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The rupee fell 7 paise to trade at 84.47 against the US dollar in early trade on Thursday weighed down by a muted trend in domestic equities and strength of the American currency in the overseas markets. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the latest <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords">Federal Open Market Committee</keyword> (FOMC) minutes reveal a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar. "The 84.50 level remains a strong support for the USD/INR pair. <keyword id="23456490" type="General" weightage="20" keywordseo="RBI-interventions" source="keywords">RBI interventions</keyword>, coupled with anticipated capital inflows -- such as Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 million capital raise -- are expected to support the rupee further," CR Forex Advisors MD Amit Pabari said. Pabari further added that the USD/INR pair is likely to encounter resistance near the 84.50 mark, with expectations of trading within the 83.80 to 84.50 range, showing a slight downward bias. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.14 per cent at 106.22. Brent crude, the global oil benchmark, fell 0.18 per cent to USD 72.70 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 68.21 points or 0.09 per cent to 80,302.29 in morning trade, while Nifty was up 34.20 points or 0.14 per cent to 24,309.10 points. Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self"></a> <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Rupee falls 7 paise to 84.47 against US dollar in early trade

Mumbai: The rupee fell sharply by 15 paise against the US dollar to 83.44 in early trade on Wednesday amid muted trends in the domestic equity markets. However, a decline in the dollar index and a marginal fall in the Brent crude index prevented further losses in the domestic unit, according to experts. At the interbank foreign exchange, the local unit opened at 84.38 -- down 9 paise from its previous close -- and then slid further to 84.44, registering a decline of 15 paise from its previous close. On Tuesday, the rupee pared its intra-day losses to settle flat at 84.29 against the US dollar. "The <keyword id="24182640" type="General" weightage="20" keywordseo="Indian-banking-liquidity" source="keywords">Indian banking liquidity</keyword> fell into deficit as industry players paid Rs 1.6-1.8 lakh crore as GST payment. This was after two months that liquidity has fallen into a deficit as the RBI also intervened into forex markets to defend the rupee weighing on liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said. "The rupee may be in the broad range of 84.00 to 84.50 in the near term as markets await a slew of data from the US this evening," Bhansali added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was down 0.15 per cent to 106.84. Brent crude, the global oil benchmark, was marginally down 0.10 per cent to USD 72.74 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex was trading 46.69 points lower, or 0.06 per cent, at 79,957.57 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net buyers in the capital markets on Tuesday, purchasing shares worth Rs 1,157.70 crore, according to exchange data.

