Foreign Exchange
Latest news, explainers and analysis on Foreign Exchange. Tracking 15 stories on Arth Vani.
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Latest on Foreign Exchange
BreakingRBI Drains ₹1.66 Lakh Crore Liquidity to Stabilize Rupee, Influence Rates
The Reserve Bank of India (RBI) has pulled approximately $20 billion (around ₹1.66 lakh crore) from the banking system using foreign exchange operations. This significant action aims to manage excess money supply, support the Indian Rupee, and influence short-term interest rates in the economy.
Ant International Launches AI Stack for Global Business Payments, FX & Treasury
China's Ant International has unveiled a comprehensive suite of AI-powered financial products designed for global businesses. This 'AI-native' stack aims to enhance operations across payments, account management, foreign exchange (FX), treasury, and business growth. The new offering seeks to streamline and optimize core financial functions for companies worldwide.
BreakingIndia's Forex Reserves Hit Record $729 Billion, Bolstering Economic Stability
India's foreign exchange reserves have surged to an unprecedented $729 billion, reaching an all-time high. This significant increase of $12.4 billion in a single week was driven by a rise in foreign currency assets and gold reserves, enhancing India's economic resilience. Special forex swap facilities and FCNR-B deposits also contributed to these robust inflows.
Indian Bank to Raise $400 Million via Foreign Loans to Fuel Business Growth
Public sector lender Indian Bank is set to raise $400 million through External Commercial Borrowings (ECB) this week. The bank also plans to secure an additional $600 million by 2026 and targets $2 billion in FCNR(B) deposits to support its digital and expansion goals.
US & Japan Confirm Joint Yen Intervention, Signal Readiness for More Action
Japan's Finance Ministry announced on Monday that it conducted a coordinated yen-buying intervention with the U.S. Treasury on Friday. This rare joint action aims to stabilize the Japanese yen, with both nations signaling their readiness for further interventions if needed.
India’s Forex Reserves Jump $6.1 Billion to Reach $682.35 Billion
India's foreign exchange reserves surged by $6.1 billion to reach a total of $682.35 billion for the week ending July 24. This significant recovery follows a period of volatility caused by geopolitical tensions and active market interventions by the Reserve Bank of India.
Rupee Hits Five-Week High as Middle East Tensions Cool; Closes at 94.71 Against US Dollar
The Indian rupee gained 40 paise to reach a five-week high of 94.71 against the US dollar. This recovery is driven by cooling geopolitical tensions in West Asia and a drop in global crude oil prices.
Rupee Rises to Six-Week High of 94.53: What It Means for Your Wallet
The Indian rupee has climbed to its strongest level in six weeks, closing at 94.53 against the US dollar. This surge, driven by RBI interventions and falling oil prices, offers potential relief for Indians paying for foreign education or planning international trips.
BreakingRupee Makes Strong Comeback: First Quarterly Gain in Five Quarters
The Indian rupee has posted its first quarterly gain in five quarters, a positive development driven by lower global oil prices and policy measures to attract foreign funds. This strengthening of the rupee can help ease inflation and reduce the cost of imported goods for Indian households. While its future rise may be capped by import demand, this rebound signals resilience and an improved economic outlook for India.
Indian Banks Attract ₹1.72 Lakh Crore in Foreign Funds Via RBI Swap Window
Indian banks have mobilized a significant ₹1.72 lakh crore ($20.72 billion) in foreign currency, primarily through a special swap facility offered by the Reserve Bank of India (RBI). This major inflow, largely from Foreign Currency Non-Resident (FCNR) Deposits, strengthens India's foreign exchange reserves and boosts its economic standing.
RBI's Short-Term Dollar Boost: India Needs Long-Term Plan for Rupee Stability
The Reserve Bank of India recently took steps to bring more dollars into the country, aiming to support the Indian rupee. While these actions offer immediate relief, economists caution they are only a temporary fix. India must strengthen its overall economic position, particularly its international trade and investment balance, over the next 3 to 5 years to ensure the rupee remains stable in the long run.
Banks Seek RBI Nod to Help NRIs Switch to Higher Interest Deposits
Indian banks are requesting the RBI to allow NRIs to break existing foreign currency deposits and re-invest them at higher interest rates without heavy penalties. This move follows a temporary RBI scheme to boost dollar inflows by absorbing currency hedging costs.
Rupee Hits Six-Week High as Foreign Inflows and Lower Oil Prices Provide Relief
The Indian Rupee reached its strongest level in six weeks on Thursday, driven by heavy dollar selling from foreign markets and local exporters. This recovery is supported by a dip in global oil prices, offering a breather from recent currency pressure.
RBI Revives FCNR(B) Route to Stabilize Rupee and Attract NRI Dollars
The Reserve Bank of India is re-deploying a trusted strategy to boost foreign currency inflows by encouraging Non-Resident Indians to park funds in FCNR(B) deposits. This move aims to protect the Rupee's value and maintain domestic purchasing power amid global economic pressures.
Better Returns for NRIs as RBI Pushes Banks to Chase Foreign Currency Deposits
The Reserve Bank of India is encouraging banks to aggressively attract Foreign Currency Non-Resident (FCNR(B)) deposits to boost the country's dollar reserves. This move is expected to trigger a rate war among banks, leading to higher interest rates and better incentives for NRI depositors.
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