Besides, possible intervention by the central bank to check volatility in currency markets also helped the domestic unit, forex traders said.
Foreign Minister Ali Sabry was briefing the media here on President Ranil Wickremesinghe’s visit to India on July 20-21, his first since assuming office last year. He held talks with Prime Minister Narendra Modi on Friday
The strength of the American currency in the overseas market and firm crude oil prices also put downside pressure on the rupee
Forex traders said rupee is likely to trade with a negative bias on risk aversion in global markets
In October 2021, the country's forex reserve had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global...
These figures also do not include the money that Indians, NRIs or others might have in Swiss banks in the names of third-country entities
"Rupee trade mechanism has been initiated to facilitate trade in national currency with Russia. As of July 2, RBI has approved 34 applications from different Russian banks for opening SRVA in 14 Indian commercial banks," the...
Although the Reserve Bank of India (RBI) had stated earlier that it keeps accurate accounts of all printed notes, it failed to clarify how an RTI activist misinterpreted data to make a damning allegation that the Indian...
At the interbank foreign exchange, the domestic unit opened higher at 81.97 and moved in a range of 82.02 to 81.86 in the day trade
As per the notification, Authorised Dealer (AD) Category-I banks operating IBUs can offer NDDCs involving the Indian rupee to resident non-retail users for...
The recent BRICS foreign ministers’ meeting in Cape Town has once again put the spotlight on the demand for currencies that can challenge the US dollar’s...
Rs 2,000 currency note was introduced in November 2016 following the central government's demonetisation move
Tripathi said settling trade in Indian rupees would also create new opportunities for businesses in South Africa and India to enter each other’s markets
On Saturday, India and Malaysia can now use the Indian rupee to settle trade in addition to other currencies, the Ministry of External Affairs (MEA) said.
The government had previously said India would become a USD 5 trillion economy by 2025
At the interbank foreign exchange, the rupee opened weak at 82.66, registering a decline of 5 paise from the last close
Rupee vs Dollar: In the previous session on Friday, the rupee settled almost flat at 82.75 against the US dollar.
The exchange rate of the Indian Rupee (INR) against the greenback hit a record high of Rs 83.20 per dollar on October 20, 2022
It was decided on December 5, when the finance ministry held a review meeting with commerce ministry officials, CEOs of banks, and exporters to promote...
The government of India has made suitable amendments in the Foreign Trade Policy and Handbook of Procedures to allow for international trade settlement in...
Figures fail to show any significant positive impact of Prime Minister Narendra Modi’s 2016 order banning two highest-valued currency notes in the country
Keeping a portion of your foreign expenses for your travel or education beforehand can give you a hedge against rupee depreciation
A large number of concerns, relating to data security and financial stability, have come up in the investigations surrounding Central Bank Digital Currencies...
At the interbank foreign exchange, the domestic unit opened at 82.74 against the dollar, then gained ground to touch 82.73, registering a rise of 7 paise over...
The development needs of India will require more imports but we should be able to increase our exports to finance these increased imports. The current trend in...
