A vendor sorts tomatoes as he waits for customers at a vegetable market in Mumbai, India. Reuters
Sluggish global demand pulled India’s merchandise exports lower by 6.05 per cent in August on a year-on-year basis. As per the data furnished by the Ministry of Commerce & Industry,
With Gross Domestic Product (GDP) growth sliding to a six-year low of 5 per cent in the April-June quarter along with several sectors facing a slowdown, Finance Minister Nirmala Sitharaman on Saturday
The sluggish global economy, along with the domestic slowdown, dented India’s external trade as both exports and imports showed a downtrend in December.
Bitcoin dropped by 7% to $48,176 in a third straight session of losses while others such as Ether and XPR suffered double-digit tumbles.
Spot gold was steady at $1,783.28 per ounce by 05:45 GMT while US gold futures rose 0.1% to $1,783.90 per ounce.
Brent crude futures rose 37 cents, or 0.6%, to $65.77 a barrel while US West Texas Intermediate (WTI) crude futures jumped 45 cents, or 0.7%, to $61.88 a barrel.
Global stocks ground higher while oil ebbed on Thursday as investors diverged over whether to bet on economic recovery in the United States and other developed markets or worry about a surge in COVID-19 cases in India and elsewhere.