Rupee falls 15 paise to 83.44 against US dollar in early trade

Rupee appreciated 7 paise to 84.22 against the US dollar in morning trade on Tuesday, on a sharp rebound in domestic equities amid improved investor risk appetite. Forex traders said the <keyword id="21663515" type="General" weightage="20" keywordseo="MSCI-equity-index" source="keywords">MSCI equity index</keyword> rebalancing significantly boosted sentiment for Indian equity markets as <keyword id="19932515" type="General" weightage="20" keywordseo="foreign-institutional-investors" source="keywords">foreign institutional investors</keyword> broke a 40-session streak of net selling by purchasing Rs 9,947 crores on Monday, lending robust support to the rupee. Moreover, the win by the incumbent government in Maharashtra, further fueled investor confidence in economic stability, sparking a rally in equity markets. At the interbank foreign exchange, the rupee opened at 84.27 and moved in a tight range and touched an early high of 84.22 against the greenback, registering a gain of 7 paise over its previous close. On Monday, the rupee appreciated 12 paise to close at 84.29 against US dollar. "While Donald Trump's aggressive trade policies loom large, the rupee's outlook remains cautiously optimistic. The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s projection of a GDP growth rebound to 7.6 per cent in Q3 has infused fresh confidence in India's economic trajectory. Additionally, a surge in capital inflows is likely to provide robust support," CR Forex Advisors MD Amit Pabari said. Pabari further said that the RBI's vigilant stance will be critical in managing volatility, with interventions likely at key levels to maintain stability. "Given the factors, the USDINR pair appears to face resistance around the 84.50 level, with expectations of trading within a range of 83.80 to 84.50, leaning toward a downside bias," he said. On the global front, US Treasury Secretary nominee Scott Bessent's fiscal deficit reduction agenda capped US Treasury yields, Pabari said. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.28 per cent at 107.11. Brent crude, the global oil benchmark, rose by 0.33 per cent to USD 73.25 per barrel in futures trade. In the domestic equity market, the 30-share equity benchmark Sensex jumped 167.76 points or 0.21 per cent to 80,277.61 points in early trade, while Nifty jumped 55.80 points or 0.23 per cent to 24,277.70 points. Foreign Institutional Investors (FIIs) turned net buyers in the capital markets on Monday, purchasing shares worth Rs 9,947.55 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-open-oxygenos-15-update-now-rolling-out-with-flux-themes-improved-ai-features-and-more/articleshow/115657313.cms" target="_blank">OnePlus Open OxygenOS 15 update now rolling out with Flux Themes, improved AI features and more</a><a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/microsofts-ai-powered-recall-feature-is-now-rolling-out-to-copilot-pcs/articleshow/115654136.cms" target="_blank">Microsoft’s AI-powered Recall feature is now rolling out to Copilot+ PCs</a><a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/jio-airtel-and-vi-lost-nearly-11-million-subscribers-in-september-2024/articleshow/115565541.cms" target="_blank">Jio, Airtel and Vi lost nearly 11 million subscribers in September 2024</a>

Rupee rises 7 paise to 84.22 against US dollar in early trade

The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals. Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain. At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close. On Monday, the rupee recovered from its lowest level of 84.46 to settle 4 paise higher at 84.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.09 per cent at 106.10. Brent crude, the global oil benchmark, rose by 0.19 per cent to USD 73.44 per barrel in futures trade. On the domestic equity market front, Sensex was trading 271.42 points, or 0.35 per cent higher, at 77,610.43 points. The Nifty advanced 105.55 points, or 0.45 per cent, to 23,559.35 points. <keyword id="19932515" type="General" weightage="20" keywordseo="Foreign-Institutional-Investors" source="keywords">Foreign Institutional Investors</keyword> (FIIs) were net sellers in the capital markets on Monday, as they offloaded shares worth Rs 1,403.40 crore, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/tata-to-buy-a-majority-stake-in-pegatrons-iphone-plant-in-india/articleshow/115414852.cms" target="_blank">Tata to buy a majority stake in Pegatron's iPhone plant in India</a><a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ntpc-green-energy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115403791.cms" target="_blank">NTPC Green Energy IPO – GMP, risk factors and all you need to know</a><a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank"></a> <a href="https://www.businessinsider.in/entertainment/news/jiostar-announces-plans-starting-at-15-heres-everything-you-need-to-know/articleshow/115326701.cms" target="_blank">JioStar announces plans starting at ₹15 – here’s everything you need to know</a>

Rupee rises 2 paise to 84.40 against US dollar in early trade

Mumbai: The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent <keyword id="20520117" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="keywords">foreign fund outflows</keyword> and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) continues to sell the dollars to protect the sharp depreciation. "For the 5th consecutive week, India's forex reserves declined, possibly due to RBI selling the dollars. Currently, the forex reserves of India stand at USD 682 billion down from the recent all-time high of USD 704 billion," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.04 per cent at 105.98. Brent crude, the global oil benchmark, rose 0.25 per cent to USD 72.07 per barrel in futures trade. On the domestic equity market front, Sensex was trading 210.66 points, or 0.27 per cent lower, to 78,464.52 points. The Nifty fell 100.45 points, or 0.42 per cent, to 23,783.00 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,024.31 crore, according to exchange data. On the macroeconomic front, retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices. Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. India's industrial production expanded by 3.1 per cent in September after recording a contraction in the preceding month, as all three major segments -- mining, manufacturing, and power generation -- showed improvement. However, the growth in the Index of Industrial Production (IIP) during the month was lower than 6.4 per cent registered in September 2023.

