EUR/USD
1.15362
-0.028%
Gold
4992.93
-0.264%
Oil
94.167
-1.105%
USD/JPY
158.946
-0.030%
GBP/USD
1.33554
0.002%
GBP/JPY
212.286
0.035%
Real-time News
March 18th - The Reserve Bank of Indias (RBI) recent measures to protect the rupee exchange rate are putting pressure on the countrys foreign exchange reserves, prompting some analysts to suggest reducing future intervention. Indias foreign exchange reserves (excluding gold) are currently only enough to support 8.7 months of import demand, the lowest level in three years. This comes at a time when India faces rising import bills due to energy prices, impacting its economy and markets. Yes Banks chief economist, Indrani Pan, stated that the more the RBI intervenes, the less firepower it has left, and this could trigger further problems if the ongoing crisis in the Middle East continues to escalate. For the external sector, the only shock absorber is the exchange rate itself. The RBI does need to show greater flexibility in allowing the rupee to depreciate. ANZs foreign exchange strategist, Diraj Niem, said that if fundamentals have permanently changed, maintaining the rupee at a certain level could quickly become very difficult. The RBI can allow the rupee to adjust further before foreign exchange reserve levels become an issue.The final figures for the Eurozones February CPI year-on-year and month-on-month rates will be released in ten minutes.British government: Chancellor of the Exchequer Reeves facilitated a £240 million investment from Exoron during his visit to Madrid.Market news: Iran launched missiles at Haifa and surrounding areas in Israel.March 18 - Iranian intelligence has reportedly arrested four spies working for the United States in Khuzestan and West Azerbaijan provinces.
