Forex News

Unauthorised forex trading platform: The Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements.

India's foreign currency assets, the biggest component of the forex reserves, declined by USD 4.014 billion to USD 520.931 billion, the latest data showed.

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies. This sharp decline in the country`s foreign currency assets coincides with the week during which the rupee hit an all-time low. The Indian rupee plunged to a record low of 77.02 against a US dollar on March 7.

He said forex reserves have constantly grown to USD 638 billion in September this year. FDI inflows in the first four months of the current fiscal rose by 62 per cent. Goyal further said the government has taken several steps to encourage growth.

A good mentor will help you make decisions that guide you forward, build your confidence, and help you overcome anything that might be holding you back

ED has issued notices to Flipkart, its founders and nine others in connection with foreign exchange violation case. A senior ED official related to the probe said that a notice has been issued to Flipkart, its founders and nine others. ED has asked to explain why they should not face a penalty of $1.35 billion for alleged violation of foreign investment laws.

An internal working group was set up last year to study the current timings of various financial markets regulated by the Reserve Bank, including instruments traded on exchanges.

The Reserve Bank on Thursday said foreign exchange trading platform (FX-Retail) for retail participants is ready for rollout by the Clearing Corporation of India Ltd (CCIL) on August 05.

Markets yesterday took a breather after a six-session dizzying rally, with benchmark indices Sensex and Nifty skidding from their closing peaks after emergence of sell-off in recent high-flying counters.

Yesterday, the rupee had ended lower by 3 paise at 63.87 against the US currency.

However, Indian travellers persist in ignoring a crucial aspect of foreign travel - buying foreign currency.

Recently, American brokerage Morgan Stanley had estimated that the reserves could hit the USD 400-billion-mark by the week to September 8.

FCAs, a major component of the overall reserves, rose by USD 964.4 million to USD 369.723 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

Stretching its strong recovery momentum for the third straight day, the rupee on Friday rose by 4 paise to a fresh one-week high of 64.44 against the US dollar on sustained selling of the American currency by exporters.

Regulators and leading financial firms launched a new code of conduct for global currency trading on Thursday, including measures aimed at ensuring its universal adoption by the world`s major financial institutions.

The rupee pared its early gains to trade down by 5 paise at 64.94 against the dollar on emergence of demand for the US currency from importers and banks despite higher local equities.

BSE, NSE, Forex, Money Market, Bullion and other major commodity markets will remain close on Friday, on account of "Dr Baba Saheb Ambedkar Jayanti" and "Good Friday"

The forex kitty had increased by $ 1.15 billion to $ 367.93 billion in the previous reporting week.

Building on yesterday's massive gains, the rupee on Thursday soared by 34 paise to end at a fresh 3-month high of 66.85 against the US dollar on frantic selling of the American currency by exporters and banks.