Page 16 - Forex
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
 "Fall in travel, an unequal regulatory regime hit fortunes of money changers")
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
 "Forex reserves down by $1.169 billion to $637.477 billion")
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
 "India's forex reserves down by $1.34 billion to $641.113 billion")
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
 "Forex reserves surge $16.6 billion to record high of $633.5 billion")
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.
 "Foreign exchange reserves drop by $2.47 billion to $616.895 billion")
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.
 "Rupee gains for fourth straight session, settles at 74.17 against USD")
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
 "ED slaps Rs 10,600-crore notice on Flipkart for forex violations")
Indian Bank Q1 net more than triples to Rs 1,182 cr, NIM up marginally
Bad loan recoveries helps to improve bottom-line
 "Indian Bank Q1 net more than triples to Rs 1,182 cr, NIM up marginally")
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
 "ITC Group's earning from foreign exchange in FY21 up 29% at Rs 5,934 cr")
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.
 "Forex volatility falls to pre-pandemic lows as traders wait it out")
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
 "Dented by disappointed job figures, dollar on backfoot ahead of CPI")
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
 "India's forex reserves may have exceeded $600 billion: RBI governor")
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
 "China moves to cool Yuan rally by raising FX reserve requirement")
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
 "Foreign currency deposits lose sheen due to stable rupee")
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
 "Forex reserves rise by $1.444 billion to $589.465 billion: 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.