Page 11 - Forex

RBI net-sold $19.05 billion in forex market in July to protect rupee

RBI's forward purchases fell $9 bln in July as interventions spread across spot, forwards

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

UP drafts 'services export' policy to attract investors, earn forex

UP is targetting to increase merchandise exports to almost Rs 3 trillion in the next three years

Rupee falls 40 paise to close at 79.6 against USD as risk appetite declines

Lower global crude prices and a rally in domestic equities restricted the losses to some extent, forex dealers said.

Monetary policy: SPDs can offer all foreign exchange trade facilities

Decision comes after requests from foreign players; scope of existing licence was restrictive, say primary dealers

Bangladesh's forex reserves enough to cover up to 9 months of imports: PM

Bangladesh Prime Minister Sheikh Hasina said her country would be able to meet 6-9 months of import expenditures with the existing foreign currency reserves

Bangladesh seeks $4.5-billion IMF loan amid forex worries: Report

Known for its big garment-exporting industry, Bangladesh has sought the funds for its balance of payment and budgetary needs, as well as for efforts to deal with climate change

India's foreign exchange reserves drop $7.5 billion to $572.7 billion

Foreign exchange reserves depleted around $70 billion from its peak in September 2021

43% of India Inc's foreign exchange revenue comes to IT companies

The companies that have published their forex transaction for FY22 account for nearly 65 per cent of such earnings in the sample

Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96

The rupee depreciated 4 paise to 79.96 against the US dollar in opening trade on Wednesday amid demand for dollar from oil importers and firm crude oil prices

Explained: What happens if the rupee hits 80 against the US dollar

When the value of a currency falls, imports become dearer and prices of raw materials rise

Banks revise foreign currency deposit rates in response to RBI's move

SBI, ICICI Bank and IDFC First Bank have raised interest rates on foreign currency non-resident deposits in response to the Reserve Bank's relaxation last week to shore up forex inflows.

Rupee hits record low for a third straight session; touches 79.66 vs dollar

The Indian rupee hit a record low for a third straight session on Wednesday as foreign investors continued to dump riskier assets ahead of US inflation data

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

Top headlines: RBI tries to shore up rupee; DGCA notice to SpiceJet

Union ministers Mukhtar Abbas Naqvi and R C P Singh submitted their resignations to Prime Minister Narendra Modi on Wednesday, a day before the completion of their Rajya Sabha term, sources said.

RBI liberalises norms to boost forex inflows to shore up rupee

The measures include easing norms for FPI investment in debt market, and increasing the ECB limit under the automatic route from $750 mn or its equivalent per financial year to $1.5 bn

RBI may need to tweak forex strategy, let rupee weaken, say analysts

To control the tumble, the Reserve Bank of India (RBI) has sold dollars in the spot market and simultaneously bought and sold in the forwards market.

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

Use of 10% ethanol-blended petrol saved over Rs 41,000 cr forex: Minister

Use of 10% ethanol-blended petrol has led to a saving of over Rs 41,000 cr in the foreign exchange for the country, minister of state for environment, forest and climate change Choubey said .

Foreigners pull out of Asian equities for fifth straight month in May

(Reuters) - Asian equities continued to witness foreign outflows for a fifth consecutive month in May, hit by concerns over monetary tightening measures by major central banks and supply chain disruptions due to strict lockdowns in China.