Foreign Exchange
Foreign Exchange News
India extends additional $500 million credit line to help Sri Lanka purchase fuel
Sri Lanka has been struggling to pay for imports after its foreign exchange reserves plummeted sharply in recent times, causing a devaluation of its currency and spiraling inflation
Sri Lanka Cabinet resigns en masse as country faces its worst economic crisis
According to political experts, the cabinet ministers came under intense pressure from the public over the government's alleged 'mishandling' of the economic crisis, triggered by the shortage in the foreign exchange reserve
Colombo sends financial SOS to Delhi, but India wants Lanka to first walk the talk on China
Sri Lanka seeks urgent help from India as its net foreign exchange reserves plunge to an all-time low of $1.2 billion, barely enough to pay for a month’s imports.
Rupee recovers 12 paise to end at 74.96 against US dollar
At the interbank forex market, the local unit opened at 75.05 against the greenback and witnessed an intra-day high of 74.95 and a low of 75.17 during the day trade
Rupee logs first gain in six days, up 11 paise at 74.12 against US dollar
Rupee hovered in the range of 74.11 to 74.35 per dollar during the day before ending at 74.12 against the American currency
Rupee goes up 14 paise to 74.44 against US dollar in early trade
At the interbank foreign exchange, the domestic unit opened at 74.49 against the dollar, then inched higher to 74.44
Stock Market Latest Updates: Sensex plummets 886 points, Nifty below 9,150-mark; Tech Mahindra, Infosys among top losers
Stock Market Latest Updates: Sensex plummets 886 points, Nifty below 9,150-mark; Tech Mahindra, Infosys among top losers
Novelis Q4 sales dive 12% to $2.7 bn as commodity prices fall, shipments decline; firm on capacity additions
For the full year, Novelis net sales decreased 9 percent from the prior year to $11.2 billion, driven by lower average LME aluminum prices and local market premiums.
Rupee rises 25 paise to 74 against dollar in early trade amid positive opening in domestic equities
At the interbank foreign exchange the rupee opened at 74.16, then gained further ground and touched a high of 74.00 against the US dollar, registering a rise of 25 paise over its previous close.
India's current account deficit narrows to $1.4 billion in December quarter as net services receipts rise
The sharp contraction was primarily due to a lower trade deficit at $34.6 billion, and a rise in net services receipts, the central bank said.
RBI announces measures to infuse liquidity to sooth forex market; offers US dollar swaps worth $2 billion
The Reserve Bank on Thursday announced measures to infuse liquidity in the foreign exchange market, including the US dollar swaps worth $2 billion, as markets crashed amid mounting concerns over coronavirus pandemic
Rupee rises 12 paise to 70.82 against dollar in early trade on positive global cues, positive opening in domestic equities
At the interbank foreign exchange the rupee opened at 70.82 against the US dollar, registering a rise of 12 paise over its previous close.
Is liberalised remittances scheme becoming too liberal warranting a closer look? It is time govt set new limits
The rapidly increasing outbound remittances peaked to $1.69 billion in July (for a single month) 2019
Rupee tumbles 67 paise against dollar in early trade; currency under pressure after tit-for-tat US-China tariff attacks
The rupee had appreciated by 38 paise to close at a two-week high of 71.42 against the US dollar on Friday
Gold imports up 15.4% to $13.16 bn in April-July period; experts say traders may shift manufacturing bases to other countries
According to industry experts, there are apprehensions that sectoral players may shift their manufacturing bases to neighbouring countries due to high import duty on gold in India.
Rupee hits 6-month low of 71.40 against dollar, dives 62 paise on global turmoil
The rupee plunged 62 paise on Tuesday to close at a nearly six-month low of 71.40 against the US dollar in line with battered equities as global market turmoil and Argentine currency crash drove investors to safe havens
Rupee slips 16 paise to 68.58 in early trade on heavy selling in domestic equities, foreign fund outflows
The rupee came under pressure following heavy selling in domestic equities amid outflow of foreign funds, they added.
Rupee slips 28 paise against dollar in early trade on rising crude prices, subdued sentiment
The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.10 percent to 96.53.
Rupee sees high volatility against dollar post-Fed policy decision to leave key interest rates unchanged
The rupee opened strong at 69.47 at the interbank forex market, but lost ground and touched 69.67 per dollar, displaying gains of just 1 paise against the greenback.
Rupee records biggest gain in 2 months after exit poll results; rises 49 paise to 69.74 on gains in equities, forex inflows
At the interbank foreign exchange, the rupee opened at 70.36 and advanced to a high of 69.44 during the day.