Page 58 - Rupee

Do we really need the e-rupee?

Despite rapid digitalisation, the use of cash has not diminished in India. Yet the adoption of the e-rupee is not a question of if, but when

The rupee and foreign reserves: The larger story

It is argued that we should let the rupee find its own level - more so, when many other currencies are depreciating against the dollar. The low values of these currencies, however, are not sustainable

RBI interventions, corporate flows pull rupee back from new low against USD

Rupee underperforms EM peers so far in Oct, fares worse than 14 currencies

Markets settle lower for second straight session amid negative global cues

After tumbling over 800 points in intra-day trade, the BSE Sen­sex clawed back some lost ground to end 200.18 points at 57,991.11.

Pakistani rupee becomes world's best performing currency, gains 3.9%

Pakistans volatile rupee (PKR) became the "worlds best performing currency" in the week that ended on October 7, as it made the largest gain of 3.9% over five working days to 219.92 PKR to a dollar

Rupee breaches 82 level vs dollar as Fed officials back rate hike view

RBI nudges banks to ease up on offshore FX positions

RBI to launch e-rupee on pilot basis for limited use; issues concept paper

The Reserve Bank on Friday said it will soon commence the pilot launch of e-rupee for specific use cases as it tests digital currency in India. "As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e-rupee, from time to time," the central bank said in a concept note on Central Bank Digital Currency (CBDC). The concept note also discusses key considerations such as technology and design choices, possible uses of the digital rupee, and issuance mechanisms, among others. It examines the implications of the introduction of CBDC on the banking system, monetary policy, and financial stability, and analyses privacy issues.

10-yr yield logs steepest one-day rise in 2 mths amid index inclusion delay

Treasury officials also cited an increasingly uncertain global situation as a key factor that had dampened demand for bonds

Rupee rises 29 paise to close at 81.53 against US dollar on FII buying

The rupee appreciated by 29 paise to end at 81.53 (provisional) against the US dollar on Tuesday as heavy buying in domestic equities and weakness in the greenback strengthened investor sentiment. However, rising crude prices in the international market capped the rupee's gain, forex dealers said. At the interbank forex market, the local unit opened strong at 81.66 against the greenback. It witnessed an intra-day high of 81.36 and a low of 81.66 during the session. It finally ended at 81.53, up 29 paise from its previous close. In the previous session, the rupee had settled paise 42 lower at 81.82 against the dollar. "Rupee retraced from its all-time lows after the RBI raised rates by 50 bps. The dollar retraced from high levels after the manufacturing PMI number released from the US came below estimates. "Volatility in major crosses continues to remain high as updates on the change in economic policies keep market participants on the edge. Today, the focus will be on the factory

Sensex jumps over 1,300 points: Top 4 factors behind Tuesday's bull run

Going ahead, the bullish sentiment is likely to sustain this October as it has in the last eight out ten years, analysts said

Rupee sheds 53 paise on crude oil price spike; bond yields jump

Dealers say it's because of delay in index inclusion

Invest in US funds, gold to fulfil child education goal amid rupee plunge

Travellers may switch to destinations against whose currencies the rupee has gained

Rupee gains on report of RBI nudging oil firms to reduce dollar buys

Central bank's rate hike and easing dollar index lend support to domestic currency

67% of fall in forex reserves due to valuation changes: RBI governor Das

Das reiterated on Friday the RBI does not target any particular level for the domestic exchange rate and only intervenes in the market to smoothen out excessive volatility

Rupee fluctuations not a factor for MPC's consideration, says RBI

'Net LAF continues to be in surplus for the past two years, except for 2-3 days when because of SLF for the primary dealers it became deficit'

Sensex jumps 1,017 pts on RBI's 50-bps hike; Nifty nears 17,100; banks lead

CLOSING BELL: The benchmark indices snapped their seven-day losing streak as the RBI delivered a 50-basis point repo rate hike, and underscored the resilience of the Indian economy in his statement

Rupee weakness likely to pressure RBI on 50-bps rate hike: Analysts

Currency closes at 81.85/$, 9 p higher than previous close

India's current account deficit widens to 2.8% of GDP in Q1FY23: RBI

India's current account deficit, a key indicator of the balance of payment position, widened to 2.8 per cent of GDP at USD 23.9 billion in the first quarter of the current financial year, mainly on account of a higher trade deficit. As per the data released by the Reserve Bank on India's Balance of Payments during the First Quarter (April-June) of 2022-23, the current account balance recorded a deficit of USD 23.9 billion (2.8 per cent of GDP) in the first quarter, up from USD 13.4 billion (1.5 per cent of GDP) in January-March period of the last fiscal. India's current account surplus stood at USD 6.6 billion, equivalent to 0.9 per cent of GDP in the first quarter (April-June) of 2021-22. "Underlying the current account deficit in Q1:2022-23 was the widening of the merchandise trade deficit to USD 68.6 billion from USD 54.5 billion in Q4:2021-22 and an increase in net outgo of investment income payments," the RBI said. It also said net services receipts increased, both sequentiall

Rupee trade: Understanding difference between Nostro and Vostro accounts

The RBI has allowed two Russian banks, Sberbank and JSC VTB, to open Vostro accounts for rupee trade. Read more to find out what a Vostro account is and how it is different from a Nostro account

Rupee at another low of 81.94 per dollar as US Fed talks up rate hikes

RBI may have sold more than $1 bln in FX mkt, prevented rupee from breaching 82/$1