Forex

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

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

The rupee weakened against the dollar, tracking Asian currencies and firm crude oil prices, amid geopolitical tensions and sustained foreign fund outflows

India's forex reserves jumped USD 3.825 billion to USD 700.946 billion during the week ended April 10, says RBI. In the previous reporting week ended April 3, the overall reserves had jumped USD 9.063 billion to USD 697.121 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. For the week ended April 10, foreign currency assets, a major component of the reserves, increased by USD 3.127 billion to USD 555.983 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 601 million to USD 121.343 billion during the week, the

Surplus liquidity in the banking system remained above Rs 5 trillion for the fifth straight day, supported by government spending and bond redemptions

Since the RBI first clamped down to support the battered rupee, which had hit record lows and was staring at the 100 per dollar mark, the local currency has gained around 2%

In the previous reporting week, overall forex reserves had dropped by $10.28 billion to $688.05 billion

Banks need to put in place a straight-through process for crediting the inward payments to individual accounts

The truly unsettling element in the scenario has been the fall in the exchange rate of the rupee. The fall predates the Iran conflict

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In the previous reporting week, the overall reserves had dropped $11.413 billion to $698.346 billion

RBI permits residents to exchange rupee notes at forex counters in airport departure areas, extending a facility earlier largely limited to non-residents

CCIL said ‌it would levy a volatility margin of 20 per cent of initial margin with immediate effect under its foreign exchange forward segment regulations

Niyo Forex launches Chennai branch as part of its expansion plan, targeting Tamil Nadu's outbound travel and remittance demand with a phygital model and wider service network

Central bank's net short dollar position in forward market rises sharply in February, with long-term tenures driving the increase

Cap on banks' forex positions offers only short-lived relief as oil prices, capital outflows and structural imbalances continue to weigh on the rupee

Report suggests ring-fencing OMCs' $75-80 billion annual forex demand via special RBI window to improve visibility, ease volatility and stabilise rupee dynamics