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Related Forex News

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  Rupee ends nearly flat, state-run banks' dollar sales offset outflows

  Nov 13, 2024, 03:57PM IST

  The Indian rupee closed nearly unchanged on Wednesday, as dollar sales by state-run banks helped the currency withstand pressure from equity outflows and persistent strength in the U.S. dollar.

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  Divi's Laboratories Q2 Results: PAT jumps 46% YoY to Rs 510 crore on forex gain

  Nov 9, 2024, 02:47PM IST

  Divi's Laboratories Q2 Results: The company reported a 22.5% year-on-year revenue increase in Q2, reaching Rs 2,338 crore, up from Rs 1,909 crore in the previous year’s corresponding quarter. Profit before tax rose to Rs 722 crore, compared to Rs 469 crore in the same period last year.

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  Dollar on track for weekly gain after Trump election win

  Nov 9, 2024, 09:44AM IST

  The dollar strengthened against major currencies, heading for a weekly gain as investors assessed the potential impact of Donald Trump's surprise election victory on the U.S. economy. While Trump's policies are expected to boost growth and inflation, uncertainty remains over their implementation. Market volatility reflects this uncertainty as investors await policy details.

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  India's forex kitty falls $2.6 billion to $682 billion as of November 1

  Nov 9, 2024, 01:00AM IST

  India's forex reserves decreased by $2.6 billion to $682.1 billion for the week ending November 1, as the Reserve Bank of India likely intervened to support the weakening rupee. The rupee fell slightly against the dollar, closing at 84.07, after hitting a record low during the week. Outflows from Indian stocks and bonds contributed to the pressure on the currency.

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  RBI includes spot deals to expand forex reporting requirements

  Nov 8, 2024, 07:06PM IST

  The Reserve Bank of India is expanding reporting requirements for foreign exchange transactions. Starting February 10, 2025, authorized dealers must report all spot deals, including cash and tom transactions, to the Clearing Corporation of India's trade repository. This move aims to enhance transparency and data completeness in the foreign exchange market.

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  India's forex reserves fall to $682.13 billion, down $2.6 billion as of Nov 1

  Nov 8, 2024, 05:06PM IST

  India's foreign exchange reserves experienced a decrease of $2.6 billion, settling at $682.13 billion by November 1st, as reported by the Reserve Bank of India. This decline was primarily attributed to a reduction in Foreign Currency Assets. Despite this, India maintains its position as the fourth largest holder of foreign exchange reserves globally.

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  Rupee falls 5 paise to all-time low of 84.37 against US dollar in early trade

  Nov 8, 2024, 10:24AM IST

  The Indian rupee hit a new all-time low against the US dollar due to foreign fund outflows and weak domestic equities. The US Fed's recent interest rate cut and potential future cuts are influencing the rupee's trajectory. Despite market volatility, experts predict the RBI will maintain a controlled range for the rupee against the dollar.

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  RBI can handle forex swings well: Deputy Guv Rabi Sankar

  Nov 8, 2024, 12:28AM IST

  RBI Deputy Governor Rabi Sankar expressed confidence in India's ability to navigate potential market volatility stemming from the Trump presidency. Sankar highlighted India's robust reserves and sound banking system as key strengths. Additionally, he firmly rejected the European Securities and Markets Authority's demand for oversight of India's bond clearing platform, citing sovereignty concerns.

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  Trump's US election win prompts calls for Indian firms to be cautious on forex risks

  Nov 7, 2024, 01:01PM IST

  The Indian rupee's period of low volatility is at risk with Donald Trump's potential return to the U.S. presidency. The rupee has already plummeted to record lows against the U.S. dollar, prompting experts to advise companies to proactively manage their foreign exchange risks. Increased uncertainty and volatility are anticipated for Asian currencies, including the typically stable Indian rupee.

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  Dollar soars, euro tumbles as Trump wins US presidential election

  Nov 7, 2024, 07:10AM IST

  The dollar surged to a four-month high after Donald Trump's victory in the U.S. presidential election. Markets reacted to expectations of policies that could accelerate U.S. growth and inflation. Trump's proposed tariffs and deregulation could impact global economies and currency markets. While the immediate impact was a stronger dollar, Trump's preference for a weaker currency adds uncertainty to long-term forecasts.