With Indian rupee near record low, cenbank steps up NDF intervention
By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has been frequently intervening in the non-deliverable forward (NDF) market to make sure that the rupee does not drop to a…
RBI intervention to keep Indian rupee in a tight range, analysts say – Reuters poll
By Milounee Purohit and Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in a narrow range over the coming three months and then strengthen slightly in a year as the…
Indian rupee rangebound in near term, to rise a bit in a year: Reuters poll
By Shaloo Shrivastava and Anant Chandak BENGALURU (Reuters) – The rupee will hold on to its recent gains against the dollar in coming months and strengthen marginally in a year, on strong…
Indian rupee poised to weaken after central bank pulls 2,000-rupee notes
By Nimesh Vora MUMBAI (Reuters) – The Indian rupee is expected to open weaker against the U.S. dollar after the central bank said it will withdraw the highest value currency note from…
India rupee settlement mechanism draws interest from more nations
By Nikunj Ohri and Shivangi Acharya (Reuters) – India’s rupee trade settlement mechanism, a means of using rupees instead of dollars and other big currencies for international transactions, is attracting interest from…
India’s central bank approves 12 ‘vostro’ accounts for rupee trade – official
NEW DELHI (Reuters) – India’s central bank has given approval to banks to open 12 special “vostro accounts” for trade in rupees with trading partners, its Executive Director Deepak Kumar said on…
India’s HDFC Bank, Canara Bank get approval for rupee trade with Russia – report
BENGALURU (Reuters) – India’s central bank has allowed HDFC Bank Ltd and Canara Bank Ltd to open a special “vostro account” for trade in rupees with Russia, local newspaper Business Standard reported…
India cenbank to start pilot of digital rupee on Nov 1
BENGALURU (Reuters) – The Reserve Bank of India (RBI) will launch the pilot for a central-bank-backed digital rupee for the wholesale segment on Nov. 1, it said on Monday, identifying nine banks,…
Russia’s Sberbank opens ‘vostro’ rupee accounts at India branches
MOSCOW (Reuters) – Russia’s dominant lender Sberbank is offering clients “vostro” accounts in rupees at its branches in India, aiming to facilitate clients in carrying out rupee-denominated trade transactions which are increasing…
India’s RBI intervening in NDF market, monitoring rupee positions – traders
By Nimesh Vora MUMBAI (Reuters) – The Reserve Bank of India has been selling dollars in the non-deliverable forward (NDF) market via local banks based in India’s GIFT City International Financial Services…
India’s RBI sells dollars as rupee hits record low on U.S. rate hike fears
MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee slid below 82 to a record low against the dollar on concerns over…
India’s RBI likely sells dollars as surging U.S. yields hold rupee hostage – traders
MUMBAI (Reuters) – The Indian central bank likely sold dollars via state-run banks on Wednesday as rising Treasury yields and mounting risk aversion pushed the rupee to a record low, traders said.…
India cenbank likely sells dollars as rupee plumbs record low – traders
MUMBAI (Reuters) – The Reserve Bank of India likely sold dollars via state-run banks on Friday after the rupee extended losses to hit a record low, three traders told Reuters. The rupee…
Indian govt not averse to weaker rupee vs dollar – source
By Ira Dugal and Aftab Ahmed NEW DELHI (Reuters) -The Indian government is not averse to a weaker rupee in line with global market fundamentals, a senior official told Reuters, at a…
India’s RBI announces 500 billion rupee overnight repo
The Reserve Bank of India will conduct an overnight variable rate repo auction for 500 billion Indian rupees ($6.25 billion) on Thursday, the central bank said. “On a review of current liquidity…
India not defending rupee, does not need to – says chief economic adviser
NEW DELHI (Reuters) – India does not need to defend the rupee because its economic fundamentals are such that the currency can take care of itself, the country’s chief economic adviser, V.…
Indian rupee set to trade near historic low in coming three months – Reuters Poll
By Arsh Tushar Mogre BENGALURU – India’s rupee will trade near its historic low in the coming three months, despite a recent recovery, based on a widening trade deficit and global flows…
Pakistan imports fall sharply in July, to help rupee stabilise – finance minister
ISLAMABAD – Pakistan imports fell by more than a third in July after a ban on non-essentials, the finance minister said on Sunday, adding the improved trade situation will reduce pressure on…
Indian rupee at over 1-wk high on broad $ losses; bond yields slip
By Swati Bhat and Anushka Trivedi MUMBAI -The Indian rupee rose to its highest in more than a week on Monday afternoon tracking broad losses in the dollar, while bond yields edged…
India cenbank “correct” to use FX reserves to tackle rupee volatility: econ adviser
By Savio Shetty and Divya Chowdhury MUMBAI – The Reserve Bank of India (RBI) is justified in using the country’s foreign exchange reserves to smooth out volatility in the rupee’s moves against…
Exclusive-India central bank prepared to spend $100 billion more defending rupee – source
By Swati Bhat and Aftab Ahmed MUMBAI/NEW DELHI -India’s central bank is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid depreciation after it…
Indian rupee weakens for 11th week in a row as risk aversion continues
By Swati Bhat MUMBAI -The Indian rupee hit a record low on Friday and weakened for a 11th straight week as foreign investors continued to dump riskier assets amid rising concerns around…
Indian bond yields off session highs on short-covering; rupee near 1-month low
By Swati Bhat MUMBAI – The Indian rupee dropped on Monday to its lowest in nearly a month against the dollar, tracking losses in the stock market and weighed by sharp gains…
Bearish bets on Asia FX rise amid Ukraine crisis, rupee shorts near two-year high – Reuters Poll
By Shashwat Awasthi and Harshita Swaminathan – Investors raised their bearish views on most Asian currencies, with short bets on the Indian rupee at a near two-year high, as Russia’s invasion of…
Sri Lanka to allow rupee to weaken to 230 per dollar
By Uditha Jayasinghe COLOMBO – Sri Lanka’s central bank on Monday set an exchange rate limit of 230 rupees to the dollar, effectively allowing a currency depreciation it hopes will attract investment…
Indian trade, current account deficit seen widening, rupee under pressure
By Swati Bhat MUMBAI – India’s trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a…
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