Page 7 - Foreign Exchange

Monetary policy: SPDs can offer all foreign exchange trade facilities

Decision comes after requests from foreign players; scope of existing licence was restrictive, say primary dealers

ED registered maximum money laundering cases during 2021-22 fiscal: Govt

During the fiscal years between 2012-13 to 2021-22, ED filed a total of 3,985 criminal complaints under the Prevention of Money Laundering Act (PMLA) and 24,893 under the civil law of FEMA.

New SEZ law to focus on job creation and research, not foreign exchange

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

43% of India Inc's foreign exchange revenue comes to IT companies

The companies that have published their forex transaction for FY22 account for nearly 65 per cent of such earnings in the sample

RBI renews statement of commitment to global code on best market practices

The FX Global Code, developed under Bank for International Settlements, Basel, compiles the practices formulated by central banks worldwide

RBI prepared to spend $100 bn more for defending rupee, says report

Most analysts and traders believe worst is yet to come for the rupee, despite the RBI's intent to defend the currency and India's sound macroeconomic fundamentals

Amnesty India rubbishes ED allegations; says govt curbing critics

ED alleged that London-based Amnesty International sent huge sum of foreign contribution to its Indian entities, during Nov 2013-June 2018 in ''guise of business activities,'' to escape FCRA scrutiny

Defending the rupee

Market adjustment should not be delayed for long

RBI measures a step in right direction but forex inflows still seen limited

RBI announced five measures pertaining to the liberalisation of foreign exchange flows into India

RBI measures should help rupee outperform peers in emerging mkts: Experts

The slew of measures announced by Reserve Bank of India (RBI) on Wednesday to enhance foreign exchange inflows should help rupee to outperform its peers in emerging market economies, experts said. RBI said it has been closely and continuously monitoring the liquidity conditions in the forex market and has stepped in as needed in all its segments to alleviate dollar tightness with the objective of ensuring orderly market functioning. It announced five measures to enhance foreign exchange inflows. The Indian rupee, RBI said has depreciated by 4.1 per cent against the US dollar during the current financial year so far (up to July 5), which is modest relative to other EMEs and even major Advanced Economies (AEs). Abhishek Goenka, CEO of IFA Global, said that in a nutshell, RBI has tried to boost short-term dollar inflows with the latest measures. Vivek Kumar, Economist at QuantEco Research, said persistent pressure on rupee has prompted the central bank to diversify its defence strate

Proposed DESH law aims to grant SEZs greater flexibility, but will it work?

Some experts see significant positives, other believe problems associated with older policy will persist

Rupee at a fresh new low as rising oil deepens CAD, inflation concerns

The domestic currency was trading at a fresh record low of 78.597 per US dollar against 78.34 per dollar at the previous close

India's forex reserves drop $5.9 bn in a week as RBI sells dollars

In two weeks, the country's foreign exchange reserves have dropped over $10 billion as the central bank stepped up intervention in the foreign exchange market

Rupee slips by 1 paisa, settles at all-time low of 78.33 against US dollar

During the day, the local unit witnessed an intra-day high of 78.19 and a low of 78.35 against the American currency.

ITC's luxury project in Colombo hit by headwinds as Sri Lanka economy sinks

Company says it remains focused on completing project in expeditious manner

Rupee ends at record low as rebound in crude deepens CAD, inflation worries

Settles at 78.0825 to the dollar as against 77.9800 at 3:30 p.m. on Monday. The previous record closing low for the domestic currency was 78.0700 on June 17

India's foreign exchange reserves decline $4.6 billion to $596 billion

RBI has been selling dollars to curb any rapid depreciation of the rupee

Reserve Bank of India turns net buyer of dollars in April, shows data

According to the latest data, the RBI purchased $1.96 billion in April

India among 12 economies on currency Monitoring List' of US treasury

According to the report, India (with $569.9 billion) has the fourth largest foreign exchange after China ($3.2 trillion), Japan ($1.2 trillion) and Switzerland ($1 trillion)

Ahead of policy decision, RBI steps in to save rupee from hitting a new low

Currency trades in a narrow zone; ends the day at 77.71 against dollar