Rupee falls 1 paisa to all-time low of 84.40 against US dollar in early trade

New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> has proposed allowing Real Estate Investment Trusts (<keyword id="20186402" type="General" weightage="20" keywordseo="REITs" source="keywords">REITs</keyword>), Small and Medium REITs (SM REITs) and Infrastructure Investment Trusts (<keyword id="20186403" type="General" weightage="20" keywordseo="InvITs" source="keywords">InvITs</keyword>) to use <keyword id="21737868" type="General" weightage="20" keywordseo="interest-rate-derivatives" source="keywords">interest rate derivatives</keyword> for <keyword id="23778373" type="General" weightage="20" keywordseo="hedging-risk" source="keywords">hedging risk</keyword>. Also, the regulator has suggested approving locked-in units for REITs and InvITs to be transferred among sponsors and their groups, similar to rules for promoters in listed companies, to help sponsors manage their holdings without compromising "skin in the game". Additionally, Sebi has suggested permitting fixed deposits to be considered as cash equivalents when calculating leverage for REITs and InvITs, clarifying credit rating requirements for REIT and InvIT borrowings, and setting a timeline for filling vacancies on their boards and expanding the asset base for REITs and SM REITs. The regulator has also proposed to permit REITs to invest in liquid mutual funds. It has suggested measures to facilitate ease of doing business for REITs and InvITs, along with investors' protection. According to its consultation paper, Sebi is considering allowing REITs and InvITs to hedge against interest rate fluctuations by using derivatives like interest rate swaps. This could help stabilise cash flows, reduce risks, and protect unitholder interests, especially for long-term infrastructure projects. It is also proposed to define "Common Infrastructure" for REIT regulations. To enhance business flexibility for REITs, it has been proposed to clarify that facilities like power plants, heating/cooling systems, water treatment, and waste treatment plants -- serving one or more REIT assets -- will qualify as "common infrastructure" under REIT rules. This applies even if these facilities are not located within a single project due to their technical requirements. These facilities should supply and be used exclusively by REIT assets. For power plants, however, any excess power can be sold to the state utility/grid as per regulations, with any credits or payments going towards the benefit of REIT assets. To improve transparency, it has been proposed to amend the governance norms for quarterly reporting of InvITs. Currently, quarterly results for the investment manager and its business segments are presented to the investment manager's board, but there is no direct requirement for InvITs to report their performance. The proposed amendment would clarify that quarterly results should specifically reflect the performance of the InvITs themselves, not just the investment managers. This change aligns InvIT regulations with REIT regulations, where the focus is on the quarterly results of the REIT itself. Also, it has been suggested to align the composition of NRCs in REIT and InvIT managers with listed companies under the LODR regulations. Currently, all NRC members for REITs and InvITs must be independent directors. The proposal allows a mix of independent and non-executive directors, similar to listed companies. To enhance investors' protection, Sebi has suggested reviewing conditions for InvITs to borrow beyond the 49 per cent limit, assessing REIT investments in unlisted equity shares and outlining the roles and responsibilities of trustees for REITs, InvITs, and SM REITs. In a separate consultation paper, the regulator has proposed a regulatory framework for "restricted return InvITs" to provide infrastructure investors with predictable returns by setting limits on both upside gains and downside protection. The proposed framework for restricted return InvITs is designed to provide investors with structured returns, capped at both minimum and maximum levels to offer stability. Restricted return InvITs would include downside protection -- a minimum assured return -- and/or an upside restriction, a cap on returns -- depending on the arrangement. These investments would be limited to sophisticated investors who meet high minimum investment thresholds, with each unit priced at a minimum of Rs 500 crore and total InvIT assets of at least Rs 50,000 crore. Investors would be required to sign a waiver and undertaking form, acknowledging their understanding of the structured returns and risks involved, including the transfer of any excess returns to the sponsors. This waiver should be submitted before purchase in both primary and secondary markets, with compliance overseen by merchant bankers or brokers. The Securities and Exchange Board of India (Sebi) has sought public comments on both consultation papers by November 13.

