Page 4 - Foreign Exchange

India's foreign exchange reserves decline $4.6 billion to $596 billion

RBI has been selling dollars to curb any rapid depreciation of the rupee

Reserve Bank of India turns net buyer of dollars in April, shows data

According to the latest data, the RBI purchased $1.96 billion in April

India among 12 economies on currency Monitoring List' of US treasury

According to the report, India (with $569.9 billion) has the fourth largest foreign exchange after China ($3.2 trillion), Japan ($1.2 trillion) and Switzerland ($1 trillion)

Ahead of policy decision, RBI steps in to save rupee from hitting a new low

Currency trades in a narrow zone; ends the day at 77.71 against dollar

Remitting money? Use lock-in facility to get best forex rate, say experts

Take into account transaction fee, conversion fee, and exchange-rate mark-up when comparing players' costs

Overseas investors' concerns remain as shift to T+1 settlement cycle nears

Issues around on trade confirmation day, forex booking, pre-funding yet to be fully settled

Flow of money into NRI deposits moderates to $3.23 bn in FY22: RBI data

Outstanding deposits have also gone down to $139.02 billion at the end of March 2022. This compares to $141.89 billion a year ago, according to Reserve Bank of India (RBI) data.

Rupee rebounds from all-time low; rises 19 paise to 77.31 against US dollar

At the interbank foreign exchange, the rupee opened at 77.35 against the American dollar, then gained further ground to quote at 77.31, registering a rise of 19 paise from the last close

Sri Lanka: Former President Maithripala Srisena calls for fresh elections

The former president added that he could not stay at home when the people were in a state of distress with thousands of problems in the country

Forex reserves down $3.271 bn to $600.423 bn, says RBI data

In the previous week, the reserves had declined by USD 311 million to USD 603.694 billion

EV adoption likely to stem foreign exchange outgo on oil imports

The imported cost for manufacturing an electric car is very high compared to a ICE-powered model.

India's foreign exchange reserves down $311 million to $603.7 billion

In the previous week ended April 8, the reserves had declined by USD 2.471 billion to stand at USD 604.004 billion.

Rupee declines 24 paise to 76.43 against US dollar in early trade

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.18 per cent to 100.67

Afghanistan receives $32million in humanitarian cash assistance

The DAB also announced the auctioning of $13 million on Monday to inject foreign currency into the local market and stabilise afghani, the country's national currency, Xinhua news agency reported

MakeMyTrip's fintech arm TripMoney buys majority stake in BookMyForex

MakeMyTrip's fintech arm TripMoney on Tuesday said it has acquired a majority stake in online foreign currency exchange services provider BookMyForex to become a one-stop solution for all forex need

US Dollar reaches over 300 against Sri Lankan rupee for first time

Sri Lankan banks on Tuesday said US dollar reached over 300 against the country's rupee, LKR, for the first time, as the nation is facing a severe economic crisis with the shortage of foreign exchange

Centre asked to see PIL seeking uniform banking code for forex transactions

The Delhi High Court on Tuesday asked the Centre to seriously look into the issue raised in a PIL seeking implementation of a Uniform Banking Code for foreign exchange transactions

40,000 MT diesel from India reaches crisis-hit Sri Lanka amid power crisis

Sri Lanka is facing an unprecedented economic and energy crisis caused due to shortage of foreign exchange

Japan to revise forex law to end crypto loophole for sanctions on Russia

Japan will revise its foreign exchange law to prevent Russia from evading Western financial sanctions following Moscow's invasion of Ukraine through cryptocurrency assets, government officials said

Lankan papers run out of newsprint due to forex crisis; suspend publication

Sri Lanka is facing its all-time worst foreign exchange crisis after the pandemic hit the nation's earnings from tourism and remittances