Tag: Foreign Exchange
17 Results
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When benefactors become villains
In recent years, as Pakistan has hurtled from one catastrophe to another, remittances sent by Pakistani workers living abroad have been a source of some small amount of stability.
November 5, 2022 -
Colombo must adopt rational policies
The government needs to deal with the foreign exchange crisis. Instead of denying the fact that a serious problem exists and hoping that hoped for future flows of foreign exchange would ease the situation, the government needs to take concrete steps to rectify the situation immediately. In a rationally argued position paper, the Pathfinder Foundation has recommended that the government goes to the IMF to secure financial assistance.
December 22, 2021 -
India’s forex reserves swell by over $1 bn
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $748 million to $566.988 billion.
July 10, 2021 -
Indian Rupee surges 13 paise against US dollar
Global oil benchmark Brent crude futures rose 0.41 per cent to USD 68.74 per barrel.
May 25, 2021 -
Hurriyat leader Geelani booked under FEMA, fined for illegal possession of foreign currency
ED sources also said the probe agency will impose a penalty and confiscate the illegal acquisition of foreign exchange recovered from J-K separatist leader Yasin Malik.
March 22, 2019 -
India may be removed from US currency monitoring list of trading partners
The Department of Treasury maintained the same monitoring list but said if India continues with the same practices as in the last six months, it would be removed from its next bi-annual report.
October 18, 2018 -
Customs duty on 19 items hiked; flying, ACs, refrigerators to cost more
The other items include washing machines, speakers, radial car tyres, jewellery items, kitchen and tableware, certain plastic goods, and suitcases.
September 27, 2018 -
Rupee at risk
Amidst several parameters going askew for the Indian economy, two ~ its current account deficit and its sliding rupee ~ are attracting the greatest outcry, more so because of the shrill assault that the present Prime Minister had launched against his predecessor during the 2013 slide of the rupee. At 72.23 to the dollar, the...
September 24, 2018 -
Intervene to check volatility of rupee
At the advent of the new economic policy and globalisation in 1991, the traded at 17.5 to the US dollar. Since then, it has not gained any strength till date. In the last three months the rupee has depreciated from 64 to 67.7 to the dollar. Prior to globalization, the value of the rupee in...
May 21, 2018 -
India’s Forex reserves rise by $1.21 bn
India’s foreign exchange (Forex) reserves increased by $1.21 billion as on April 13, official data showed on Friday. According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the overall Forex reserves rose to $426.08 billion from $424.86 billion reported for the week ended April 6. India’s Forex reserves comprise of foreign currency assets...
April 20, 2018 -
India’s Forex reserves up $1.2 bn, reclaim $400 bn mark
India’s foreign exchange (Forex) reserves kitty increased by $1.20 billion as on November 24, 2017, official data showed on Friday. The Reserve Bank of India’s (RBI) weekly statistical supplement released on Friday showed that the overall Forex reserves rose to $400.74 billion from $399.53 billion reported for the week ended November 17. India’s Forex reserves...
December 2, 2017 -
Rupee weakens 10 paise against dollar
The rupee depreciated 10 paise to 64.51 against the US dollar in early trade on Wednesday at the interbank foreign exchange due to appreciation of the American currency overseas. Dealers also attributed the rupee’s fall to increased month-end demand for the US currency from importers. Domestic equity market opening with gains, however, capped the rupee...
November 29, 2017 -
Rupee sheds 7 paise against US dollar
The rupee depreciated by 7 paise to 64.57 against the US dollar in early trade on Tuesday at the inter bank foreign exchange on month-end demand for the American unit from importers and banks. However, weakness in the US dollar against some currencies in the global market limited the rupee fall, brokers said. On Monday,...
November 28, 2017 -
Tata Capital to divest forex, travel services to Thomas Cook
Financial services provider Tata Capital on Monday announced that it has signed a definitive agreement to divest its foreign exchange and travel services to Thomas Cook (India). The company said it signed the agreement to divest 100 per cent of its shareholding in its wholly owned subsidiaries — Tata Capital Forex (foreign exchange) and TC...
September 25, 2017 -
Hawala diary: Court discharges Jains, others
More than two decades after it triggered a political landslide, a case arising out of the hawala Jain diaries has been closed with a court discharging SK Jain, his employee JK Jain and others of charges of Foreign Exchange Regulation Act violations. Additional Chief Metropolitan Magistrate Jyoti Kler, in a judgement pronounced recently, discharged SK...
September 1, 2017 -
Asian countries with maximum reserves of foreign exchange
China is the world's largest holder of foreign exchange reserves. It has over two and half times more foreign reserves than the second largest reserve holder, Japan. The Asian giant has US$3.483 trillion of foreign exchange reserves, despite recent fall in foreign reserves. China is followed by Japan, with a substantial US$ 1.21 trillion worth...
July 20, 2017 -
Count your stars and your cash too
Admitting kids in the finest of schools, enrolling them in bestin-class coaching centres, and providing them with most-relevant learning aides to boost performance — Indian parents leave no stone unturned when it comes to their child's education. In fact, India ranks only behind China when it comes to sending students abroad for academic purposes, but...
July 10, 2017