Sebi proposes to allow InvITs, REITs, SM REITs to use interest rate derivatives for hedging risk

<ul class="summary-list"><li>Abaxx is a new commodities exchange that aims to stabilize prices and aid the energy transition.</li><li>"Trade and network keeps the world at peace," Abaxx's CEO told BI.</li></ul>The race to clean-up the global economy is on.Investment in the <a target="_blank" class="" href="https://www.businessinsider.com/us-renewable-energy-transition-solar-electric-vehicles-hit-records-2024-2">energy transition</a> — a broad shift from fossil-based energy production systems to renewable resources like wind and solar power — hit $1.8 billion in 2023, with countries like China and the United States leading the charge, according to BloombergNEF, an energy research company. The International Energy Agency says total investment in clean energy could reach $2 trillion by the end of the year.But the shift to a cleaner, lower-carbon world doesn't depend solely on the work of government officials, legislators, or even major businesses. It also hinges on players working behind the scenes to secure the prices of key commodities like liquefied natural gas, essential for electricity generation and heating, and <a target="_blank" class="" href="https://www.businessinsider.com/fund-carbon-removal-corporates-avoid-bad-credits-2023-2">carbon offsets</a>, which help companies counteract the impact of their carbon emissions.A new Singapore-based commodities exchange called Abaxx, which launched in June, is working to do that by providing companies, governments, and project developers with a transparent marketplace for their trades. Commodities markets help stabilize prices by helping suppliers and consumers figure out fair prices, hedge against volatile price changes, and execute efficient and transparent transactions.Exchanges like Abaxx play a role in this because they help lock in prices and mitigate drastic fluctuations in the future. Abaxx deals in futures contracts, legally binding agreements to buy or sell commodities at a specified future date. Three regionally deliverable liquified natural gas contracts and two carbon offset contracts are already trading on the exchange. It's working on launching futures contracts for gold and battery metals, like lithium, a component in <a target="_blank" class="" href="https://www.businessinsider.com/elon-musk-tesla-cheaper-electric-vehicle-battery-technology-lithium-shift-2023-3">batteries that power EVs like Tesla</a>.Josh Crumb, the CEO and founder of Abaxx, says unclear pricing can lead to higher and more volatile prices for consumers while also forcing commodity producers to navigate turbulent investment cycles."If we look at the battery supply chain, nickel sulfate, lithium, cobalt, these things have gone through huge swings of boom and bust over the last couple of years," Crumb told Business Insider. "The main reason why is we don't have a lot of market transparency so that people can forward plan, price, hedge, all of that."Crumb first realized that the commodity industry needed more innovation when he was working as a <a target="_blank" class="" href="https://www.businessinsider.com/rip-goldman-sachs-wall-street-investment-bank-dead-2023-11">strategist at Goldman Sachs</a> in the years following the 2008 financial crisis. That coincided with the end of the commodities boom of the 2000s, during which the prices of many commodities, from food to oil to chemicals, had drastically surged.Now, with trading in full swing, Crumb hopes Abaxx will play a role in stabilizing what he sees as the next commodity investment cycle — marked not just by a need for new commodities to facilitate the energy transition but also a surge in electrification."When people speak of the energy transition to a lower carbon economy, they are usually speaking of replacing internal combustion engines with electric vehicles, with electricity supplied by low carbon renewables, hydro, and nuclear power. This will lead to a dramatic increase in electricity consumption," a representative for Crumb wrote to Business Insider by email. Between 2022 and 2050, global electricity generation is expected to surge at a faster rate than it did over the past decade, according to a report from the International Energy Agency.Most importantly, though, exchanges like Abaxx could play a critical role in geopolitics, Crumb said. "You want more transparency; you want more markets because we think that leads to more peace," he said. "We think trade and networks keeps the world at peace."

