BONDS, CURRENCIES & COMMODITIES


Artha Shastry 16 July 2022
On 7th July, a front-page story in The Economic Times pointed out that almost US$268bn (billion) worth of external debt is due for repayment in the next nine months and contextualised this number as about 44% of India's foreign exchange reserves. The article opined that the rupee was clearly...

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The global cryptocurrency market lost at least $670 million in the April-June quarter (Q2), and 97 per cent of the losses were due to hacks and scams, a report said on Thursday.   The crypto losses in the second quarter were up 52 per cent from $440 million in the same period last...

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The Reserve Bank of India (RBI) on Wednesday announced a series of measures to boost foreign exchange (forex) inflows.   The central bank said that it has taken the steps in order to further diversify and expand the sources of forex funding to mitigate volatility and dampen global...

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A few firms, including CoinSwitch and CoinDCX dealing in crypto-currency have been asked by the enforcement directorate (ED) to submit some documents in connection with an ongoing case of the Foreign Exchange Management Act (FEMA).   The ED is trying to ascertain whether these firms...

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The US Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against a South African company and its CEO (chief executive officer) for running a fraudulent commodity pool worth over US$1.7bn (billion) in Bitcoin—the largest  fraudulent scheme involving Bitcoin...

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The crypto winter hammered cryptocurrencies on Monday as the price of a single Bitcoin fell sharply to around $25,600, an 18-month low.   The world's largest cryptocurrency further tanked 7 per cent over fears of risk-off sentiment due to a sharp rise in inflation globally, especially...

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The shocking implosion of the TerraUSD and Luna crypto-currencies (crypto) threw many young investors into a panic, some of them saying their entire assets were blown up or even leaving suicidal messages.   In a crash starting a week earlier, the once bullish TerraUSD and sister coin...

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The global crypto mayhem last week wiped out Bitcoin worth $3.5 billion -- created to defend and support the TerraUSD (UST) stablecoin which saw a total crash -- and no one has any idea how such a large sum of funds disappeared.   Nearly 80,394 Bitcoin worth $3.5 billion were...

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Leading crypto exchange Coinbase suffered a major outage amid crypto mayhem especially with the cryptocurrency Terra Luna, heightening fears among the investors.   The company said it was actively working on the issue.   "We are aware that some customers are having issues...

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The dramatic crash of Terra (Luna), ranked among the top-10 most valuable cryptocurrencies, has wreaked havoc in the lives of investors who fear they will become homeless after the crypto mayhem.   Within the past 24 hours, its market-cap dropped from above US$40bn (billion) to just...

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Moneylife Digital Team 11 May 2022
NASDAQ-listed Coinbase’s chief executive officer (CEO) Brian Armstrong has revealed that its services in India had to be halted because “after launching, we ended up disabling unified payments interface (UPI) because of some informal pressure from the Reserve Bank of India (RBI), which is...

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The global cryptocurrency market entered its worst phase ever on Tuesday, with Bitcoin dropping below $30,000 per coin and leaving millions of investors in a panic mode.   The overall global cryptocurrency market dropped 13 per cent, and was hovering around $1.37 trillion market cap,...

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The Indian rupee extended its losses and touched an all-time low of 77.42 against the US dollar in early trade on Monday.   The Indian currency is weighed by the strength of the American currency in the overseas market and continued foreign fund outflows. Further, rupee slipped on...

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The monthly average retail price of wheat flour (atta) has risen nearly in the past one year period to Rs 32.3 per kg. The current prices are the highest since January 2010.   At the same time last year, its average price was at Rs 29.1, as per the data maintained by the Price...

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Moneylife Digital Team 17 March 2022
The conflict between Russia and Ukraine is disrupting supplies of agricultural commodities and, while it creates an opportunity for exports, it is also set to have an adverse impact on India's import bill due to higher prices, says a research report.   In the note, CRISIL Ratings...

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The Russian-Ukrainian crisis is expected to keep non-ferrous metal prices high in the near future.   The crisis has triggered shortages of these industrial metals which in turn have led to massive spike in their prices.   Till now, international prices of aluminium, copper,...

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Energy and commodity prices-including wheat and other grains-have surged due to the war in Ukraine, adding to inflationary pressures from supply chain disruptions and the rebound from the Covid-19 pandemic, the IMF has said.   Price shocks will have an impact worldwide, especially on...

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High commodity prices as well as outflow of foreign funds from equity markets dragged Indian rupee to a new record low against the US Dollar.   Accordingly, rising prices of crude oil along with other commodities triggered by the Russia-Ukraine war had kept a weak pressure on the...

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Russias credit ratings have been downgraded deep into the 'junk' territory by Moodys Investors Service and Fitch Ratings, with the duo highlighting the economic toll inflicted by wide-ranging sanctions and rising doubts about whether Moscow will honour its debts, The Wall Street Journal...

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Moneylife Digital Team/ IANS 24 February 2022
Brent-indexed crude oil prices climbed above US$100 a barrel for the first time since 2014 after Russia declared war on Ukraine. On Thursday, Russian President Vladimir Putin announced a military operation in Ukraine. Besides, crude oil prices surged by 5.50%, near US$97.22 per...

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