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Mumbai, Nov 10 (PTI) The rupee depreciated 6 paise to settle at 88.71 (provisional) against the US dollar in a muted session on Monday, weighed down by elevated crude oil prices. However, positive domestic equity markets and a soft US dollar cushioned the rupee's downside, forex traders said. At the interbank foreign exchange market, the rupee opened at 88.64 against the American currency, and touched an intraday high of 88.64 and a low of 88.71 against the greenback during the day. The domes ...Read More >
New Delhi, Nov 10 (PTI) NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), on Monday announced a partnership with BENEFIT, Bahrain's leading fintech and electronic financial transactions company, to enable real-time cross-border remittances between India and Bahrain. This linkage will connect India's Unified Payments Interface (UPI) with Bahrain's Electronic Fund Transfer System (EFTS), specifically, Fawri+ service, allowing u ...Read More >
Mumbai, Nov 4 (PTI) The rupee recovered from the record low level and settled with a gain of 11 paise at 88.66 (provisional) against the US dollar on Tuesday boosted by falling crude oil prices overseas. Forex traders said a firm dollar, outflow of foreign funds and subdued domestic equity markets prevented a sharp gain in the Indian currency. At the interbank foreign exchange, the rupee opened at 88.55 and hit the intra-day high of 88.28 against the greenback. The unit also touched a low of 8 ...Read More >
Mumbai, Oct 28 (PTI) The rupee depreciated 21 paise to 88.40 against the US dollar in early trade on Tuesday, weighed down by month-end dollar demand from importers and a surge in global crude oil prices. Forex traders said investors are keeping a watch on Federal Reserve's policy decision on Wednesday for further cues. Markets are assigning a 97.8 per cent probability to a 25-basis-point rate cut, with another one expected in December, they said. At the interbank foreign exchange market, the ...Read More >
Mysuru: Prime Minister Narendra Modi on Sunday praised the coffee being produced in the state and its growing popularity. In 'Mann Ki Baat,' Modi stated that Indian coffee is becoming very popular all over the world. Be it Chikkamagaluru, Kodagu, and Hassan in Karnataka, or the Biligiri region on the Karnataka-Tamil Nadu border; the diversity of Indian coffee is truly remarkable, he stated.Coffee Board chairman MJ Dinesh thanked the Prime Minister for speaking about Karnataka coffee. "It will be ...Read More >
While India continues to attract record levels of foreign investment and corporate expansion, Pakistan has witnessed a steady retreat of global firms... While India continues to attract record levels of foreign investment and corporate expansion, Pakistan has witnessed a steady retreat of global firms across sectors. This contrast reflects not only macroeconomic trends but also the underlying business culture, regulatory frameworks, and institutional capacity that shape investor confidence and ...Read More >
New Delhi [India], October 26 (ANI): India's foreign exchange reserves rose by USD 4.5 billion in the week that ended October 17 to USD 702.280 billion, primarily driven by a rise in gold reserves, the Reserve Bank of India (RBI) said in its latest 'Weekly Statistical Supplement'. The country's forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. For the reported week, India's foreign currency assets (FCA), the largest component of foreign exchang ...Read More >
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends. Nigerian industrialist Aliko Dangote's net worth has hit $30 billion, according to the latest Bloomberg Billionaires Index. The index revealed that Dangote's fortune now stands at $29.8 billion, up $5.71 million from the previous day and $1.73 billion year-to-date. The increase comes amid strong performances from his liste ...Read More >
NEW DELHI, Oct. 25 (Xinhua) -- India's foreign exchange (forex) reserves rose by 4.496 billion U.S. dollars to 702.28 billion dollars during the week ending Oct. 17, mainly driven by a significant increase in the value of gold reserves, according to the latest data released by the country's central bank, the Reserve Bank of India (RBI). This was the first occasion when India's forex reserves rose after declining for four consecutive weeks. According to the data, the foreign currency assets (FC ...Read More >
Indian rupee (left) and US dollar currency notes are held by a foreign exchange employee. File/AFP India will not accept limits on its trading choices or rush to sign agreements, Trade Minister Piyush Goyal said on Friday, even as a senior government official said a bilateral trade deal with Washington was "very near." "India will not sign any trade deal in a hurry," Goyal said during a speech at the Berlin Global Dialogue, referring to European Union and the US concerns over India's continued ...Read More >
