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However, lower crude prices in the international market and fresh foreign fund inflows restrict the rupee’s fall, forex dealers say
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Rolls-Royce wins engine contract from US government
Aircraft engine maker Rolls-Royce on Monday said it had won a contract worth $598 million (454 million euros) to supply the US military with 268 V-22 aircraft engines.
“Rolls-Royce ... has signed a $598 million contract with the US Department of Defense for 268 AE 1107C engines for US Marine Corps and Air Force V-22 aircraft,” the British company said in a statement.
Rolls-Royce said it would deliver 70 of the engines valued at $151 million in the first year of the contract.
“The contract includes four additional option years, with deliveries expected to total 268, including spare engines.”
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Gold rose in early morning trade on Thursday after minutes of the US Federal Reserve's latest policy meeting signalled slower interest rate hikes
The dollar index, which gauges the greenback's strength against six currencies, fell 0.41 per cent to 105.63, post weak US data and dovish Fed minutes
San Francisco Fed President Mary Daly said the real-world impact of US interest rate hikes is likely greater than what its short-term rate target implies
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.24 per cent to 107.57
Spot gold was down at $1,745.85 per ounce by 9.05am UAE time
On Friday, the rupee depreciated 10 paise to close at 81.74 against the US currency
The KSA retail offer remains unchanged at 10% of the total offering, whilst the institutional offer will reduce from 85% to 80% of the total IPO