Rupee Rises Sharply by 65 Paise on Iran-Israel Ceasefire Hopes, Oil Drops Below $70
Pointers Rupee rose by 65 paise to ₹86.13 vs USD in early trade (June 24). Triggered by Trump’s announcement of an Iran-Israel ceasefire. Crude oil prices fell 2.73% to $69.53, reducing import pressure. US dollar index weakened to 98.13, aiding rupee strength. Sensex surged 930 pts, Nifty up 279 pts, boosting market sentiment. The rupee […]
Iran Threatens to Block Strait of Hormuz: What It Means for the World — and India
Iran’s Parliament has approved a proposal to block the Strait of Hormuz, escalating tensions after the US conducted airstrikes on three Iranian military sites. While the final decision rests with Iran’s Supreme National Security Council, global markets and major oil-importing nations, including India, are watching closely. Here’s what the threat to block the Strait means […]
Centre Slashes Customs Duty on Crude Edible Oils to Cool Soaring Prices
In a major move to provide relief to households ahead of the upcoming festival season, the Central Government has slashed the Basic Customs Duty (BCD) on crude edible oils like crude sunflower, soybean, and palm oils from 20% to 10%. This change narrows the import duty gap between crude and refined edible oils from 8.75% […]