Mumbai, Oct 20: The rupee rose 9 paise to close at 87.93 (provisional) against the US dollar on Monday, supported by foreign fund inflows and lower crude oil prices. Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93 (provisional), higher by 9 paise against its previo ...Read More >
Mumbai, Oct 20 (PTI) The rupee rose 9 paise to close at 87.93 (provisional) against the US dollar on Monday, supported by foreign fund inflows and lower crude oil prices. Positive sentiments in the domestic equity markets lent further support to the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 87.94 against the US dollar and traded in the range of 87.74-87.94 during the day before settling at 87.93 (provisional), higher by 9 paise against its p ...Read More >
BENGALURU :Bank Indonesia (BI) will cut its key interest rate at its fourth consecutive meeting on Wednesday, taking it to 4.50 per cent, as policymakers put greater weight on supporting economic growth despite continued weakness in the rupiah, a Reuters poll of economists showed. Last month, the central bank surprised markets with a rate cut and Governor Perry Warjiyo said it was going "all out" to bolster growth while maintaining financial market stability. The rupiah has regained some groun ...Read More >
The Directorate of Enforcement (ED), Hyderabad Zonal Office, carried out searches at five locations in the city on October 16 and unearthed illegal money-changing activities by several firms operating without valid Reserve Bank of India licences. The searches were conducted at the offices of Prism Forex Private Limited, Garuda Forex Services Private Limited, Sree Vimal Nath Forex Private Limited, Victory Forex & Travel Services Private Limited, and Digital Forex Private Limited. According to th ...Read More >
Hyderabad: The Directorate of Enforcement (ED), Hyderabad Zonal Office, on Friday conducted searches at five locations in the city targeting full-fledged money changers (FFMCs). The firms raided include Prism Forex Private Limited, Garuda Forex Services Private Limited, Sree Vimal Nath Forex Private Limited, Victory Forex and Travel Services Private Limited, and Digital Forex Private Limited. According to ED officials, the FFMCs and their managements were allegedly operating illegally without v ...Read More >
The Indian rupee has made a strong recovery against the US dollar. This rebound comes after the US Federal Reserve signaled potential rate cuts. Falling crude oil prices and intervention by the Reserve Bank of India also supported the rupee. The dollar index has eased, boosting investor confidence in the domestic currency. Stock markets are also showing gains. The rupee recovered 88 paise from its all-time closing low to 87.93 against US dollar in early trade on Wednesday, on easing dollar inde ...Read More >
Mumbai: The rupee appreciated 21 paise to 87.75 against the US dollar in early trade on Friday, supported by a softer American currency against major currencies and likely intervention by the Reserve Bank of India.Forex traders said renewed foreign fund inflows and lower crude oil prices boosted investor sentiment further. At the interbank foreign exchange market, the rupee opened at 87.91 and then gained ground and touched an early high of 87.75 against the US dollar, registering a gain of 21 ...Read More >
MUMBAI, Oct 16: The rupee appreciated for the second consecutive session on Thursday, rising 12 paise to close at 87.96 against the US dollar. The gain was supported by a weaker dollar against major global currencies, renewed investor risk appetite, likely Reserve Bank of India (RBI) intervention, and strong domestic equity market performance. At the interbank foreign exchange, the rupee opened at 87.76, touched an intraday high of 87.68, and finally settled at 87.96, up from Wednesday's close ...Read More >
Cochin Shipyard and Mazagon Dock signed MoUs with Tamil Nadu agencies to set up major shipbuilding complexes. Image: Pixabay | representational With the government announcing investments to the tune of Rs 69,725 crore for shipbuilding and maritime reform in India this year, the sector is entering a promising phase of growth. Shipbuilding, often termed the "mother of heavy engineering", plays a central role by generating employment, attracting investment, and strengthening national security and ...Read More >
New Delhi [India], October 16: India's shipbuilding industry is charting an ambitious new course -- from a modest player in global ship construction to a serious contender among the world's top five shipbuilding nations by 2047. Backed by bold government reforms, strategic investments, and strong advocacy from the Shipyards Association of India (SAI), the sector is entering what many call its most transformative phase yet. Also Read | OnePlus 15, OnePlus Ace 6 Launch Expected in China on Octobe ...Read More >
