Page 12 - Currency
Binance forming recovery fund to help projects in liquidity crisis
Binance CEO's announcement triggers rise in Bitcoin, Ether
 "Binance forming recovery fund to help projects in liquidity crisis")
Chatroom: 'Export incentives available on payments received through SVAs'
Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India
 "Chatroom: 'Export incentives available on payments received through SVAs'")
Rupee logs best single-day gain in 4 years as Fed hikes seen slowing
As dollar index breaches key technical levels, outlook on rupee improves
 "Rupee logs best single-day gain in 4 years as Fed hikes seen slowing")
Rated Indian infrastructure firms most exposed to currency risk: S&P
Much of corporate portfolio has dollar-linked revenue and is not exposed to rupee depreciation
 "Rated Indian infrastructure firms most exposed to currency risk: S&P")
How Binance, FTX deal rocked the Crypto world and later collapsed
On Tuesday, the world's biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX's finances
 "How Binance, FTX deal rocked the Crypto world and later collapsed")
Rupee strengthens to over one-month high on FPI flows, weak dollar
Indian currency at 1-month high on FPI flows, weak dollar
 "Rupee strengthens to over one-month high on FPI flows, weak dollar")
Centre allows export incentives for those settling trade in rupee
DGFT makes key amendments to foreign trade policy
 "Centre allows export incentives for those settling trade in rupee")
Centre allows trade settlement for export promotion schemes in Indian rupee
With the amendment to the Foreign Trade Policy, invoicing, payment, and settlement of trade can now take place in Indian rupee
Rupee surges 48 paise to close at 81.92 per dollar, highest in a month
Stronger yuan, resumption of FPI flows into stocks bolster rupee
 "Rupee surges 48 paise to close at 81.92 per dollar, highest in a month")
India's foreign exchange reserves jump $6.5 billion to $531 billion
The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week
 "India's foreign exchange reserves jump $6.5 billion to $531 billion")
Rupee logs best single-day gain since September 30 on strong FPI flows
The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday
 "Rupee logs best single-day gain since September 30 on strong FPI flows")
In a two-decade first, currency in circulation declines in Diwali week
The currency in circulation (CIC) declined by Rs 7,600 crore in the Diwali week, making it the first such happening in two decades, a report said on Thursday. This was made possible courtesy of a greater reliance on digital payments by people, the report by economists at SBI said, adding that the Indian economy is undergoing a structural transformation at present. They clarified that the Diwali week in 2009 had also witnessed a marginal Rs 950 crore decline in currency in circulation, but that was purely due to the economic slowdown amid the global financial crisis. "The innovations in technology have changed the Indian payment system. Over the years, the Indian cash lead economy now has changed to a smart-phone lead payment economy," they said. The economists also said that a lower currency in circulation also is akin to a cut in the cash reserve ratio for the banking system as it results in lower leakage of deposits and will have a positive impact on monetary transmission as ...
Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das
Central bank to consider findings of pilot projects before decision, he says
 "Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das")
RBI has been prudent in its exchange rate management: Deepak Parekh
Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman
 "RBI has been prudent in its exchange rate management: Deepak Parekh")
Rupee marks biggest monthly losing streak since 1985, braces for Fed move
Oil importers' dollar purchases, breach of technical levels drag rupee lower
Foreign exchange reserves fall to $525 billion, lowest since July 2020
So far in 2022, the Indian currency has weakened 9.9 per cent against the US dollar
 "Foreign exchange reserves fall to $525 billion, lowest since July 2020")
India's forex reserves touch $524.5 bn, lowest level since July 2020
The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion
 "India's forex reserves touch $524.5 bn, lowest level since July 2020")
Rupee, bonds gain on hopes of Federal Reserve slowing rate hikes
At 3:30 pm IST on Thursday, the US dollar index was at 110.09 as against 112.02 at the same time on Tuesday
India's foreign exchange reserves at lowest level since July 2020
The fall in foreign exchange reserves was primarily on account of a decline in the RBI's foreign currency assets that fell $2.8 billion on-week to $468.87 billion
 "India's foreign exchange reserves at lowest level since July 2020")
Rupee reverses from new low to edge higher; RBI likely intervened
The rupee closed at 82.76 per U.S. dollar, against 83.0200 in the previous session
 "Rupee reverses from new low to edge higher; RBI likely intervened")