Gold sees glimmer of hope as US dollar hits rough patch https://ift.tt/V3EKuv8 US dollar index fell 1.2 per cent last week marking its first decline in four weeks and has corrected more than 2 per cent from the 2002 high set earlier this month. The US currency lost momentum last week also as European Central Bank joined other central banks in monetary tightening ECB raised interest rate for the first time since 2011 and decided to raise lending rate directly by 0.5 per cent surprising few who were expecting a more gradual approach.
Government's cash surplus tops Rs 3.4 lakh crore https://ift.tt/54P3HSG from the deceleration in government spending, higher direct tax collections and a likely sharp rise in issuances of Treasury Bills by the Centre in FY24 were factors pushing up the government's cash balances, analysts said. The flow of government cash balances to and from the banking system is a key factor that influences liquidity conditions.
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