Founder of new commodities exchange explains how it can fuel the green energy transition

<ul class="summary-list"><li>Viktor Bout is brokering weapons sales to Iran-backed Houthis in Yemen, per The Wall Street Journal.</li><li>Bout was released in a prisoner swap for Brittney Griner after a decade in US custody.</li></ul>The <a target="_blank" class="" href="https://www.businessinsider.com/viktor-bout-convicted-arms-dealer-russian-prison-swap-brittney-griner-2022-8">notorious Russian arms dealer</a>, who was <a target="_blank" class="" href="https://www.businessinsider.com/merchant-death-viktor-bout-arms-dealer-russia-politics-britney-griner-2023-9">exchanged for US basketball star Brittney Griner</a> two years ago, is trying to sell weapons to the Iran-backed Houthis in Yemen, <a target="_blank" class="" href="https://www.wsj.com/world/russia/putins-merchant-of-death-is-back-in-the-arms-business-this-time-selling-to-the-houthis-10b7f521">according to The Wall Street Journal.</a><a target="_blank" class="" href="https://www.businessinsider.com/viktor-bout-convicted-arms-dealer-russian-prison-swap-brittney-griner-2022-8">Viktor Bout,</a> sometimes dubbed the "Merchant of Death," was arrested in a US sting operation in 2008, having spent decades smuggling Soviet-made weapons from Europe to the Middle East and Africa.He was later convicted on multiple charges, including conspiracy to kill American citizens and officials and delivery of anti-aircraft missiles.After serving a decade in US custody, he was released in 2022 as part of a <a target="_blank" class="" href="https://www.businessinsider.com/what-viktor-bout-brittney-griner-during-prisoner-swap-exchange-report-2022-12">high-profile prisoner swap</a> for Griner, who had been detained in Russia after bringing a small amount of <a target="_blank" class="" href="https://www.businessinsider.com/brittney-griner-had-a-prescription-for-medical-marijuana-lawyers-say-2022-7">cannabis oil</a> into the country.Following his release, Bout appeared to have shifted his focus to politics, <a target="_blank" class="" href="https://www.businessinsider.com/viktor-bout-joins-far-right-russian-party-could-run-for-parliament-2022-12">joining a pro-Kremlin ultranationalist party</a> and winning a local assembly seat.However, according to the Journal, he is back in the business of brokering arms deals — <a target="_blank" class="" href="https://www.businessinsider.com/pentagon-fears-russias-viktor-bout-could-restart-old-arms-business-2022-12">a fear that Pentagon officials expressed</a> just days after his release.Citing sources familiar with the matter, including a European security official, the Journal reported that Bout was present at a negotiation in Moscow in August, in which the Houthis sought to negotiate the purchase of $10 million worth of automatic weapons.The sources told the publication that two Houthi representatives had traveled to Moscow under the cover of buying vehicles and pesticides.They told the Journal that they did not know if the deal was being negotiated on behalf of the Kremlin or just with its quiet support.The Kremlin did not immediately respond to a request for comment from Business Insider.According to the people familiar with the matter speaking to the Journal, the deliveries, mostly of <a target="_blank" class="" href="https://www.businessinsider.com/american-sniper-in-ukraine-prefer-soviet-rifles-easier-get-bullets-2024-4">AK-74s</a>, could start as early as October under the cover of food supplies.Houthi rebels have repeatedly attacked commercial shipping in the Red Sea since last year, though some attacks have targeted Israeli and <a target="_blank" class="" href="https://www.businessinsider.com/houthi-rebels-say-downed-30m-reaper-drone-yemen-eighth-loss-2024-9">US military vessels</a>.The US and Western allies launched counterattacks to thwart these efforts, which have had major economic implications.According to an April Defense Intelligence Agency <a target="_blank" class="" href="https://www.dia.mil/Portals/110/Images/News/Military_Powers_Publications/YEM_Houthi-Attacks-Pressuring-International-Trade.pdf">report</a>, container shipping through the Red Sea has declined massively, alternative shipping routes are increasing voyage costs, and insurance premiums for Red Sea transits have spiked."Currently, we are seeing premiums as high as 2% on vessel value for a single Red Sea transit amid fluctuating insurer appetite," Louise Nevill, UK CEO, marine, cargo &amp; logistics, with broker Marsh, told <a target="_blank" class="" href="https://www.reuters.com/world/middle-east/red-sea-insurance-costs-soar-houthi-shipping-threats-loom-sources-say-2024-09-19/">Reuters</a> earlier this month. That's compared to a figure 0.7% just weeks earlier.In January, US Secretary of State Antony Blinken <a target="_blank" rel="" href="https://www.state.gov/secretary-antony-j-blinken-remarks-to-the-press-20/">told reporters at a press conference</a> that the Houthis' attacks on international shipping are "a threat to everyone."The Houthis have also launched drones and <a target="_blank" class="" href="https://www.businessinsider.com/houthi-missile-israel-air-defense-system-iran-2024-9">missiles at Israel</a>, which they say is in support of Palestinians in Gaza.For months, <a target="_blank" class="" href="https://www.businessinsider.com/russia-may-arm-houthi-rebels-anti-ship-missiles-us-intel-2024-7">US intelligence agencies have warned</a> that Russia might <a target="_blank" class="" href="https://www.businessinsider.com/iran-helping-houthis-try-secure-russia-ship-missiles-red-sea-2024-9">arm Houthi rebels with anti-ship missiles</a> in retaliation for US support for Ukraine, <a target="_blank" class="" href="https://www.wsj.com/world/middle-east/u-s-launches-effort-to-stop-russia-from-arming-houthis-with-antiship-missiles-98131a8a">according to the Journal.</a>"These attacks are having a real effect on the prices that people have to pay for food, for medicine, for energy," Blinken said. "Ships have to get diverted to other places, insurance rates go up, and the basic principle of freedom of navigation is what's at stake."While the weapons deal reportedly orchestrated by Viktor Bout does not involve anti-ship missiles, it would still represent a notable Russian intervention in the ongoing Red Sea crisis.

