Spell To Dethrone Dollar
Will the gold-backed international currency end the dominance of the U.S. dollar?
Will the gold-backed international currency end the dominance of the U.S. dollar?
Nageswaran says whenever Federal Reserve is on an aggressive tightening, this type of currency reaction happens historically. This time it is far more moderate, he adds
Day 1 of the new fiscal saw benchmark indices in the red all through the day; they closed 4% lower.
While broader indices Sensex and Nifty 50 fell over 701 and 214 points respectively in intraday trade, S&P BSE MidCap and SmallCap fell 2.15% and 2.59% to record new 52-week lows.
Profit declines 9.8% in September quarter as higher commodity prices and a weaker rupee hit demand.
Unlike importers, exporters can benefit from a depreciating rupee.