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Foreign Exchange

Rupee inches higher to 83.44 vs dollar

Rupee inches higher to 83.44 vs dollar

Mon, Jul 08, 2024

The rupee strengthened by 5 paise to 83.44 against the US dollar in early Monday trade amidst a backdrop of decreased American currency and crude oil prices, boosted by foreign fund inflows and positive economic indicators.

India 360: Credit Card Spends Outside India Will Attract 20% TCS - How Users May Be Impacted | EXPLAINED

India 360: Credit Card Spends Outside India Will Attract 20% TCS - How Users May Be Impacted | EXPLAINED

Thu, May 18, 2023

The central government recently amended rules under the Foreign Exchange Management Act to bring international credit card spending under the Liberalised Remittance Scheme (LRS). As a result of the move, the spending by international credit cards will also end up attracting a higher rate of Tax Collected at Source (TCS) at 20%, effective July 1. Why your foreign trips will get costlier? How expensive has international shopping become after 20% TCS? Watch this special discussion with Deepak Dobhal.

India's foreign exchange reserves fall to $584.24 billion

India's foreign exchange reserves fall to $584.24 billion

Sat, Apr 29, 2023

Incidentally in October 2021, the country`s forex reserves had reached an all-time high of $645 billion.

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Rupee inches up 9 paise in early trade

Rupee inches up 9 paise in early trade

Fri, Dec 23, 2016

Forex dealers said that besides selling of the American unit by exporters, the dollar's weakness against some currencies overseas supported the rupee but a lower opening of the domestic equity market restricted the gains.

Rupee near record low, at 68.79 to a dollar

Rupee near record low, at 68.79 to a dollar

Thu, Nov 24, 2016

During opening trade, INR fell 0.3% and was trading at 66.7950 to a dollar. Bloomberg data show that this is the lowest point in three years for the rupee.

GSTN, DGFT agreement to strengthen processing of exporter tax transactions, boost robotics

GSTN, DGFT agreement to strengthen processing of exporter tax transactions, boost robotics

Fri, Oct 28, 2016

State-owned IT service provider, Goods and Services Network (GSTN) signed a Memorandum of Understanding (MoU) with Director General of Foreign Trade (DGFT) for sharing of foreign exchange realisation and Import Export code data on Thursday.

Forex reserve dips for second straight week to $366.1 billion

Forex reserve dips for second straight week to $366.1 billion

Fri, Oct 21, 2016

Since the start of year 2016, forex reserves had touched a new high week after week as RBI built up its reserves to prepare against externalities.

India's FX, stock markets to stabilise within days: Shaktikanta Das

India's FX, stock markets to stabilise within days: Shaktikanta Das

Thu, Sep 29, 2016

India's rupee and stock markets will stabilise in a few days, Economic Affairs Secretary Shaktikanta Das said on Thursday, following a sharp fall in the markets after India launched attacks on suspected militants.

Foreign tourist arrivals grew by 12% in August; brought in over Rs 12,900 crore

Foreign tourist arrivals grew by 12% in August; brought in over Rs 12,900 crore

Wed, Sep 21, 2016

The growth rate in foreign exchange earnings (FEE) in rupee terms during August 2016 over August 2015 was 13.1% as compared to the growth of 9.9% in August 2015.

SIT tells RBI to share crucial info on black money with govt agencies

SIT tells RBI to share crucial info on black money with govt agencies

Mon, Sep 05, 2016

The SIT has also asked the Revenue Department to identify a single point agency in the Revenue Department which could access the above three databases and could thereafter disseminate them to various Enforcement Agencies.

Forex reserves up $ 1 billion, at record high of $ 367 billion

Forex reserves up $ 1 billion, at record high of $ 367 billion

Fri, Aug 26, 2016

The country's foreign exchange reserves increased by a healthy $ 1.346 billion to touch a record high of $ 367.169 billion in the week to August 19 mainly due to a rise in foreign currency assets (FCAs). Last week, the reserves had shot up by $ 73.2 million to $ 365.822 billion.

Cabinet approves amendment for foreign investment in NBFCs

Cabinet approves amendment for foreign investment in NBFCs

Wed, Aug 10, 2016

The amendment will enable inflow of foreign investment in "Other Financial Services".

India's forex reserves down by $970 million

India's forex reserves down by $970 million

Sat, May 21, 2016

India's foreign exchange reserves went down marginally by $970 million to $361 billion as on May 13, the Reserve Bank of India (RBI) said. According to RBI's foreign exchange data, the reserves stood at $361.02 billion as on May 13, against $361.99 billion as on May 6.

Rupee stutters, falls 4 paise against dollar

Rupee stutters, falls 4 paise against dollar

Fri, May 20, 2016

The dollar was firm against some global currencies after minutes of US Fed's April policy meeting hinted at the possibility of a June rate hike, which made the rupee slide further, dealers said.

Rupee slides 6 paise against dollar to 66.61

Rupee slides 6 paise against dollar to 66.61

Thu, May 05, 2016

The rupee had closed 13 paise lower at 66.55 at the Interbank Foreign Exchange yesterday.

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