The Russian arms dealer who was exchanged for Brittney Griner is trying to sell weapons to the Houthis: report

<keyword id="19895282" type="General" weightage="20" keywordseo="Mumbai" source="keywords">Mumbai</keyword>: Rupee traded in a narrow range in morning trade on Thursday, as the support from positive <keyword id="20024980" type="General" weightage="20" keywordseo="domestic-equities" source="keywords">domestic equities</keyword> was negated by relentless <keyword id="20024981" type="General" weightage="20" keywordseo="dollar-demand" source="keywords">dollar demand</keyword> from importers. At the <keyword id="20520118" type="General" weightage="20" keywordseo="interbank-foreign-exchange-market" source="keywords">interbank foreign exchange market</keyword>, the local unit opened at 83.93 and fell to 83.95, registering a loss of 5 paise from its previous close. On Wednesday, the Indian rupee fell 13 paise to 83.90 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword>. "The rupee's ongoing decline has been fuelled by a growing trade deficit and relentless dollar demand from importers, placing it under significant pressure," CR Forex Advisors MD Amit Pabari said. Pabari further noted that "the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> is expected to step in to prevent the rupee from breaching the critical 84.00 threshold. The market anticipates that the central bank might sell USD to maintain stability. Additionally, the recent dip in crude oil prices to around USD 75.48 per barrel could offer the rupee some much-needed relief." Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.17 per cent to 101.21 points. Brent crude, the global oil benchmark, was 0.01 per cent up at USD 76.06 per barrel in futures trade, Meanwhile, the Federal Reserve's recent meeting minutes revealed that most officials are inclined towards a rate cut in September, provided inflation continues to cool. This has increased the likelihood of a Fed rate cut, putting downward pressure on the US dollar and offering some support to the rupee. Now, all eyes will turn to the Jackson Hole symposium, where Fed Chair Jerome Powell's remarks could set the tone for global currency markets, Pabari said. In the domestic equity market, the 30-share BSE Sensex gained 166.66 points, or 0.21 per cent, to 81,071.96 points, while the Nifty increased by 55.10 points, or 0.22 per cent, to 24,825.30 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Wednesday as they offloaded shares worth Rs 799.74 crore, according to exchange data.

