archiveIndian Currency

The rupee rose 8 paise to 85.58 against the US dollar in early trade on Tuesday (June 10) amid a positive opening in the domestic equity markets and robust foreign capital inflows.However, rising global crude oil prices and a strengthening US dollar against overseas currencies capped sharp gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 85.62 against the greenback before rising further to 85.58, higher by 8 paise against its previous close. The local unit appreciated 2 paise to close...

The Reserve Bank of India (RBI) wants Indian banks to give loans to foreigners in rupees .The RBI has approached the Centre asking for permission to do so.The central bank’s move is the latest step towards the internationalisation of the rupee.But what happened? Why is the RBI making this move?Let’s take a closer lookWhat happened?The RBI wants to allow domestic banks to make loans to overseas borrowers in Indian currency.This would be a historic first for the nation.The central bank has already asked the government to allow domestic banks to...

Kathmandu , May 25 (ANI): Nepal's Central Investigation Bureau (CIB), under the Nepal Police, on Saturday arrested fake Indian currency kingpin Yunus Ansari for investigation into a money laundering case.AdvertisementAnsari was arrested on Saturday as he was released from the Nakkhu Prison, where he completed a six-year prison term in a counterfeit Indian currency case. Immediately after release, Ansari, who is also claimed to have a connection with Dawood Ibrahim, was arrested by the CIB."We arrested Yunus Ansari last evening upon his release from Nakkhu Prison for an investigation into...

The US dollar continues its downward slide, and in turn, currencies in Asia have surged to near a seven-month high. There are at least two reasons for the dollar's descent.First, the likelihood of US President reaching trade deals with multiple countries he's imposed tariffs on has raised the risk appetite in the market for other currencies considered less safe than the greenback. At the same time, the slump in the US economy has increased the odds of interest rate cuts by the US Fed. Will these trends continue? If yes,...

Rupee jumped 25 paise to 85.08 against the US dollar in early trade on Friday, buoyed by robust foreign fund inflows and positive remarks from the US Treasury Secretary indicating India could be the first to sign a trade tariff treaty with the US. Forex analysts noted that India is emerging as a symbol of “quiet strength,” supported by improving macroeconomic fundamentals and increasing global interest. The Reserve Bank of India, in its latest bulletin, highlighted the country’s growing economic resilience, pointing to diversified trade ties and favourable market sentiment....

MUMBAI: The Indian rupee logged its steepest fall in two weeks, pressured by a recovery in the US dollar index and as traders unwound long positions on the local unit after it failed to climb above a key level. The rupee ended 0.3% down at 85.42, against 85.1875 at previous close. The Indian currency struggled to rise above 85 per dollar this week, which led “rupee bulls” to close their long-term positions on the rupee, two traders said. Some traders also cited the attack in India’s Jammu & Kashmir territory...

Trump fired up global trade tensions by announcing a baseline 10% tariff on all imports starting 5 April, with reciprocal tariffs on specific countries from 9 April. India will be hit with a 27% additional tariff, while China’s rate soars to 54%, up from the previous 20%. Gift Nifty futures took a hit earlier this morning, dropping nearly 2%, while Indian benchmark indices Nifty 50 and S&P BSE Sensex fell 1% in pre-open trade. However, Nifty 50 and Sensex later trimmed some losses, ending the day’s trade 0.35% and 0.42%...

Trump fired up global trade tensions by announcing a baseline 10% tariff on all imports starting 5 April, with additional reciprocal tariffs on specific countries from 9 April. India will be hit with a 27% tariff, while China’s rate soars to 54%, up from the previous 20%. Gift Nifty futures took a hit earlier this morning, dropping nearly 2%, while Indian benchmark indices Nifty 50 and S&P BSE Sensex fell 1% in pre-open trade. However, Nifty 50 and Sensex later trimmed some losses, ending the day’s trade 0.35% and 0.42%...

Rupee dropped 26 paise to 85.78 against the US dollar on Thursday morning after US President Donald Trump imposed tariffs on nearly 60 countries, including India. The US has introduced a 27 per cent tax on Indian imports, arguing that India charges high duties on American goods.  The tariffs being implemented were conceived as part of Trump's plan to reduce the US trade deficit and to rejuvenate manufacturing at home. Though expected to adversely affect India's exports to US, experts feel that India is in a relatively better position compared...