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foreign exchange
FOREIGN EXCHANGE NEWS
India's foreign exchange reserves drop to eight-month low amid rupee pressure
January 03, 2025 10:36 pm
Concerns about India's slowing growth, widened trade deficit, broad-based dollar's strength and expectations surrounding the country's President-elect Donald Trump's policies have hurt the rupee.
After 22-years of trail, Mumbai court clears 76-year-old man of charges of FEMA violations
October 29, 2024 9:46 am
In the case from 2002, two men were receiving payments from two people in London, and were distributing it in Indian currency to evade foreign exchange laws.
Banks, fintechs partner to tap young Indian tourists with zero forex cards
February 14, 2024 3:38 pm
Fintech startup Fi, for instance, reduced the foreign currency transaction fee for its Amplifi credit card from 1 per cent to 0 per cent in December, matching the zero forex markup feature already available on its debit card.
Rupee ends 1 paisa lower at 83.38 against US dollar
December 13, 2023 7:39 am
Besides, selling pressure in the domestic equity markets dented market sentiments, forex traders said.
Forex reserves fall $14.15 bn in last one month on valuation impact, RBI intervention
October 15, 2023 12:40 am
From $598.897 billion as of September 1, the foreign exchange reserves have dipped to $584.742 billion, the lowest in more than five months, on October 6, the RBI data showed.
Reserve Bank of India's wider NDF access may require foreign exposure proof, say bankers
April 25, 2023 1:10 pm
The Reserve Bank of India, while announcing its last policy decision, said it will permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to local residents.
RBI grants AU Small Finance Bank to deal with foreign exchange
April 19, 2023 4:22 pm
AU Small Finance Bank said it has received permission from Reserve Bank of India to deal in foreign exchange.
Forex kitty down $15 bn in Feb as RBI steps in to stem rupee fall
February 25, 2023 12:22 am
The valuation loss on account of dollar appreciation against the major currencies also led to erosion in the country’s foreign exchange reserves during the month.
Remittances for overseas studies fall 42% in first 9 months of FY23
February 21, 2023 6:05 pm
Under the LRS, a resident can take out foreign exchange up to $250,000 annually for various purposes like travel, gift, studies abroad, maintenance of relatives, purchase of property, medical treatment and donations.
Forex reserves rise for 2nd week in a row
January 28, 2023 2:16 am
"Net FDI flows remain strong and foreign portfolio flows have resumed since July 2022, with intermittent outflows from time to time. The size of forex reserves is comfortable," Shaktikanta Das, Governor, RBI said at an event.
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