According to the action plan, once banks receive applications from corresponding banks, they have to undertake internal scrutiny and send it to the RBI for approval
The rupee declined by 13 paise to close at 79.95 against the US currency on Wednesday as growing expectations of aggressive interest rate hikes by the US Fed drove the greenback to multi-year highs
India's overall foreign exchange reserves will deplete further this year due to a ballooning current account deficit and interventions by the central bank to support the rupee, Deutsche Bank said
The rupee depreciated by 11 paise to 79.93 against the US dollar in opening trade on Wednesday, tracking the strength of the American currency overseas.
Das said that the Indian rupee has "held its own" and moved in an "orderly manner at a time of sharp depreciation in other currencies"
The rupee appreciated 8 paise to close at 79.79 (provisional) against the US dollar on Monday, in line with a firm trend in domestic equities
The rupee appreciated 5 paise to 79.82 against the US dollar in early trade on Monday in line with a positive trend in domestic equities
Rupee logs first weekly gain in four, outperforms all EM currencies
The benchmark 10-year Indian government bond yield ended at 7.2318%. The yield rose two basis points on Thursday to end at 7.2146%
The Indian rupee is expected to trade in the range of 79.75-80.00 against the US dollar in the near term because the US Federal Reserve Chair has clearly signalled higher rates are likely to stay
The partially convertible rupee eased 0.1% to 79.5550 per U.S. dollar, having firmed up to a more than two-week high of 79.31 during the session
RBI interventions ward off bets against rupee; reserves seen comfortable for 2-3 years
Indian rupee is likely to remain under pressure and may test new levels as a fallout of the US Federal Reserve indicating more interest rate hikes, experts said
Bond yields fall as HDFC's Rs 10,000 crore debt sale plan propels custodian flows
August also marked the first month this year when overseas investors turned net buyers of India's government debt
Central bank may have sold dollars heavily around the 80.05 mark to shield domestic unit
The largest token fell as much as 2.3% on Monday to $19,527, the fifth day of declines
After hitting all-time low, the rupee recovered some of its losses to settle 10 paise down at 79.94 (provisional) against the US dollar
Rupee, dragged down by storm of international pressures and geopolitical headwinds, is a wake-up call to regulators and policymakers to strengthen the currency
RBI interventions to determine rupee's course amid surging dollar