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The Dollar Index (DXY00) has recently reached its highest level in 4-1/2 months, representing a gain of 0.48%. This increase in value was initially driven by a strong US February personal spending report released last Friday that instilled confidence in the dollar. Additionally, Federal Reserve Chair Powell’s comments on Friday, indicating a lack of urgency to lower interest rates, further supported the dollar’s rise.

On Monday, the dollar continued its ascension following the release of the March ISM manufacturing index, which exceeded expectations and signaled a hawkish stance on Fed policy. However, in contrast to this trend, the Reserve Bank of India introduced new regulations specifying that exchange-traded rupee derivative transactions should be used solely for hedging purposes.

This move by the Reserve Bank of India comes after their announcement in January that, starting April 5, exchanges would be permitted to offer forex derivative contracts involving the rupee for hedging contracted exposure. In light of these developments, viewers can gain further insights and analysis on this topic by tuning in to the latest episode of Commodities Corner hosted by Manisha Gupta and featuring Amit Pabari, Founder & Managing Director of CR Forex.

By Samantha Robertson

As a seasoned content writer at, my passion for storytelling and creativity shines through in every article I craft. With a keen eye for detail and a knack for research, I thrive on translating complex topics into engaging reads that resonate with our diverse audience. My goal is to inform, entertain, and inspire readers through thought-provoking content that leaves a lasting impact. Join me on this exciting journey as we explore the world of news together.

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