Page 13 - Forex

Forex reserves decline by $908 million to $640.1 billion, shows data

FCA declined by USD 853 million to USD 577.098 billion in the reporting week, the data showed

India's import cover fell to 15.8 months in June 2021, says RBI

At the end of September 2021, India's foreign exchange reserves stood at 635.36 billion

What is Capital Account Convertibility? Is India ready for it yet?

India is on cusp of complete Capital Account Convertibility. While this may lead to rise in FPI inflows, there are a few red flags the govt and RBI need to address. Let's look at those in this report

Forex reserves increase by $2.039 billion to $639.516 billion

Gold reserves were up by USD 464 million to USD 38.022 billion in the reporting week.

Fall in travel, an unequal regulatory regime hit fortunes of money changers

The money-changing business was by no means booming before the pandemic; it has been evident for some time now that technology will reshape the business

Forex reserves down by $1.169 billion to $637.477 billion

The country's foreign exchange reserves dipped by $1.169 billion to stand at $637.477 billion in the week ended October 1, RBI data showed on Friday

India's forex reserves down by $1.34 billion to $641.113 billion

After reaching a record high in the previous week, the country's foreign exchange reserves declined by $1.34 billion to $641.113 billion in the week ended September 10, 2021, according to RBI data

Forex reserves surge $16.6 billion to record high of $633.5 billion

India's forex kitty had declined by USD 2.47 billion to USD 616.895 billion in the previous week ended August 20, 2021

Foreign exchange reserves drop by $2.47 billion to $616.895 billion

Gold reserves were up by USD 913 million to USD 37.249 billion in the reporting week, the data showed.

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

Carry liability and not 'free' resource for funding

Forex reserves surge by $9.42 billion to all-time high of $620.57 billion

Gold reserves were up by USD 760 million to USD 37.644 billion in the reporting week, the data showed.

Rupee gains for fourth straight session, settles at 74.17 against USD

The rupee settled for the day on a flat note and inched 2 paise higher to close at 74.17 (provisional) against the US currency, marking the fourth straight session of gains on Thursday.

ED slaps Rs 10,600-crore notice on Flipkart for forex violations

The probe reflects discrepancies in Flipkart's structuring operations, according to the official

Indian Bank Q1 net more than triples to Rs 1,182 cr, NIM up marginally

Bad loan recoveries helps to improve bottom-line

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

Forex volatility falls to pre-pandemic lows as traders wait it out

The Deutsche Bank Currency Volatility Index hit its lowest since February last year.

Dented by disappointed job figures, dollar on backfoot ahead of CPI

The possibility of a slowdown in bond buying is also in focus leading up to a European Central Bank meeting on Thursday, and both concerns kept a lid on price moves in Asia

As India's forex reserves cross $600 bln, liquidity gush to fuel equities

Experts say there's liquidity in the system.

Rupee settles 8 paise lower at 72.99 against US dollar amid RBI policy move

The rupee fell 8 paise to close at 72.99 (provisional) against the US dollar on Friday, with forex market participants weighing RBI policy measures aimed at mitigating the COVID-19 impact on the economy. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance amid the second COVID wave. At the interbank forex market, the local unit opened on a weak note at 73.00 against the greenback and witnessed an intra-day high of 72.95 and a low of 73.13. It finally ended at 72.99, registering a fall of 8 paise over its previous closing. On Thursday, the rupee had settled at 72.91 against the US dollar. RBI Governor Shaktikanta Das said the Monetary Policy Committee (MPC) voted unanimously for keeping interest rate unchanged and decided to continue with its accommodative stance as long as necessary to support growth and keep inflation within the target. Meanwhile, the dollar index, which gauges the greenback

India's forex reserves may have exceeded $600 billion: RBI governor

This comes on the back of robust capital flows