Page 8 - Forex

RBI intervenes to claw rupee back from fresh intraday low vs dollar

Central bank may have sold around $1 billion in Fx market on Thursday

RBI's currency intervention ends up hurting rupee carry trade: Analysts

The Reserve Bank of India's currency intervention is making the rupee less attractive for carry traders, analysts said.

Flows into NRIs deposits moderate to $1.43 billion in Apr-Aug period

Outstanding NRI deposits declined to $134.68 billion at the end of August 2022 from $141.52 billion a year ago

A first in 9 weeks: Foreign exchange reserves rise by $204 million

Analysts said there was an increase in the forex reserves, even as the RBI did not discontinue shielding the rupee from excessive volatility through sales of the dollar

RBI asks banks to stop building positions in offshore market: Report

The build-up of positions in this segment of the market is forcing the RBI to spend more reserves to defend the rupee

Top Headlines: Global trade growth forecast; world currency reserves shrink

India's merchandise exports could face major headwinds next year with the WTO slashing its forecast for global trade volume growth to 1 per cent from 3.4 per cent

Rupee hits new low, inches towards 82 per dollar on hawkish US Fed

So far in 2022, the rupee has depreciated around 9.2% against US dollar

Rupee depreciates 40 paise to all-time low of 81.93 against US dollar

The rupee depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing. On Tuesday, the rupee consolidated in a narrow range and settled 14 paise higher at 81.53 against the dollar. The rupee opened weaker on Wednesday as the dollar resumed its upward momentum supported by hawkish Fed talk, said Sriram Iyer, Senior Research Analyst at Reliance Securities. The local unit could track the weakness of the Asian and emerging market peers, Iyer said, adding that a delay in local bonds' inclusion for listing on a major global index this year could al

Forex reserves shrink faster than under 2008 global crisis, taper tantrum

BoP deficit, longer US tightening cycle may lead to slower pace of RBI intervention

RBI net-sold $19.05 billion in forex market in July to protect rupee

RBI's forward purchases fell $9 bln in July as interventions spread across spot, forwards

RBI releases 'alert list' of 34 entities barred from forex trades

List not exhaustive, must not assume those not on it are authorised for such trades

UP drafts 'services export' policy to attract investors, earn forex

UP is targetting to increase merchandise exports to almost Rs 3 trillion in the next three years

Rupee falls 40 paise to close at 79.6 against USD as risk appetite declines

Lower global crude prices and a rally in domestic equities restricted the losses to some extent, forex dealers said.

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

Bangladesh's forex reserves enough to cover up to 9 months of imports: PM

Bangladesh Prime Minister Sheikh Hasina said her country would be able to meet 6-9 months of import expenditures with the existing foreign currency reserves

Bangladesh seeks $4.5-billion IMF loan amid forex worries: Report

Known for its big garment-exporting industry, Bangladesh has sought the funds for its balance of payment and budgetary needs, as well as for efforts to deal with climate change

India's foreign exchange reserves drop $7.5 billion to $572.7 billion

Foreign exchange reserves depleted around $70 billion from its peak in September 2021

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

Amid hiked dollar demand from oil importers, rupee falls 4 paise to 79.96

The rupee depreciated 4 paise to 79.96 against the US dollar in opening trade on Wednesday amid demand for dollar from oil importers and firm crude oil prices

Explained: What happens if the rupee hits 80 against the US dollar

When the value of a currency falls, imports become dearer and prices of raw materials rise