Foreign Exchange

RBI steers away from aggressive intervention as rupee touches new lows

RBI is intervening mainly to smooth volatility rather than defend specific levels as the rupee hits fresh lows amid outflows and trade-deal uncertainty, with its forward position limiting room to act

India's forex reserves fall by $2.7 bn to $687 bn in early November

India's foreign exchange reserves dropped by another USD 2.699 billion to USD 687.034 billion during the week ended November 7, the RBI said on Friday. The forex kitty has been on a declining trend for the past few weeks, and had decreased by USD 5.623 billion to USD 689.733 billion in the previous reporting week. For the week ended November 7, foreign currency assets, a major component of the reserves, decreased by USD 2.454 billion to USD 562.137 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Value of the gold reserves declined by USD 195 million to USD 101.531 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 51 million to USD 18.594 billion, the apex bank said. India's reserve position with the IMF was unchanged at USD 4.772 billion in the reporting we

India's foreign exchange reserves drop by $6.93 billion to $695.36 billion

RBI data shows foreign currency assets and gold holdings declined in the week ended Oct 24, pulling total reserves below the $700-billion mark

Gold reserves rise $31 bn in FY26 as RBI buys, prices hit record high

India's gold reserves climbed to $108 billion as global prices surged and the RBI added to its holdings, diversifying forex reserves amid rising global uncertainty

India's foreign exchange reserves rise past $700 bn as gold reserves rise

On the other hand, foreign currency assets decreased by $1.6 billion to $570 billion during the reported week due to increased intervention by the RBI via dollar sales

Indian currency liable for seizure under Fera, says Delhi High Court

The Delhi High Court was hearing Arjun Patil's appeal against the appellate tribunal orders' over the confiscation of ₹12.31 lakh and ₹40,000 penalty

Rupee dips 4.36% in Samvat 2081 as trade tensions weigh, bonds gain

Global tariff disputes and foreign outflows pressured the rupee, while RBI's 100-basis-point rate cuts and liquidity measures helped bond yields soften during the year

To build a developed India, RBI must move beyond micromanagement

RBI eases forex compliance: exporters and importers can reconcile smaller bills, merchant traders get longer timelines, and rupee vostro accounts gain investment flexibility

RBI links Bharat Connect, FX-Retail to facilitate dollar transactions

The integration will allow bank customers to digitally buy US dollars for remittances, forex cards, or currency notes at competitive rates

RBI pared back forward-dollar short position to $53 billion in August

The central bank has unwound $37 billion in forward-dollar shorts since February, allowing maturities to lapse and rebalancing exposure as it manages rupee volatility and liquidity

India's forex reserves fall $2.3 billion to $700.23 billion, shows RBI data

Last week, India's forex kitty had declined by $396 million to $702.57 billion, data showed

South Korea, US reach agreement over foreign exchange deal, says Seoul

South Korean President Lee Jae Myung told US Treasury Secretary Scott Bessent in New York that the Asian country needs a foreign exchange swap in order to make the $350 bn investment

CCIL: Taking govt bond and foreign exchange markets to the masses

What NSE and BSE are to the equity market, CCIL is far more than that for the govt bond, foreign exchange and OTC derivative markets

Govt must resolve SEZ units' problems arising from definition of 'services'

SEZ service exports face DTA payment disputes, GST relief linked to strict compliance, and CBIC eases customs with a single all-India electronic bond system

Govt clears SEZ proposals of Micron, Aequs for chip, electronics units

The government on Monday said it has approved the proposals from Micron Semiconductor Technology India and Hubballi Durable Goods Cluster (Aequs Group) for setting up SEZs for manufacturing of semiconductors and electronic components. Micron will establish its SEZ facility in Sanand, Gujarat, over an area of 37.64 hectares with an estimated investment of Rs 13,000 crore, while Aequs will establish its SEZ in Dharwad, Karnataka, over an area of 11.55 hectares to manufacture electronics components with an estimated investment of Rs 100 crore. The decision followed the easing of certain SEZ (special economic zone) rules to promote the manufacturing of semiconductors and electronics components. "Subsequently, the Board of Approval for SEZs has accorded approval to the proposals received from Micron Semiconductor Technology India Pvt Ltd (MSTI) and Hubballi Durable Goods Cluster Private Ltd (Aequs Group) for setting up SEZs for manufacturing of semiconductors and electronic components, .

Pakistan still withholding $83 million in airline funds, says IATA

Despite a sharp decline from last year, Pakistan continues to withhold airline revenues as IATA urges governments to honour repatriation agreements and support global connectivity

Open market operations: The central bank's new communication policy

The approach to managing liquidity and communication policy is yet another manifestation of how the central bank has taken a fresh view on the issue

India's forex reserves rises for seventh straight week to $686.145 bn

India's forex reserves jumped USD 8.31 billion to USD 686.145 billion for the week ended April 18, the RBI said on Friday. This is the seventh consecutive week of a rise in the kitty, which had jumped by USD 1.567 billion to USD 677.835 billion in the previous reporting week ended April 11. The forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended April 18, foreign currency assets, a major component of the reserves, increased by USD 3.516 billion to USD 578.495 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves increased by USD 4.575 billion to USD 84.572 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 212 million to USD 18.568 billion, the apex bank said. India's reserve position with the IM

India's forex reserves strong, can cover 11 months of imports: Sitharaman

Nirmala Sitharaman's remarks came after several opposition members raised concerns about the country's financial position, particularly regarding fluctuations in forex reserves

India's forex kitty jumps sharpest in 2 yrs, rises $15.26 bn to $653.96 bn

In the sharpest jump in over two years, the country's foreign exchange reserves increased by USD 15.267 billion to USD 653.966 billion during the week ended March 7, the RBI has said. The overall reserves had dropped by USD 1.781 billion to USD 638.698 billion in the previous week. The reserves had been on a declining trend recently due to revaluation along with forex market interventions by RBI to help reduce volatilities in the rupee. The forex reserves had increased to an all-time high of USD 704.885 billion at end-September 2024. The sharp rise during the week under review is being attributed to the USD 10 billion forex swap undertaken by the central bank on February 28, when it bought dollars against rupee to inject liquidity in the system. During the week, foreign currency assets, a major component of the reserves, increased by USD 13.993 billion to USD 557.282 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the eff