Page 6 - Foreign Exchange

Indians lost Rs 26,300 crore as foreign exchange fees in 2020

Of this, Rs 9,700 crore was "hidden" as exchange rate mark-ups alone, the study commissioned by a technology company involved in moving money, found

Forex reserves surge by $58.38 bn in Mar-Sep 2021 period: RBI report

The country's foreign exchange reserves surged by $58.38 billion in April-September 2021 to $635.36 billion, says an RBI report released on Wednesday

Forex reserves increase by $2.039 billion to $639.516 billion

Gold reserves were up by USD 464 million to USD 38.022 billion in the reporting week.

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

Sri Lanka's central bank unveils six-month plan to stabilise economy

Governor Ajith Nivard Cabraal, while announcing a range of measures, also reiterated that the island nation would not seek any bailout from the International Monetary Fund

Foreign exchange reserves down by $1.47 billion to $639.64 billion

The country's foreign exchange reserves declined by $1.47 billion to $639.642 billion in the week ended September 17, RBI data showed on Friday

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

Sri Lanka's central bank governor Lakshman resigns amid reserves crisis

Sri Lanka did not immediately announce a successor to Lakshman, who took up the post in December 2019. The government said he would step down on Tuesday

Forex reserves rise $8.895 billion to record high of $642.453 billion

The country's foreign exchange reserves increased by $8.895 billion to reach a record high of $642.453 billion in the week ended September 3, RBI data showed

India's foreign exchange reserves slide by over $2.47 billion

India's foreign exchange reserves fell by $2.470 billion, during the week ended August 20

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.

ED seizes funds worth Rs 107 Cr of Chinese loan app firm for FEMA violation

ED said it has seized funds worth about Rs 107 cr of a Chinese-controlled NBFC, engaged in dishing out instant personal loans over an internet-based app, for alleged violation of foreign exchange law

India's forex reserves decline $2.10 billion to $619.365 billion

India's foreign exchange reserves decreased by USD 2.099 billion to stand at USD 619.365 billion for the week ended August 13 due to a fall in core currency assets and gold, RBI data showed on Friday. The forex kitty had increased by USD 889 million to a lifetime high of USD 621.464 billion in the previous reporting week. Foreign currency assets (FCAs), a major component of the overall reserves, decreased by USD 1.358 billion to USD 576.374 billion in the reporting week, as per the weekly data by the Reserve Bank of India (RBI). Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Value of the gold reserves declined for the second consecutive week, dropping USD 720 million to USD 36.336 billion, the data showed. The special drawing rights (SDRs) with the International Monetary Fund (IMF) dipped by USD 7 million to USD 1.544 billion. The country'

India's forex reserves rise by $889 mn to lifetime high of $621.464 bn

The country's foreign exchange reserves increased by USD 889 million to a lifetime high of USD 621.464 billion in the week ended August 6, 2021, RBI data showed on Friday

Forex reserves for hedging, can't use them to fund projects: Experts

Carry liability and not 'free' resource for funding

Foreign exchange reserves zoom to record high of $612.73 bn: RBI data

The country's foreign exchange reserves rose by USD 835 million to touch a record high of USD 612.73 billion in the week ended July 16, 2021, RBI data showed.

RBI should ease regulations for shipment credit

Many exporters do not find it practical to send the export documents through the banks because of the extra costs and delays involved

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

Indian forex reserves rise by $1.88 bn to record high of $611.89 bn

The country's foreign exchange reserves increased by $1.883 billion to touch a record high of $611.895 billion in the week ended July 9, RBI data showed on Friday.

Deutsche Bank launches indexes to track 21 emerging market currencies

Deutsche Bank launched a new set of foreign exchange (FX) indexes to track 21 emerging market (EM) currencies, indicating a growing relevance and importance of developing markets in the global economy