Foreign Exchange News
Arun Jaitley remains non-committal on cutting excise duty as petrol and diesel prices hit fresh high
Arun Jaitley defended criticism that he and External Affairs Minister Sushma Swaraj as Opposition leaders had mounted against the previous UPA government on the issue saying inflation during those times was in double-digits
The rupee fell for the sixth straight session on Wednesday, closing at a low of 71.75 against the US dollar, but Arun Jaitley said the currency is better off than others.
The rupee on Friday slumped by 26 paise breach the historic low of 71 level for the first time against the US currency due to firming crude oil prices and strong month-end demand from oil importers.
The rupee, which has seen a severe battering of late, is expected to appreciate thanks to the relief rally seen in most Asian emerging markets as well as positive capital inflows, say experts.
Rupee to trade near record low over coming year hampered by high oil prices; trade tensions hurt emerging markets
Rupee has lost over 7 percent this year, with worries over the US-China trade conflict pushing it to a new record low of 69.122 against the dollar in July, making it the worst performing Asian currency.
The rupee had strengthened 24 paise against the US dollar in the last two trading sessions.
High maintenance costs due to the NEO engine issue as well as a change in the airline’s earlier model for acquiring aircraft (from sale and leaseback to outright purchase) could be the two main reasons for a spike in costs for IndiGo.
RBI plans to set-up internal group to review timings of currency futures and foreign exchange markets
RBI has been receiving, from time to time, requests for extension of timings for currency futures and over-the-counter (OTC) foreign exchange markets
IndiGo Apr-Jun quarter net profit tanks 96.6% to Rs 27.8 cr on adverse impact of foreign exchange, high fuel prices
IndiGo's sales from operations rose 13.2 percent to Rs 651.20 crore in the quarter, compared with Rs 575.29 crore in the year-ago period
Bond investors shun India, cite lack of reassurance from RBI amid hawkish US Fed and higher oil prices
India has seen the largest bond outflows in Asia this year, and investors say the RBI’s laconic communication has added uncertainty in an already challenging environment
India earns Rs 18,000 cr per year from export of basmati rice, says agriculture minister Radha Mohan Singh
India has earned more than Rs 18,000 crore foreign exchange per year from the export of basmati rice, especially from the variety 1121 developed by the country's top agri-institute ICAR, Agriculture Minister Radha Mohan Singh said on Monday
Paytm customers can load up to $250,000 into the forex card and buy up to $3,000 as currency notes.
CBI which is probing the over Rs 13,000 crore PNB scam as well as other financial frauds, has sought deputation of banking and tax experts from other ministries with an offer of good monetary incentives
Commerce Minister Suresh Prabhu on Monday said early data indicate that exports have registered a "good performance" in June despite volatility in global markets
Rupee will rebound in a year to erase losses against dollar, but path rife with pitfalls ahead of 2019 elections: Analysts
Rupee is forecast to rebound and gain slightly to 66.87 in a year from about 67.45 on Tuesday, according to the poll of about 30 foreign exchange analysts
According to SBI Ecowrap, every $10/barrel increase in oil price results in additional import bill of $8 billion
A move by Indian exchanges to stop licensing its products and data to bourses abroad will likely force foreign investors into a tough option: migrate their trading onshore to India, with its uncertain regulatory environment and higher taxes, or give up their exposure to a hot emerging market
Illegal foreign currency trading of 472.3 billion formed the bulk of the cryptocurrency crimes claimed the South Korea customs department.
Foreign exchange reserves once again crossed $400 bn mark in previous week, after they rose $1.208 bn to $400.741 bn