Foreign Exchange

Officials in the Prime Minister's Office and Finance Ministry have held discussions with the Reserve Bank of India on several measures that could be taken to limit the damage from soaring oil prices

Economists broadly agree that this financial year is shaping up to be tougher than the last for the external account

India's forex reserves dropped by USD 7.794 billion to USD 690.693 billion during the week ended May 1, the RBI said on Friday. In the previous reporting week ended April 24, the overall reserves had declined by USD 4.82 billion to USD 698.487 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the beginning of the Middle East conflict, which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. For the week ended May 1, foreign currency assets, a major component of the reserves, decreased by USD 2.797 billion to USD 551.825 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of gold reserves decreased by USD 5.021 billion to USD 115.216 billio

RBI has stopped fresh approvals for full-fledged money changers and directed authorised persons to phase out franchisee arrangements within two years

India's improving value perception, geopolitical stability and diverse offerings create a rare opportunity to sharply increase foreign tourism revenues from Europe if approached systematically

Decline in foreign currency assets and gold reserves pulls down India's forex reserves in the week ended April 24, according to RBI data

Japan's biggest bank is setting up a team which will start operations this financial year, Shashank Joshi, MUFG India's deputy chief executive officer said

From services trade trends and POSH gaps in IT firms to rupee volatility, labour reforms, and Arctic geopolitics, here are the key insights from today's Business Standard Opinion page

Feedback highlighted operational challenges in capturing and reporting transactions undertaken by related entities across jurisdictions

During the month, the RBI purchased $21.4 billion and sold $13.99 billion. In January, it had net bought $2.5 billion

Banks seek relief as RBI caps forex exposure, triggering potential $40 billion unwinding and raising concerns over MTM losses and rupee volatility

Forex reserves declined for a third week, led by a sharp fall in gold holdings, while forward book positions and global factors continue to exert pressure on reserve adequacy

Foreign exchange reserves fell to a two-month low of $709.76 billion as of March 13, the latest data shows

A Knight Frank-Deloitte report says foreign universities establishing campuses in India could help retain $113 billion in foreign currency by 2040, easing large outflows for overseas education

RBI proposes allowing banks to trade forex derivatives on offshore electronic platforms under tighter safeguards, governance norms and rupee transaction restrictions

The central bank said the regulations were finalised after examining feedback received from stakeholders on the draft framework released on October 3, 2025

The RBI has proposed expanding reporting norms to require AD Cat-I banks to disclose all offshore related-party rupee FX derivative contracts to CCIL, with phased compliance thresholds over 24 months

The matter was resolved around 11:30 a.m. after traders had flagged issues with execution of trades on the interbank order matching system more than two hours ​earlier

RBI Deputy Governor T Rabi Sankar says rupee internationalisation aims to reduce risk for Indian firms, not replace the dollar, and warns that stablecoins pose macro risks

At $701 billion, reserves at 13-week high; shy of all-time high of $705 billion