Page 3 - Currency
Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially
RBI says digital rupee for retail segment will be in the form of a digital token that represents legal tender, to be issued in same denominations as paper currency and coins
 "Retail CBDC pilot starts Dec 1, to be tested in 4 banks, 4 cities initially")
Forex reserves likely to show revaluation gains now, say analysts
RBI said to have been actively buying dollars for the past couple of weeks, say currency traders
 "Forex reserves likely to show revaluation gains now, say analysts")
RBI, UAE central bank discuss mechanism to trade in local currencies
Negotiations between India-GCC FTA expected in Jan-March quarter
 "RBI, UAE central bank discuss mechanism to trade in local currencies")
ICICI Bank launches dollar bond, deposit-linked loan for NRIs at GIFT City
Lender claims to be the first to offer these products in GIFT City
 "ICICI Bank launches dollar bond, deposit-linked loan for NRIs at GIFT City")
Rupee slides as Chinese yuan weakens, October trade deficit hits mood
The rupee settled at 81.65 per US dollar on Thursday as against 81.31 per dollar at previous close
 "Rupee slides as Chinese yuan weakens, October trade deficit hits mood")
Nine Russian banks open special vostro accounts for trade in rupee
Next round of India-UK FTA talks expected in Dec: Commerce secy
 "Nine Russian banks open special vostro accounts for trade in rupee")
Binance forming recovery fund to help projects in liquidity crisis
Binance CEO's announcement triggers rise in Bitcoin, Ether
 "Binance forming recovery fund to help projects in liquidity crisis")
Chatroom: 'Export incentives available on payments received through SVAs'
Export invoicing in INR is already allowed but the payment must come through Vostro Accounts maintained by foreign banks with a bank in India
 "Chatroom: 'Export incentives available on payments received through SVAs'")
Rupee logs best single-day gain in 4 years as Fed hikes seen slowing
As dollar index breaches key technical levels, outlook on rupee improves
 "Rupee logs best single-day gain in 4 years as Fed hikes seen slowing")
Rated Indian infrastructure firms most exposed to currency risk: S&P
Much of corporate portfolio has dollar-linked revenue and is not exposed to rupee depreciation
 "Rated Indian infrastructure firms most exposed to currency risk: S&P")
How Binance, FTX deal rocked the Crypto world and later collapsed
On Tuesday, the world's biggest exchange, Binance Holdings Ltd., was set to acquire troubled rival FTX.com. On Wednesday, Binance walked away from the deal citing problems with FTX's finances
 "How Binance, FTX deal rocked the Crypto world and later collapsed")
Rupee strengthens to over one-month high on FPI flows, weak dollar
Indian currency at 1-month high on FPI flows, weak dollar
 "Rupee strengthens to over one-month high on FPI flows, weak dollar")
Centre allows export incentives for those settling trade in rupee
DGFT makes key amendments to foreign trade policy
 "Centre allows export incentives for those settling trade in rupee")
Centre allows trade settlement for export promotion schemes in Indian rupee
With the amendment to the Foreign Trade Policy, invoicing, payment, and settlement of trade can now take place in Indian rupee
Rupee surges 48 paise to close at 81.92 per dollar, highest in a month
Stronger yuan, resumption of FPI flows into stocks bolster rupee
 "Rupee surges 48 paise to close at 81.92 per dollar, highest in a month")
India's foreign exchange reserves jump $6.5 billion to $531 billion
The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week
 "India's foreign exchange reserves jump $6.5 billion to $531 billion")
Rupee logs best single-day gain since September 30 on strong FPI flows
The rupee settled at 82.44 per dollar on Friday versus 82.89 on Thursday
 "Rupee logs best single-day gain since September 30 on strong FPI flows")
In a two-decade first, currency in circulation declines in Diwali week
The currency in circulation (CIC) declined by Rs 7,600 crore in the Diwali week, making it the first such happening in two decades, a report said on Thursday. This was made possible courtesy of a greater reliance on digital payments by people, the report by economists at SBI said, adding that the Indian economy is undergoing a structural transformation at present. They clarified that the Diwali week in 2009 had also witnessed a marginal Rs 950 crore decline in currency in circulation, but that was purely due to the economic slowdown amid the global financial crisis. "The innovations in technology have changed the Indian payment system. Over the years, the Indian cash lead economy now has changed to a smart-phone lead payment economy," they said. The economists also said that a lower currency in circulation also is akin to a cut in the cash reserve ratio for the banking system as it results in lower leakage of deposits and will have a positive impact on monetary transmission as ...
Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das
Central bank to consider findings of pilot projects before decision, he says
 "Not in a hurry to launch CBDC; have to proceed carefully: RBI Guv Das")
RBI has been prudent in its exchange rate management: Deepak Parekh
Currency's depreciation not a reflection of the economy, says HDFC Ltd chairman
 "RBI has been prudent in its exchange rate management: Deepak Parekh")
