IBTimes

A weak June, a wet rebound in July and a still-uncertain September have left agronomists watching India's paddy fields with caution rather than alarm, even as forecasters warn this El Nino could rank among the strongest on record.

Foreign currency assets, the largest component of the reserves, increased by $930 million to $546.51 billion, while gold reserves edged up to $105.23 billion. Special Drawing Rights (SDRs) and the reserve tranche position with the IMF also recorded marginal gains

SpaceX shares fell below their $135 IPO price for the first time after the company aborted the launch of its flagship Starship rocket. The stock closed 3.08% lower at $131.11 and extended its losing streak to five consecutive sessions since its June 12 market debut.

Malhotra said the rupee's performance remains stable compared to other global currencies despite a stronger US dollar. He also warned that rising crude oil prices and global uncertainties could push inflation higher, while stressing that policymakers should remain in a wait and watch mode

The Indian rupee snapped its three-day losing streak, opening at 4 paise stronger at 96.31 against the US dollar, supported by a weaker greenback after softer US inflation data pushed the dollar index to a one-month low.

Gold and silver prices witnessed changes in the retail market on July 17, Mumbai recorded the highest 24K gold price among the listed cities at 1,41,260 per 10 grams.followed by Chennai at 1,41,380. Silver prices also differed across cities, ranging from 2,15,180 per kg in Delhi to 2,19,100 per kg in Bengaluru.

Gold and silver prices declined on July 16 as escalating Middle East tensions boosted expectations that the US Federal Reserve may keep interest rates higher for longer. The fall in bullion prices came amid rising crude oil prices and inflation concerns.