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Cryptocurrencies can lead to dollarisation of economy, RBI officials warn Parliament panel
... to the stability of the financial system of the country, as well as the potential for a medium of exchange and replacing the rupee in financial transactions both domestic and cross border. The officials told members that a portion of the economy could ... ... to 20 million investors in India with total holdings of around USD 5.34 billion. There is no official data on the size of the Indian criptocurrency market. The panel consisting of former GST council head Sushil Modi , former Union Minister Manish Tewari ...
Updated: 05/18/2022
Rupee rebounds 7paise to close to all-time low; Sensex up 2 pc
... account of Buddha Purnima . The dollar index, which gauges the strength of the dollar against a basket of six currencies, fell 0.41 per cent to 103.75. The global oil benchmark, Brent crude futures, went up 0.74 per cent to 115.09 per barrel. The Indian rupee depreciated on Tuesday due to a surge in crude oil prices and disappointing macroeconomic data. Praveen Singh , AVP Fundamental currencies and Commodities analyst Sharekhan, said that the US Dollar has softened and the risk-on sentiments in global ...
Updated: 05/17/2022
LIC shares tumble 6% in debut after record-breaking IPO
... largest-ever IPO. In April, there was a fundraising goal of around 300 billion rupees that was halved from earlier expectations after investors pushed back against lofty valuations. The initial estimates had put the value of LIC at around 17 trillion rupees. LIC is one of a string of Indian companies that have fallen sharply after listing as investors looked at potential profitability and questioned valuations. Following a US $2 billion IPO, Paytm plunged in its debut last November, at a time when India's largest is now worth not ...
Updated: 05/17/2022
Indian rupee recovers after RBI intervenes, bond yields rise
MUMBAI Reuters' The Indian rupee recovered gradually after touching a record low on Tuesday after the central bank intervened while bond yields edged higher due to the uptick in global crude oil prices. MUMBAI Reuters -- The Indian rupee recovered gradually after touching a record ...
Updated: 05/17/2022
Cryptocurrencies can lead to dollarisation of a part of economy, say RBI
... cryptocurrencies could be a bigger threat to the stability of the country's financial system, as it's possible to replace the rupee in financial transactions both domestic and cross border. The officials told members that cryptocurrencies can lead to the ... ... to 20 million investors in India, with total holdings of around $5.34 billion. There is no official data on the size of the Indian criptocurrency market. The panel of members which has former GST council head Sushil Modi, former Union Minister Manish ...
Updated: 05/15/2022
Cryptocurrency may lead to dollarisation of a part of economy, say RBI officials
... threat to the stability of the country's financial system as well as the potential for a medium of exchange and replace the rupee in financial transactions both domestic and cross border. The officials told members that cryptocurrencies may eventually ... ... 20 million investors in India, with total holdings of around USD 5.34 billion. There is no official data on the size of the Indian market for digital currency. The Sinha -led panel of members, including former GST council head Sushil Modi, former ...
Updated: 05/15/2022
FPIs net sellers continue to pull out of 25,200 cr in first fortnight of May
... bps effective May 21. The US Fed also raised rates by 50 bps on May 4, the biggest hike in two decades. There were fears that further large rate hikes are likely to come if we go ahead with these developments. This triggered a massive sell-off in the Indian equity markets by foreign investors, which continued this week, said Himanshu Srivastava , Associate Director-Manager Research, Morningstar India. FPIs have been selling on valuation concerns in India since November 2021. FPIs worry about rupee depreciation. Emerging market equity is negatively affected by the dollar appreciation. FPI flows from India will continue to be triggered by this, said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services . FPIs withdrew a ...
Updated: 05/15/2022
Cryptocurrency trading has a catch
... as Bitcoin , the largest of which by market value, and Ether and Doge coin. All trades in cryptocurrencies are recorded on the blockchain, which is free for everyone to see from any part of the world. When you invest money like the US dollar or the Indian rupee to buy these coins, you hold the assets, just electronic records until they find their value improved enough to sell them to other investors at a premium and profit. They can withdraw the cash or invest it in some other coins if they choose to do ...
Updated: 05/15/2022
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