Page 9 - Foreign Exchange

Defending the rupee

Market adjustment should not be delayed for long

RBI measures a step in right direction but forex inflows still seen limited

RBI announced five measures pertaining to the liberalisation of foreign exchange flows into India

RBI measures should help rupee outperform peers in emerging mkts: Experts

The slew of measures announced by Reserve Bank of India (RBI) on Wednesday to enhance foreign exchange inflows should help rupee to outperform its peers in emerging market economies, experts said. RBI said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to alleviate dollar tightness with the objective of ensuring orderly market functioning. It announced five measures to enhance foreign exchange inflows. The Indian rupee, RBI said has depreciated by 4.1 per cent against the US dollar during the current financial year so far (up to July 5), which is modest relative to other EMEs and even major Advanced Economies (AEs). Abhishek Goenka, CEO of IFA Global, said that in a nutshell, RBI has tried to boost short-term dollar inflows with the latest measures. Vivek Kumar, Economist at QuantEco Research, said persistent pressure on rupee has prompted the central bank to diversify its defence strate

Proposed DESH law aims to grant SEZs greater flexibility, but will it work?

Some experts see significant positives, other believe problems associated with older policy will persist

Rupee at a fresh new low as rising oil deepens CAD, inflation concerns

The domestic currency was trading at a fresh record low of 78.597 per US dollar against 78.34 per dollar at the previous close

India's forex reserves drop $5.9 bn in a week as RBI sells dollars

In two weeks, the country's foreign exchange reserves have dropped over $10 billion as the central bank stepped up intervention in the foreign exchange market

Rupee slips by 1 paisa, settles at all-time low of 78.33 against US dollar

During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.

ITC's luxury project in Colombo hit by headwinds as Sri Lanka economy sinks

Company says it remains focused on completing project in expeditious manner

Rupee ends at record low as rebound in crude deepens CAD, inflation worries

Settles at 78.0825 to the dollar as against 77.9800 at 3:30 p.m. on Monday. The previous record closing low for the domestic currency was 78.0700 on June 17

India's foreign exchange reserves decline $4.6 billion to $596 billion

RBI has been selling dollars to curb any rapid depreciation of the rupee

Reserve Bank of India turns net buyer of dollars in April, shows data

According to the latest data, the RBI purchased $1.96 billion in April

India among 12 economies on currency Monitoring List' of US treasury

According to the report, India (with $569.9 billion) has the fourth largest foreign exchange after China ($3.2 trillion), Japan ($1.2 trillion) and Switzerland ($1 trillion)

Ahead of policy decision, RBI steps in to save rupee from hitting a new low

Currency trades in a narrow zone; ends the day at 77.71 against dollar

Remitting money? Use lock-in facility to get best forex rate, say experts

Take into account transaction fee, conversion fee, and exchange-rate mark-up when comparing players' costs

Overseas investors' concerns remain as shift to T+1 settlement cycle nears

Issues around on trade confirmation day, forex booking, pre-funding yet to be fully settled

Flow of money into NRI deposits moderates to $3.23 bn in FY22: RBI data

Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.

Rupee rebounds from all-time low; rises 19 paise to 77.31 against US dollar

At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close

Sri Lanka: Former President Maithripala Srisena calls for fresh elections

The former president added that he could not stay at home when the people were in a state of distress with thousands of problems in the country

Forex reserves down $3.271 bn to $600.423 bn, says RBI data

In the previous week, the reserves had declined by USD 311 million to USD 603.694 billion

EV adoption likely to stem foreign exchange outgo on oil imports

The imported cost for manufacturing an electric car is very high compared to a ICE-powered model.