Page 2 - Foreign Exchange Reserve

RBI, Bank Indonesia agree to use local currencies for bilateral trade

This framework would enable exporters and importers to invoice and pay in their respective domestic currencies, which in turn would enable the development of an INR-IDR foreign exchange market

Rupee appreciates 4 paise to 83.01 against US dollar in early trade

The rupee rose 4 paise to 83.01 against the US dollar in early trade on Friday, tracking positive cues from domestic equity markets. Forex traders said a strong American currency and elevated crude oil prices, however, weighed on the local unit. At the interbank foreign exchange, the domestic currency opened at 83.03 and inched up to 83.01 against the greenback in initial deals, registering a gain of 4 paise from its previous close. On Thursday, the rupee settled 3 paise lower at 83.05 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was 0.12 per cent up at 104.32. Brent crude futures, the global oil benchmark, were trading 0.07 per cent lower at USD 82.80 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 302.55 points or 0.42 per cent higher at 72,352.93 points. The broader NSE Nifty advanced 95.90 points or 0.44 per cent to 22,006.65 points. Foreign Institutional Investors

Amid volatile oil prices, rupee turns flat at 83.03 against US dollar

The rupee stayed flat at 83.03 against the US dollar in early trade on Tuesday amid volatile crude oil prices in the overseas market. The Indian currency, however, found support from positive sentiment in the domestic equity markets and sustained inflow of foreign funds, forex traders said. They also said investors are expected to move cautiously ahead of the Reserve Bank's monetary policy committee (MPC) meeting. The six-member rate-setting panel of the central bank will begin the deliberation on Tuesday and announce the outcome on Thursday. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and slipped to 83.04 before retaining the previous day's closing level of 83.03 against the greenback. The rupee settled 5 paise lower at 83.03 against the dollar on Monday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally lower by 0.04 per cent at 104.28. Analysts attributed the higher

Rupee depreciates 4 paise to 83.02 against US dollar in early trade

The rupee depreciated 4 paise to 83.02 against the US dollar in early trade on Monday, tracking a strong American currency and rising crude oil prices in the international market. However, positive cues from the domestic equity markets and inflow of foreign funds supported the Indian currency, forex traders said. Investors will also keep a close watch on the Reserve Bank's monetary policy decision to be announced later this week, they said. At the interbank foreign exchange, the rupee opened at 83.03 against the dollar and touched a low of 83.04 before gaining marginally to trade at 83.02, down 4 paise over its previous close. The rupee settled flat at 82.98 against the dollar on Friday, a day after rising 6 paise on the day of the Union interim budget in which the government hinted at faster fiscal consolidation and lower borrowings in the next fiscal year. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per

Rupee appreciates 9 paise to 82.95 against US dollar ahead of Budget

The rupee appreciated 9 paise to 82.95 against the US dollar in early trade on Thursday as market participants remained cautious ahead of the interim Budget. Forex traders said the rupee was trading in a narrow range as the strength of the American currency in the overseas market and a muted trend in domestic equities weighed on investor sentiments. At the interbank foreign exchange, the rupee opened at 83.02 against the dollar and then touched a high of 82.95, registering a gain of 9 paise over its previous close. In initial trade, the rupee also touched a low of 83.03 against the American currency. On Wednesday, the rupee appreciated 6 paise to 83.04 against the US dollar. Forex traders said rupee traded in a narrow range and market participants remained cautious ahead of the interim Budget. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.24 per cent higher at 103.52. Brent crude futures, the global oil benchmark, fell

Sri Lanka's key inflation rises to 6.4% in January on higher sales tax

Food prices rose 3.3% in January from 0.3% in December, the Department of Census and Statistics said in a statement. Prices for non-food items rose 7.9% in January from 5.8% year-on-year in December

Rupee expected to weaken as odds of Fed rate cut in March diminish

The rupee's intraday range in the last four sessions has been just 2 to 6 paisa

India's foreign exchange reserves snap a three-week losing streak

Rise by $708 mn to $602 bn in the week ended Aug 11

Foreign exchange reserves up $700 mn to $602 bn, snap 3-week losing streak

The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the Reserve Bank of India's (RBI) reserves

Foreign exchange reserves surge by $2.34 billion to $596 billion: RBI data

The reserve rose mainly on account of a rise in the RBI's foreign currency assets, which rose by 2.57 billion to $527.65 billion in the previous week

Foreign exchange reserves jump by $7.2 bn to $595.98 bn, says RBI

India's foreign exchange reserves jumped by USD 7.196 billion to USD 595.976 billion in the week ended on May 5, the Reserve Bank of India said on Friday. The overall reserves had dropped by USD 4.532 billion to USD 588.78 billion in the previous reporting week. In October 2021, the country's forex reserve had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments. During the week ended on May 5, the foreign currency assets, a major component of the reserves, increased by nearly USD 6.536 billion to USD 526.021 billion, according to the latest Weekly Statistical Supplement released by the RBI. 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 659 million to USD 46.315 billion, the

Foreign exchange reserves jump to 9-month high to $584.76 bn: RBI data

That is an increase of $6.3 billion from the previous week

Delhi HC seeks RBI response on implementation of Uniform Banking Code

Court also asks Centre to file a reply in the case in six weeks; next hearing on March 20

Forex reserves rise for second week in a row; up $2.5 bn to $547.25 bn

The latest data marks the first time since May that the RBI's reserves have risen for two consecutive weeks

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

The rupee has depreciated 9.7 per cent against the dollar since September 2021

RBI releases 'alert list' of 34 entities barred from forex trades

List not exhaustive, must not assume those not on it are authorised for such trades

RBI support pulls rupee up from fresh lows, helps currency recoup losses

Central bank may have sold dollars heavily around the 80.05 mark to shield domestic unit

Pak forex reserves fall to lowest since 2019 due to increased debt: Report

Data by the State Bank of Pakistan said that country's foreign reserves have dropped by $555 mn or 6.6% on a weekly basis due to increased debt payments and a lack of external financing this month.

Pakistan central bank says FX reserves have fallen by $754 mn to $8.57 bn

"During the week ended on 22-Jul-2022, SBP's reserves decreased by US$ 754 million to US$ 8,575.1 million due to external debt and other payments," the central bank said

Economy a cause of worry as foreign exchange reserves deplete: Congress

"The government is actually fueling the rise of inflation by its wrong policies, especially through high taxes on petrol and diesel, high administered prices and high GST tax rates," Chidambaram said