Rupee trades in narrow range against US dollar in early trade

<ul class="summary-list"><li>Moscow adopted the yuan-to-ruble exchange rate as benchmark after the US expanded sanctions against it.</li><li>The US sanctions forced the Moscow Exchange to end dollar and euro trading, causing market confusion.</li></ul>Moscow is adopting the Chinese yuan-to-ruble exchange rate as its benchmark currency pair after the US expanded sanctions against <a target="_blank" href="https://home.treasury.gov/news/press-releases/jy2404">Russia on Wednesday,</a> the country's central bank said on Thursday.The new restrictions target any global financial institution processing transactions with Russia. They also take aim at investments in Russian stock exchanges.The new US sanctions prompted the <a target="_blank" href="https://markets.businessinsider.com/news/currencies/russia-dollar-ruble-exchange-us-sanctions-currency-yuan-ukraine-war-2024-6">Moscow Exchange</a> to end dollar and euro trading on Thursday, causing confusion — since the <a target="_blank" href="https://www.reuters.com/markets/currencies/rouble-swings-opaque-trading-territory-after-new-us-sanctions-2024-06-13/">exchange rate is now opaque.</a> Some lenders in Russia stopped selling US dollars altogether, while the dollar-ruble rate spiked at some local banks.Russia's central bank appeared to seek to calm the market in a statement on Thursday. It said the role of the dollar and the euro has declined "consistently" in the last two years, according to <a target="_blank" href="https://tass.com/economy/1803093">TASS, the state news agency.</a>The <a target="_blank" href="https://quote.rbc.ru/news/article/666a7d259a7947b3f1316ca0?from=newsfeed">central bank added in its statement</a> to Russia's RBC News that the yuan has become "the main currency" on the Moscow Exchange. The yuan accounted for 54% of currency trades in May. It will "set the trajectory for other currency pairs" and be the guideline for market participants, the central bank said.<h2 id="b8afca12-2368-458b-9579-dd9a3689e87c">Russia's use of 'friendly currencies' and the ruble for trade has risen</h2>Russia has been seeking <a target="_blank" href="https://www.businessinsider.com/russia-economy-divert-oil-exports-europe-india-china-circumvent-sanctions-2023-12">alternative trading partners</a> and <a target="_blank" href="https://www.businessinsider.com/china-russia-alternative-swift-payment-cips-spfs-yuan-ruble-dollar-2022-4">payment systems</a> since the West hit the country with sweeping sanctions following its invasion of Ukraine in February 2022.Russia's central bank said on Thursday that the currencies from "friendly countries" and the ruble now account for as much as 80% of Russia's foreign trade payments.<a target="_blank" rel="" href="https://markets.businessinsider.com/news/currencies/dollar-vs-ruble-dedollarization-russia-putin-brics-currency-dominance-trade-2024-6">Russian leader Vladimir Putin</a> himself doubled down on his call to phase out the use of the US dollar and other "toxic" currencies earlier this month.Moscow is also working with the <a target="_blank" href="https://www.businessinsider.com/dedollarization-russia-actively-working-brics-local-currencies-platform-us-dollar-2024-6">BRICS bloc</a> of major emerging countries on a payment platform to bypass the use of the US dollar — the world's dominant reserve currency for decades.Meanwhile, countries around the world are also diversifying their assets and chipping away at the <a target="_blank" rel="" href="https://markets.businessinsider.com/news/commodities/de-dollarization-reasons-why-countries-move-away-us-dollar-2023-7">dominance of king dollar</a> over fears that — like Russia — they could be shut out of the dollar-based global financial system should sanctions hit.However, the greenback is so entrenched and pervasive that <a target="_blank" rel="" href="https://markets.businessinsider.com/news/currencies/de-dollarization-dollar-war-currency-usd-dominance-china-yuan-economy-2024-5">very few actually think it can be dethroned.</a>

