Page 18 - Rupee
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's move to settle trade transactions in rupee timely: Exporters
Exporters said the move was a step towards acceptance of rupee as an international currency.
 "RBI's move to settle trade transactions in rupee timely: Exporters")
Rupee drops 19 paise to new low of 79.45 against USD amid FPI outflows
However, receding crude oil prices in the international market restricted the loss for the rupee, which posted its third straight session of decline
 "Rupee drops 19 paise to new low of 79.45 against USD amid FPI outflows")
RBI forms arrangement for settling trade payments in rupees
It has been decided to put in place an additional arrangement for invoicing, payment & settlement of exports/imports in INR, says RBI
 "RBI forms arrangement for settling trade payments in rupees")
Rupee down 7 paise to 79.33 a dollar amid muted trend in domestic equities
At the interbank foreign exchange, the rupee opened weak at 79.30 against the American dollar and slipped further to quote at 79.33, a decline of 7 paise over its last close
 "Rupee down 7 paise to 79.33 a dollar amid muted trend in domestic equities")
Unhedged exposure via external commercial borrowing new threat to rupee
According to RBI data on external debt released, short-term debt on a residual maturity basis accounted for 44.1% of foreign exchange reserves at the end of March 2022
 "Unhedged exposure via external commercial borrowing new threat to rupee")
RBI allows more FPI access to Indian bonds, but returns may not lure flows
Treasury officials believe the move may not work as rising interest rates abroad and high domestic inflation have eroded returns from Indian fixed-income assets
 "RBI allows more FPI access to Indian bonds, but returns may not lure flows")
Rupee falls 10 paise to 79.26/$, tracking rebound in crude oil prices
At the interbank foreign exchange market, the local currency opened weak at 79.20 and touched a high of 79.20 and a low of 79.32
 "Rupee falls 10 paise to 79.26/$, tracking rebound in crude oil prices")
Rupee's travails: What has led to the fall, and what can Reserve Bank do?
The foremost reason for the currency's fall is the money being pulled out from the Indian economy by the FPIs and FIIs. In the last six months, FPIs have pulled out Rs 2.32 trillion
 "Rupee's travails: What has led to the fall, and what can Reserve Bank do?")
Rupee falls 12 paise to 79.25 against dollar amid foreign fund outflows
At the interbank foreign exchange, the rupee opened at 79.20 against the American dollar, then lost ground to quote at 79.25, registering a fall of 12 paise from the last close
Rupee's slide to successive record lows pits RBI against mkt full of bears
The rupee's tumble to a succession of record lows is sparking fears of a deeper selloff and pitting the central bank against analysts and strategists who are predicting further losses
 "Rupee's slide to successive record lows pits RBI against mkt full of bears")
Defending the rupee
Market adjustment should not be delayed for long
Rupee gains but market unsure of inflows amid global rush to US dollar
The rupee settled at 79.18 per US dollar as against 79.30 per US dollar on Wednesday
 "Rupee gains but market unsure of inflows amid global rush to US dollar")
Inflation, CAD: RBI's moves to stabilise rupee face many economic hurdles
The steps came after the RBI's foreign exchange reserves fell by more than $40 billion over the past nine months, largely due to its intervention in the currency market to curb rupee losses
 "Inflation, CAD: RBI's moves to stabilise rupee face many economic hurdles")
Weak rupee a worry for Indian firms as 44% foreign loans unhedged
Experts say firms will have to either immediately take forward cover or book losses if Rs depreciates further
 "Weak rupee a worry for Indian firms as 44% foreign loans unhedged")
RBI takes steps to attract foreign flows, says growth prospects stay strong
RBI said that despite the headwinds from geopolitical developments, elevated crude oil prices and tighter external financial conditions, high frequency indicators point to an ongoing recovery in sever
 "RBI takes steps to attract foreign flows, says growth prospects stay strong")
RBI's innovative approach to control the fall in rupee is commendable
The efficacy of the central bank's steps will be seen in the coming days
 "RBI's innovative approach to control the fall in rupee is commendable")
Top headlines: RBI tries to shore up rupee; DGCA notice to SpiceJet
Union ministers Mukhtar Abbas Naqvi and R C P Singh submitted their resignations to Prime Minister Narendra Modi on Wednesday, a day before the completion of their Rajya Sabha term, sources said.
RBI liberalises norms to boost forex inflows to shore up rupee
The measures include easing norms for FPI investment in debt market, and increasing the ECB limit under the automatic route from $750 mn or its equivalent per financial year to $1.5 bn
Rupee declines by 38 paise to new low of 79.33 against USD on CAD concerns
The currency's slump comes a day after data showed India's trade deficit ballooned to a record $25.63 bn on account of a steep increase in gold and crude oil imports
 "Rupee declines by 38 paise to new low of 79.33 against USD on CAD concerns")
