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The local currency moved in a tight range of 82.93 to 82.95 to a dollar in early deals. The rupee traded at 82.95, down 5 paise, against the US dollar at 9.15 am.
India's foreign exchange reserves saw a substantial increase of $10.47 billion to reach $636.1 billion for the week ending on March 8, as per the latest data released by the Reserve Bank of India (RBI). This follows a previous surge of $6.55 billion, bringing the reserves to $625.63 billion for the week ended March 1, 2024.
India's foreign exchange reserves have risen by $6.55 billion to reach $625.63 billion for the week ending March 1, as per the latest data from the Reserve Bank of India (RBI). This follows a previous increase of $2.98 billion to $619.07 billion for the week ended February 23, 2024.
At the interbank foreign exchange, the rupee opened at 82.74 against the dollar, but soon pared the losses and touched 82.64 against the greenback in initial trade, higher by 3 paise from its previous close.
It's unclear why the information was sought, but the Income Tax (I-T) department has directed these offshore funds to disclose the identities of the lenders, the latter's source of money, and the nature of agreement between the two parties. The move to fish out such information could well be to trace any possible and indirect links between overseas portfolio managers with Indian companies and promoters, feel some of the tax and finance professionals.
The rupee was at 82.7750 against the U.S. dollar as of 10:25 a.m. IST, up 0.05% compared with its close of 82.8225 in the previous session.
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- Go To Page 1Rupee closes at 6-month high of 82.83 on strong inflows, weaker dollar
The domestic currency settled at 82.83 per US dollar on Wednesday, its strongest closing level since September 4, 2023, Bloomberg data showed. On Tuesday, the rupee had closed at 82.90 per US dollar.
Global bond inclusion inflows help rupee buck EM currency lossesThe rupee was broadly steady versus the dollar in the past two months, making it the sole developing-nation currency to avoid a decline as the greenback charged ahead during that period. The advance came as global funds pumped almost $5 billion into Indian bonds to position for the nation’s inclusion in global indexes in the coming months.
Binance to stop services in Nigerian Naira amid crackdown on crypto exchangesIt will stop supporting withdrawals after Friday and any remaining balances in Nigerian Naira will be automatically converted into Tether - a stablecoin whose value is pegged to the U.S. dollar.
Rupee rises 4 paise to 82.87 against US dollar in early tradeAt the interbank foreign exchange, the domestic currency opened at 82.86 and slipped further to trade at 82.87 against the greenback, registering a gain of 4 paise from its previous close.
India's forex reserves up by $2.98 bn to $619.1 bn as of Feb 23India's foreign exchange reserves increased by $2.98 billion to reach $619.07 billion for the week ending February 23, as per data from the Reserve Bank of India (RBI). This rise follows a previous drop of $1.13 billion to $616.1 billion in the week ended February 16, 2024.
India's forex reserves dip by $1.13 bn to $616.1 bn as of Feb 16India's foreign exchange reserves decreased by $1.13 billion to $616.1 billion for the week ending February 16, as per Reserve Bank of India (RBI) data. Foreign currency assets (FCAs) dropped by $740 million to $545.78 billion, including the effect of non-US units' appreciation or depreciation. Gold reserves fell by $362 million to $47.38 billion, while SDRs decreased by $28 million to $18.11 billion.
Rupee rises 2 paise to 82.89 against US dollar in early trade The rupee appreciated 2 paise to 82.89 against the US dollar in early trade on Thursday, tracking a weak American currency and a downward trend in the crude oil prices.
Rupee turns flat at 82.89 against US dollar in early tradeAt the interbank foreign exchange, the local currency opened at 82.90 and then inched up to trade at the previous day's closing level of 82.89 against the greenback.
Rupee turns flat at 82.88 against US dollar in early tradeAt the interbank foreign exchange, the local currency opened at 82.87 and then slipped further to trade at 82.88 against the greenback, the previous day's closing level.
SEBI warns against fraudulent trading schemes offered by FPIsThe Securities and Exchange Board of India has cautioned against fraudulent trading platforms, claiming to have affiliations with registered foreign portfolio investors and offering trading opportunities to resident Indians.
Rupee settles 2 paise higher at 82.89 against US dollarThe rupee gained 2 paise to settle at 82.89 (provisional) against the US dollar in a range-bound trade on Monday, tracking volatility in the equity market. Forex traders said inflow of foreign funds and softer crude oil prices provided support to the Indian currency.
Rupee rises 2 paise to 82.89 against US dollar in early tradeAt the interbank foreign exchange, the local currency opened at 82.88 and slipped further to 82.89 against the greenback, registering a gain of 2 paise from the previous close.
Rupee ends at over 5-month high, tracking Asian peers, foreign fund inflows The Indian rupee closed at its strongest level in more than five months on Thursday, aided by an uptick in its Asian peers and on the back of dollar inflows into the domestic share and bond markets.
Rupee inches higher as importers cap gains from foreign banks' dollar salesThe Indian rupee ended slightly higher on Tuesday as dollar demand from importers capped gains that came on the back of likely inflows, traders said.
India's forex reserves dip by $5.24 bn to $617.23 bn as of Feb 9India's foreign exchange reserves dip by of $5.24 billion to $617.23 billion for the week ending on February 9, latest data by Reserve Bank of India (RBI) showed on Friday.
Rupee ends stronger on foreign banks' dollar sales, uptick in Asia FXThe Indian rupee gained on Wednesday, in line with most of its Asian peers, on the back of dollar sales from two large foreign banks. The rupee ended at 82.9675 against the U.S. dollar, up 0.11% compared with its close at 83.0550 in the previous session.
Govt allows direct listing of Indian companies on GIFT City's exchangesRupee ends lower weighed by foreign banks, oil cos' dollar appetiteThe dollar index was lower at 103.25 while most Asian currencies gained. The Japanese yen was up nearly 0.2% after the Bank of Japan maintained its ultra-easy monetary settings on Tuesday but gave hints that the policy might be tweaked at its next meeting.
No trading in government bonds, foreign exchange and money markets on January 22: RBIThe 3-day variable rate repo (VRR) auction conducted by the RBI on Friday, which is scheduled to reverse on January 22, will now be reversed on January 23. Meanwhile, a 3-day VRR auction that the RBI had earlier said would be conducted on January 22 stands cancelled and instead a 2-day VRR auction will be carried out on January 23.
Rupee rises 18 paise to 82.77 against US dollar in early tradeThe rupee appreciated 18 paise to 82.77 against the US dollar supported by bullish domestic equities. The domestic currency opened at 82.82 and touched 82.77 against the greenback, registering a rise of 18 paise. The rupee strengthened for the eighth consecutive session to settle with a gain of 6 paise to 82.95 against the US dollar. The inflows are expected to continue and will keep the pair of USDINR on the downside as a major support.
Rupee closes slightly higher supported by dollar inflowsThe dollar index edged lower to 102.14 after touching a more-than-two-week high in the New York session, supported by an uptick in U.S. yields and tepid risk appetite.
Rupee dips 3 paise to 83.13 against US dollar in early tradeThe rupee, however, found support due to marginal weakness in American currency and positive sentiment in the equity markets, forex traders said.
RBI refines extant framework for FX hedge to enhance efficiency, ease of accessBased on the feedback from the market, the regulatory framework has been made more comprehensive by consolidating directions for all types of transactions – over-the-counter (OTC) and exchange-traded - under a single Master Direction, the RBI said in a release.
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