Russia adopts Chinese yuan-to-ruble as benchmark exchange rate after US sanctions force a further move away from the dollar

Markets regulator <keyword id="19901201" type="General" weightage="20" keywordseo="Sebi" source="keywords">SEBI</keyword> has proposed expanding the <keyword id="22367248" type="General" weightage="20" keywordseo="sustainable-finance-framework" source="keywords">sustainable finance framework</keyword> in the <keyword id="20922662" type="General" weightage="20" keywordseo="securities-market" source="keywords">securities market</keyword> by introducing a new category of financial instruments. This category will include <keyword id="20518791" type="General" weightage="20" keywordseo="Social-Bonds" source="keywords">social bonds</keyword>, <keyword id="22623575" type="General" weightage="20" keywordseo="Sustainable-Bonds" source="keywords">sustainable bonds</keyword>, and <keyword id="22623576" type="General" weightage="20" keywordseo="Sustainability-linked-Bonds" source="keywords">sustainability-linked bonds</keyword>, in addition to the current <keyword id="22819966" type="General" weightage="20" keywordseo="green-debt-securities" source="keywords">green debt securities</keyword>. It aims to provide issuers with flexibility in raising funds for projects that align with environmental, social, and governance (ESG) objectives. In a consultation paper released on Friday, SEBI proposed that issuers, in addition to existing green debt securities, should be allowed to raise funds through issuance of social bonds, sustainable bonds, and sustainability-linked bonds. These bonds will collectively be known as ESG Debt Securities. This will enable issuers to raise money for more sustainable projects, assisting in closing the funding gap for the Sustainable Development Goals. SEBI said it received representations from market participants including the Confederation of Indian Industry to expand the scope of the regulatory framework pertaining to sustainable finance to include social bonds, in addition to existing green debt securities as a mode of raising sustainable finance, in line with global practices. As per the consultation paper, SEBI said, it "proposed to introduce the concept of sustainable securitised debt instruments for the purpose of providing originators of the underlying credit facilities which are within such international or domestic frameworks for sustainable finance, and thereby provide investors as well an opportunity to participate in the sustainable securitised debt instruments". The consultation paper also addressed the initial and continuous disclosures for sustainable securitised debt instruments that would be based on international frameworks. Initial disclosures could be made in the offer document for the securities, while continuous disclosures might be included in annual reports or other mandated formats. The markets watchdog also suggested that issuers of ESG debt securities and sustainable securitised debt instruments appoint an independent external reviewer or certifier, to facilitate transparency and credibility. The review could take various forms including, second-party opinions, verification, certification, or scoring/ rating. The <keyword id="19901204" type="General" weightage="100" keywordseo="Securities-and-Exchange-Board-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Securities and Exchange Board of India" meta.hostid="261" meta.entityid="Securities and Exchange Board of India">Securities and Exchange Board of India</keyword> (SEBI) has invited comments and suggestions from the public on the consultation paper by September 6.

You Searched For "exchange rates" and got 11 results

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The Russian arms dealer who was exchanged for Brittney Griner is trying to sell weapons to the Houthis: report

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Rupee trades in narrow range against US dollar in early trade

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Russia adopts Chinese yuan-to-ruble as benchmark exchange rate after US sanctions force a further move away from the dollar

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SEBI proposes expansion of sustainable financial framework in securities market

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