PNN New Delhi [India], October 16: India's shipbuilding industry is charting an ambitious new course -- from a modest player in global ship construction to a serious contender among the world's top five shipbuilding nations by 2047. Backed by bold government reforms, strategic investments, and strong advocacy from the Shipyards Association of India (SAI), the sector is entering what many call its most transformative phase yet. A Sea of Opportunity Despite having one of the world's longest coa ...Read More >
Mumbai, Oct 16 (PTI) The rupee appreciated 40 paise to 87.68 against the US dollar in early trade on Thursday, primarily driven by central bank intervention, a softer dollar index. Forex traders said other supportive factors like positive domestic equities, lower crude oil prices and renewed foreign fund inflows also boosted investor sentiments. At the interbank foreign exchange market, the rupee opened at 87.76 and then gained ground and touched an early high of 87.68 against the US dollar, r ...Read More >
Empowering Indian travellers with smarter, seamless, and borderless spending MUMBAI, India, Oct. 14, 2025 /PRNewswire/ -- Wizz Financial, a first truly global Indian fintech group, proudly announces the launch of the AI-enabled 'Wizz Voyager' multi-currency card, in direct partnership with Visa, a global leader in digital payments, marking a groundbreaking milestone in India's travel and fintech landscape. Designed for today's global citizens, the Wizz Voyager card allows seamless spending in ...Read More >
Mumbai, Oct 9 (PTI) The rupee traded with a slight negative bias and hovered near its all-time low levels before settling for the day at 88.79 against the US dollar, lower by 4 paise on Thursday, as strong greenback demand and ongoing trade tensions between India and the US weighed on investor sentiments. Forex traders said the USD/INR pair is trading in a tight range as absence of economic data from US amid the government shutdown may also lead to consolidation. At the interbank foreign excha ...Read More >
The Enforcement Directorate (ED) searched 17 premises in Tamil Nadu and Kerala on Wednesday (October 8) as part of a big operation related to a case of smuggling luxury cars and breaching foreign exchange restrictions. The police searched the houses and belongings of Malayalam cinema stars Amit Chakkalakkal, Dulquer Salmaan, and Prithviraj Sukumaran. The operation covered 17 premises, including the residences and establishments of film stars Dulquer Salmaan, Prithviraj Sukumaran, and Amit Chak ...Read More >
Mumbai, Oct 7 (PTI) The Reserve Bank on Tuesday said bill payment system Bharat Connect has been linked with foreign exchange retail platform, enabling individual customers to buy US dollars in the form of currency notes, forex card load or for outward remittances at competitive prices. With the linkage, customers will be able to access USD through their preferred payment/banking apps integrated with the Bharat Connect or Bharat Bill Payment System (BBPS) platform. Currently, five lenders -- A ...Read More >
New Delhi, Oct 3 (SocialNews.XYZ) Industry association Engineering Export Promotion Council of India (EEPC India) on Friday welcomed the relaxation of Merchanting Trade Transaction (MTT) rules, saying that it would significantly improve the ease of doing business, particularly for small exporters and retailers. The Reserve Bank of India (RBI) has eased the MTT rules by extending the time period for outlay of foreign exchange from four to six months, effective as of October 1, 2025. The central ...Read More >
MUMBAI: While the RBI-led MPC has underwhelmed headline-seekers with its unanimous vote for status-quo on the benchmark rates, the Reserve Bank has overwhelmed them with a flurry of measures -- as many as 22 regulatory changes to count -- aimed at improving customer convenience, credit flow to the economy and individuals, and the overall ease of doing business for all along with reducing the compliance cost for regulated entities. Unveiling the 22 additional measures, Governor Sanjay Malhotra s ...Read More >
New Delhi: India's civil aviation sector, which is among the fastest growing in the world, was in for a jolt when the Directorate General of Civil Aviation (DGCA) released the country's rankings of Flying Training Organizations (FTOs) for the first time. The rankings were released on Tuesday under a new framework created by the DGCA Director Faiz Ahmed Kidwai for allowing transparency and accountability to the pilot training ecosystem. The rankings have inferred that there were no flying school ...Read More >
New Delhi, Oct 1 (SocialNews.XYZ) Economists and industry experts said on Wednesday said that amid a major demand push after the reduction in the GST rates, the RBI has adopted a cautious approach of holding the repo rate at 5.5 per cent. "It will also help navigate the global uncertainties and choppy waters. With low inflation and steady policies, corporates can plan their finances carefully and invest wisely," said Srinivasan Vaidyanathan, Operating Partner, Essar Capital. "While this stance ...Read More >
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