A narrower spread makes it less attractive for foreigners to invest in rupee assets
The rupee was trading at 79.80 against the US dollar at 10.10am IST, compared to its close of 79.64 on Wednesday
The rupee is partially convertible. It attained current account convertibility in the early- through mid-1990s. This means the rupee can be converted to any foreign currency at existing market rates
'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'
YES Bank clarified that it had indeed started the process of seeking a partner for an asset reconstruction company through a public expression of interest, but added that the process is still underway
'Foreign institutional investment (FII) is expected to reverse when these macro headwinds stabilise for a few months'
The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI
If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month's imports. Any withdrawal beyond this could pose a problem
Citigroup Inc. economists expect a 35 basis-point increase in borrowing costs at the Reserve Bank of India's next Monetary Policy Committee meeting in August, a move also predicted by Barclays Plc
India's central bank has announced a mechanism to settle international trade in rupee. This will make trade easier with countries facing US sanctions. Find out about the RBI's decision and its impact
Countries to accept trading partners' currency; move aimed at reducing dollar dependence
The Indian economy faces tough challenges, but the pressure today is more on Mint Road
The penalty has been imposed in exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007
The Reserve Bank of India (RBI) hiked the benchmark interest rate, or repo rate, in May and then in June to control demand and liquidity in the economy
The rupee's use in trade settlement would help the RBI in conserving foreign exchange. India's forex reserves have fallen by more than Rs 1 trillion since the outbreak of the Russia-Ukraine war
Fears of a global recession weigh on the unit despite RBI measures to boost dollar inflow
Exchange rate of two trading partners may be market determined, says central bank
Exporters said the move was a step towards acceptance of rupee as an international currency.
However, receding crude oil prices in the international market restricted the loss for the rupee, which posted its third straight session of decline
It has been decided to put in place an additional arrangement for invoicing, payment & settlement of exports/imports in INR, says RBI