Page 11 - Foreign Exchange

Centre asked to see PIL seeking uniform banking code for forex transactions

The Delhi High Court on Tuesday asked the Centre to seriously look into the issue raised in a PIL seeking implementation of a Uniform Banking Code for foreign exchange transactions

40,000 MT diesel from India reaches crisis-hit Sri Lanka amid power crisis

Sri Lanka is facing an unprecedented economic and energy crisis caused due to shortage of foreign exchange

Japan to revise forex law to end crypto loophole for sanctions on Russia

Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow's invasion of Ukraine through cryptocurrency assets, government officials said

Lankan papers run out of newsprint due to forex crisis; suspend publication

Sri Lanka is facing its all-time worst foreign exchange crisis after the pandemic hit the nation's earnings from tourism and remittances

RBI likely to adopt hands-off approach in foreign exchange market

The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.

Central Bank of Russia limits foreign cash withdrawals until Sept 9

The Central Bank of Russia (CBR) on Wednesday said it is imposing a USD 10,000 limit on foreign cash withdrawals from foreign currency accounts by clients until September 9

European currencies hammered, dollar rallies as Russia invades Ukraine

The euro fell as much as 1.2% to $1.1164, the lowest level since Jan. 31

Foreign exchange hedging cost rises after RBI dollar-rupee swap plan

One-year dollar-rupee forward premia closes at 4.19%

RBI to suck out $5 billion liquidity from the system ahead of LIC IPO

Foreign exchange players said the move is positive for rupee and will push up dollar/rupee forward premium

Revolut buys money transfer company Arvog Forex for undisclosed sum

The acquisition will strengthen Revolut's foundation in India and accelerate its plans to offer its remittance service and forex services to Indian customers

Banks in India can offer foreign currency-settled rupee derivatives

Move is expected to remove segmentation between onshore and offshore markets

RBI likely to move Trai, MeitY against unauthorised forex platforms

May seek invocation of clauses in major social media and search engines like FB, Google, etc to disallow adv content that is not compliant with local laws of their target audience

India's forex reserves up by $2.229 billion to $634.965 billion

Gold reserves rose by USD 726 million to USD 39.77 billion in the reporting week

Exotic forex derivatives set for India in RBI push to deepen markets

The return of exotic forex derivatives as well as the introduction of swaptions are part of efforts to give corporates more risk-management options as India's global trade integration expands

Digital cash can prevent accidents on the $19 trillion FX highway

CLS is good at preventing mishaps in the foreign-exchange market. The trouble is, it handles only 18 major currencies

Forex reserves decline by $160 million to $635.67 billion

Gold reserves rose by $475 million to $39.183 billion in the reporting week

Former FX official says China should avoid excess yuan appreciation

The Chinese yuan has been one of the best-performing Asian currencies this year, rising about 3% against a strengthening dollar

India's forex reserves decline $1.783 billion to $635.905 billion

India's foreign exchange reserves declined for the second consecutive week, ending USD 1.783 billion down at USD 635.905 billion for the week ended December 3, RBI data showed on Friday.

Rupee tanks to 16-month low of 75.60 against dollar on forex outflows

Meanwhile, oil prices were lifted by optimism that the Omicron mutation might not have a significant impact on oil demand

India exemplary in publishing its forex market intervention: US Treasury

India has been exemplary in publishing its foreign exchange market intervention, the US Treasury Department said on Friday.