Page 15 - Forex

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

China moves to cool Yuan rally by raising FX reserve requirement

The nation's financial institutions will need to hold 7 per cent of their foreign exchange in reserve from June 15

Foreign currency deposits lose sheen due to stable rupee

The flow of total NRI deposits during FY21 was $7.3 bn as compared to $8.6 bn in FY20. This was the lowest flow of NRI deposits since FY17

Forex reserves rise by $1.444 billion to $589.465 billion: RBI data

The country's foreign exchange reserves increased by $1.444 billion to $589.465 billion in the week ended May 7, 2021, shows RBI data

Rupee falls 18 paise to 73.53 against US dollar in early trade

The Indian rupee slumped 18 paise to 73.53 against the US dollar in opening trade on Tuesday tracking weak domestic equities and strong American currency.

Unfair charge

India is not using currency to gain unfair advantage

India has been exemplary in publishing forex intervention: US report

It said that like most emerging market currencies, the rupee was buffeted in 2020 by substantial swings in global risk appetite and associated shifts in capital flows

FY21: Momentous year for bonds, rupee and forex reserves amid the pandemic

Supply outpaced demand for fixed-income paper with Centre's Rs 12 trn borrowing plan and Rs 10 trn by states. But RBI support ensured it didn't pinch hard till the end of the year

Rupee logs best single-day gain in 6 months on forex inflows, stocks rally

The rupee on Wednesday surged by 65 paise -- its biggest single day spike since September 2020 -- to end at 72.72 against the US dollar on the back of weakness in the American dollar and rise in risk appetite in the global markets. A rally in domestic equities, foreign fund inflows and positive macro data also boosted the rupee sentiment. The US dollar weakened in the global markets as as investors took heart from an easing in bond yields that has alleviated worries over possible interest rate hikes. At the interbank forex market, the local unit opened at 73.26 against the greenback and witnessed an intra-day high of 72.71 and a low of 73.26. It finally settled at 72.72 against the American currency, registering a rise of 65 paise over its previous closing. The single-day rise is the highest since September 1, 2020, when the rupee had shot up 73 paise. "Market sentiments improved on hopes that massive stimulus packages from governments, easy monetary policies from central banks a