Page 12 - Foreign Exchange

ED seizes funds worth Rs 107 Cr of Chinese loan app firm for FEMA violation

ED said it has seized funds worth about Rs 107 cr of a Chinese-controlled NBFC, engaged in dishing out instant personal loans over an internet-based app, for alleged violation of foreign exchange law

India's forex reserves decline $2.10 billion to $619.365 billion

India's foreign exchange reserves decreased by USD 2.099 billion to stand at USD 619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday. The forex kitty had increased by USD 889 million to a lifetime high of USD 621.464 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 1.358 billion to USD 576.374 billion in the reporting week, as per the weekly data by the Reserve Bank of India (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. Value of the gold reserves declined for the second consecutive week, dropping USD 720 million to USD 36.336 billion, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 7 million to USD 1.544 billion. The country'

India's forex reserves rise by $889 mn to lifetime high of $621.464 bn

The country's foreign exchange reserves increased by USD 889 million to a lifetime high of USD 621.464 billion in the week ended August 6, 2021, RBI data showed on Friday

Forex reserves for hedging, can't use them to fund projects: Experts

Carry liability and not 'free' resource for funding

Foreign exchange reserves zoom to record high of $612.73 bn: RBI data

The country's foreign exchange reserves rose by USD 835 million to touch a record high of USD 612.73 billion in the week ended July 16, 2021, RBI data showed.

RBI should ease regulations for shipment credit

Many exporters do not find it practical to send the export documents through the banks because of the extra costs and delays involved

ITC Group's earning from foreign exchange in FY21 up 29% at Rs 5,934 cr

Total foreign exchange earning of the ITC Group from exports in FY21 rose 29.08 per cent to Rs 5,934 crore, the company's latest annual report said

Indian forex reserves rise by $1.88 bn to record high of $611.89 bn

The country's foreign exchange reserves increased by $1.883 billion to touch a record high of $611.895 billion in the week ended July 9, RBI data showed on Friday.

Deutsche Bank launches indexes to track 21 emerging market currencies

Deutsche Bank launched a new set of foreign exchange (FX) indexes to track 21 emerging market (EM) currencies, indicating a growing relevance and importance of developing markets in the global economy

Forex reserves rise by $5 billion to lifetime high of $609 billion

Gold reserves rose by USD 365 million to USD 36.296 billion in the period under review, the data showed.

Near-term global bond market correction likely-strategists: Reuters poll

A significant global bond market correction is likely in the next three months as central bankers eye the exit door from pandemic emergency policy, according to a Reuters poll of strategists

Forex reserves rise $3.07 billion to lifetime high of $608.08 billion

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.

Forex has helped avert a currency run, but continuous inflow has its risks

At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks

Remitting money abroad? Do your research to avoid getting fleeced on cost

Select a player that offers complete transparency on both the transaction fee and the exchange rate it is going to levy

A no-action policy with focus on growth

'Unwinding' is unlikely to happen before the third quarter of this year even if we don't mess up in tackling a possible third wave of Covid; rate hike may have to wait for next year

RBI's forex gains enabled it to give Rs 1-trillion dividend to govt

An accounting change enabled the central bank to book gains from the sale of foreign currency against the historical weighted-average holding cost.

How to neutralise the impact of rupee weakening against the dollar

Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals

India's foreign exchange reserves drop by $2.4 billion to $576.8 billion

The country's foreign exchange reserves declined by USD 2.415 billion to stand at USD 576.869 billion in the week ended April 2, RBI data showed on Friday. In the previous week ended March 26, the reserves had decreased by USD 2.986 billion to USD 579.285 billion. The forex kitty had touched a record high of USD 590.185 billion in the week ended January 29, 2021. In the reporting week ended April 2, 2021, the decline in the reserves was mainly on account of a fall in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by USD 1.515 billion to USD 536.438 billion, weekly data by the Reserve Bank of India (RBI) 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. The gold reserves dropped by USD 884 million to USD 34.023 billion in the reporting week, as per the central bank data. The special drawing right

Pakistan hires banks for a possible foreign currency bond offering: Report

The nation is looking to raise funds after reaching an agreement with the IMF on resumption of a $6-bn bailout program that was secured in 2019 to avoid bankruptcy

How RBI's currency operations are spiking forward premia across tenures

From about 3.5 per cent at the start of December to 6 per cent now, three-month forwards rates are most affected