Exchange Rates
In defence of financial globalisation
The argument that a country can be an active participant in global trade but avoid financial globalisation is fundamentally faulty
 "In defence of financial globalisation")
After initial losses, rupee settles flat at 82.54 against US dollar
The rupee pared initial losses and settled on a flat note at 82.54 (provisional) against the US dollar on Thursday, supported by a rebound in domestic equities. At the interbank foreign exchange market, the local unit opened at 82.59 against the American currency and touched a low of 82.66 and a high of 82.48 intra-day. It finally settled at 82.54 against the greenback, unchanged from its previous close. In the previous session on Wednesday, the rupee had appreciated 16 paise after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. The dollar index, which gauges the greenback's strength against a basket of six currencies, declined 0.36 per cent to 103.03. Global oil benchmark Brent crude futures advanced 0.19 per cent to USD 85.25 per barrel. "The Indian rupee depreciated against the US dollar amid fund outflows and risk-averse sentiments. However, the loss was limited following the state-run banks' dollar supply following inflows from the issuance of green .
 "After initial losses, rupee settles flat at 82.54 against US dollar")
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 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")
RBI is anchoring expectations on rupee weakness, says Shaktikanta Das
He expects inflation to fall within tolerance band by January-March
 "RBI is anchoring expectations on rupee weakness, says Shaktikanta Das")
Banks, financial markets strong enough to withstand extreme volatility: Das
Going forward, our monetary policy will be watchful, nimble footed and calibrated, says RBI Governor
 "Banks, financial markets strong enough to withstand extreme volatility: Das")
What is a currency swap?
India has extended the duration of the $400 million currency swap facility extended to Sri Lanka, which is in dire straits. But what exactly is currency swap? This report offers an insight
 "What is a currency swap?")
Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more
The rupee on Tuesday weakened past 80 per dollar for the first time but went on to recover lost ground
 "Top Headlines: Rupee breaches 80/$ for 1st time, Right to Repair, and more")
Indian defence firms seek protection from exchange rate variation
India's private defence firms had last campaigned for ERV protection after being bruised by the rupee's fall from Rs 44 a dollar in October 2010 to below Rs 56 just a few months later
 "Indian defence firms seek protection from exchange rate variation")
 "Explained: Why the Indian rupee is depreciating")
Extending export credit in rupee can boost its acceptability: Experts
However, the rupee can truly become internationalised only when it becomes freely convertible on capital account, they say
 "Extending export credit in rupee can boost its acceptability: Experts")
RBI allows settlement in rupee to settle trade with Russia, Sri Lanka
Exchange rate of two trading partners may be market determined, says central bank
 "RBI allows settlement in rupee to settle trade with Russia, Sri Lanka")
RBI fighting on several fronts to slow rupee's decline to fresh records
The rupee closed down 0.3% to 78.97 a dollar on Wednesday, extending this year's losses to 5.9%. RBI's stated stance is that it intervenes to curb currency volatility
 "RBI fighting on several fronts to slow rupee's decline to fresh records")
Banks should be more liberal on issues like exchange rates: Goyal
Union Commerce Minister Piyush Goyal on Thursday asked bankers to be "more liberal" on aspects like exchange rates while serving the exporters segment.
 "Banks should be more liberal on issues like exchange rates: Goyal")
Rupee gains 10 paise to end at 73.85, rises for second day in a row
Meanwhile, market sentiments are hurt on concern that rising Covid-19 cases in India and lockdown restriction in some states may hurt economic recovery.
 "Rupee gains 10 paise to end at 73.85, rises for second day in a row")
Rupee extends gains for 4th day; rises 29 paise to 74.07 against dollar
This comes amid a positive trend in domestic equities.
 "Rupee extends gains for 4th day; rises 29 paise to 74.07 against dollar")
Rupee recovers by 28 paise on weak dollar; ends 4-day losing run
This came on the back of weakness in the greenback and positive domestic equities.
Rupee drops by 52 paise to 74.87 against US dollar amid lockdown fears
The rupee plunged by 52 paise to close at 74.87 (provisional) against the US dollar on Monday amid a lacklustre trend in the domestic equities as investors fretted over the prospects of lockdown
Rupee zooms 58 paise to settle at 74.35 against US dollar amid equity gains
Improving risk appetite also helped
Rupee gains 12 paise to close at 74.93 against US dollar amid equity gains
Easing crude oil prices helped too
