Foreign Exchange

A card with zero cross-currency conversion charge will allow you to load US dollars and then spend in any currency without incurring further charges

Against the ​yen, the U.S. dollar was down 0.1% at 163.645 yen, on course for its sharpest daily decline ​since July 10

The government responded to a grave foreign exchange crisis by progressively liberalising, rather than perpetuating restrictions on access to foreign exchange and imports

A stable economy does not require a permanently stable exchange rate

India's forex reserves jumped USD 964 million to USD 675.157 billion in the week ended July 10, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had jumped by USD 7.26 billion to USD 674.193 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 onset of the West Asia conflict, which led to several weeks of drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. For the week ended July 10, foreign currency assets, a major component of the reserves, increased by USD 930 million to USD 546.508 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 increased by USD 24 million to USD 105.223 billion during the week, the RBI ...

Foreign banks' India exposure limits may shape FCNR(B) inflows as Indian lenders tweak deposit rates and tenors to attract NRI funds under the RBI scheme

ARAI has dropped its two-rate forex proposal for FY27 DVA calculations under the auto PLI scheme after automakers flagged audit, compliance and paperwork concerns

NRI money can steady a wobble but it's not a substitute for durable capital inflows. We need structural changes in the bond and equity markets

RBI's push to attract FCNR deposits may ease external pressures, but improving conditions raise questions over the costs, risks and necessity of the incentives

The Reserve Bank of India (RBI) on Tuesday said the swap facility for foreign currency non-resident deposits (FCNR) is a simple foreign exchange swap, but only covers the original principal amount, not the interest. The RBI also said banks are permitted to extend loans to the FCNR (B) account holders and mark a lien on such deposits, the central bank said in FAQs on Swap Facility for FCNR (B) deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowing. On June 8, the RBI introduced a special US dollar-rupee forex swap scheme to enable banks to mobilise fresh FCNR (B) deposits without hedging risk, a move aimed at attracting foreign capital. Banks have been permitted to offer higher returns on dollar deposits in an FCNR(B) Account with a tenure of three to five years. Foreign Currency Non-Resident (Bank) deposits help NRIs earn in foreign currency while protecting savings from rupee depreciation risk. "Reserve Bank of India will be providing a Forex Swap for the

The central bank remained a net seller in the spot forex market as the rupee came under pressure from geopolitical tensions and persistent foreign outflows

India's foreign exchange reserves recorded their steepest weekly decline since March, with a sharp fall in gold reserve valuations offsetting gains in foreign currency assets

Brokerages estimate leveraged FCNR(B) deposits could generate annual returns of up to 27 per cent for NRIs while helping banks attract $30-60 billion in fresh foreign currency inflows

Every major industrial power has relied on long-duration strategic capital. If India insists on pure market competition, the playing field will remain inherently asymmetric

India has raised import tariffs on gold and silver to 15 per cent from 6 per cent, as part of efforts to curb overseas purchases of the metals

India's forex reserve jumped by USD 938 million to USD 682.321 billion during the week ended May 28, the Reserve Bank said on Friday. In the previous reporting week, the kitty dropped USD 7.511 billion to USD 681.384 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 onset 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. Prime Minister Narendra Modi has also made multiple public appeals starting May 11 to countrymen to conserve forex by cutting down on foreign travel, limiting fuel use and refraining from gold buys for a year. For the week ended May 29, foreign currency assets, a major component of the reserves, increased USD 3.116 billion to USD 546.148 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or ..

If India had created more fiscal space in the three good years following the end of the Covid crisis in 2022-23, it would have more options to deal with the current one

India's forex stress reflects delayed reforms, weak capital inflows and a widening current-account deficit, underscoring the need to attract long-term investment

The rupee rose sharply on lower crude oil prices and likely RBI intervention, even as India's foreign exchange reserves fell to their lowest level in over a year

The rupee has lost about 10 per cent against the dollar over the past 12 months, the worst performance among Asian currencies