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New Delhi: The Indian Rupee saw its biggest single-day gain in nearly 13 years on Thursday, closing at 93.10 against the US dollar, as authorities stepped up efforts to curb currency speculation. The sharp rally came after the Reserve Bank of India tightened rules in both domestic and offshore markets. "The move was largely driven by improved risk sentiment following US President Donald Trump's speech, which hinted at negotiations rather than escalation, triggering a relief rally. However, unc ...Read More >
New Delhi, April 2 (SocialNews.XYZ) The Indian rupee posted its biggest single-day gain in more than 12 years on Thursday as authorities intensified their crackdown on currency speculation by extending curbs to offshore derivatives markets, days after tightening limits on banks' local positions. The currency strengthened as much as 1.7 per cent to 93.25 against the dollar -- its sharpest rise since September 2013 -- as trading resumed after a three-day holiday break. The rally came despite bro ...Read More >
New Delhi, March 31 (PTI): India's first Iranian crude oil cargo since 2019 may be headed towards a port in Gujarat, according to ship tracking data. Indian refiners have been looking to purchase a few cargoes of Iranian oil on water following the recent sanctions waiver by Washington. "The Indo-Iranian oil trade has flickered back to life. Following the US administration's decision to grant a 30-day window for Iranian oil "on the water" due to regional conflict, the vessel Ping Shun is now en ...Read More >
Nirmala Sitharaman says rupee is "absolutely fine" even as it crosses 95 per dollar, citing strong economic fundamentals and resilience versus peers. Finance Minister Nirmala Sitharaman on Monday said the country's economic fundamentals remain robust, asserting that the rupee is performing "absolutely fine" compared with other emerging market currencies against the dollar. Addressing a supplementary question in the Lok Sabha on the recent weakening of the rupee, Sitharaman highlighted the stre ...Read More >
New Delhi [India], March 31 (ANI): Amid sharp volatility in the currency markets and pressure on the Indian rupee, a report by the State Bank of India has suggested that oil marketing companies (OMCs) should be provided a special foreign exchange (FX) window to help stabilise the currency. The report noted that with the rupee witnessing sharp depreciation in a volatile global environment, the large and regular dollar demand from OMCs is adding to market pressure. It is recommended that regulato ...Read More >
New Delhi [India], March 31 (ANI): The recent depreciation in the Indian rupee after February 27 (start of the current conflict in West Asia) remains broadly in line with movements seen in other global currencies, and does not signal excessive weakness, according to a report by the State Bank of India. The report noted that the rupee's movement in the current phase reflects global uncertainty, adding that currencies which had appreciated earlier have corrected more sharply, indicating that usin ...Read More >
New Delhi: Finance minister Nirmala Sitharaman on Monday said the rupee is "doing fine" when compared with the relative performance of other emerging market currencies against the dollar and that India's economic fundamentals remain strong amid the West Asia war. "India's economy is strong, our fiscal situation is strong, and the entire world is praising our fiscal deficit management. Our foreign exchange reserves remain solid," Sitharaman said in response to a supplementary question raised by ...Read More >
New Delhi: The Reserve Bank should use foreign exchange reserves to prop up the rupee hit by the ongoing West Asia crisis, suggested a research report by SBI on Monday. The rupee breached the 95/USD-mark in intra-day trade on Monday and settled 7 paise higher at 94.78 (provisional) against the American currency after Iran war escalation jolted global markets, fuelling rupee volatility and risk-off sentiment. The research report from the State Bank of India's economic research department said I ...Read More >
New Delhi, Mar 30 (PTI) The Reserve Bank should use foreign exchange reserves to prop up the rupee hit by the ongoing West Asia crisis, suggested a research report by SBI on Monday. The rupee breached the 95/USD-mark in intra-day trade on Monday and settled 7 paise higher at 94.78 (provisional) against the American currency after Iran war escalation jolted global markets, fuelling rupee volatility and risk-off sentiment. The research report from the State Bank of India's economic research depa ...Read More >
Mumbai, Mar 13 (PTI) India's forex reserves dropped by USD 11.683 billion to USD 716.810 billion during the week ended March 6, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by USD 4.885 billion to an all-time high of USD 728.494 billion. For the week ended March 6, foreign currency assets, a major component of the reserves, decreased by USD 9.880 billion to USD 563.245 billion, according to data released by the central bank. Expressed in dollar te ...Read More >
Mumbai, Feb 13 (PTI) The rupee depreciated 8 paise to 90.69 against the US dollar in early trade on Friday, pressured by the strengthening of the American currency and a negative trend in domestic equities. Forex traders said a firm dollar limited the upside for emerging-market currencies including the rupee. At the interbank foreign exchange market, the rupee opened at 90.69 against the US dollar, registering a fall of 8 paise over its previous close. On Thursday, the rupee appreciated 17 pa ...Read More >
New Delhi: India's economy has moved from a state of fragility in 2013 to become the fastest growing major economy for multiple years now, showing its transition from external vulnerability to external resilience, finance minister Nirmala Sitharaman told the Parliament on Monday. Replying to the debate on the first supplementary demands for grants in the Lok Sabha, the minister also said that collective work was needed to reduce debt at central and state levels. Sitharaman told the House that ...Read More >
Image source: Ministry of Power (GODL-India), GODL-India , via Wikimedia Commons India's unified national power grid and aggressive expansion of renewable capacity have positioned the country as a premier destination for hyperscale data centers and Global Capability Centers (GCCs), Commerce and Industry Minister Piyush Goyal said on Monday. Speaking to reporters in New Delhi, Goyal emphasized that the country's 500-gigawatt (GW) integrated grid -- one of the largest single-frequency networks i ...Read More >
New Delhi, Nov 20 (PTI) Reserve Bank Governor Sanjay Malhotra on Thursday said the central bank does not target any level of rupee, and the recent depreciation of the domestic currency against the US dollar is due to demand for the greenback. The governor also said that the Reserve Bank has "very good" buffers of foreign exchange reserves, and there is no need for concern on the external sector. Delivering the VKRV Rao Memorial Lecture at the Delhi School of Economics, Malhotra also said the f ...Read More >
New Delhi [India], November 16 (ANI): India's foreign exchange reserves declined by USD 2.699 billion in the week that ended November 7 to USD 687.034 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India's latest 'Weekly Statistical Supplement' data showed. Over the past month, the forex kitty has been in a downtrend, except for one week. Still, the country's foreign exchange (forex) kitty is hovering close to its all-time high of USD 704.89 b ...Read More >
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 [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 >
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 >
Mumbai, Oct 24 (SocialNews.XYZ) India's foreign exchange reserves rose by $4.5 billion to $702.3 billion for the week ended October 17, mainly driven by an increase in the value of gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday. India's gold reserves held by the RBI as part of the country's foreign exchange reserves surged by $6.2 billion to surpass the $108.5 mark for the first time on the back of a sharp rise in the price of the precious metal and incre ...Read More >
Mumbai: The Reserve Bank is reviewing frictions impacting timely credit of inward cross-border remittances to beneficiary accounts enhance overall efficiency in the cross-border payments ecosystem. "One of the issues pertains to delays in cross-border payments being most pronounced at the beneficiary stage," the Reserve Bank of India (RBI) said in its half-yearly Payments Systems Report. "In this context, the Reserve Bank has initiated a review of the frictions impacting timely credit of inward ...Read More >
New Delhi, October 22: The Reserve Bank of India (RBI), in its latest State of the Economy article published in the RBI Bulletin of October 2025, noted that while the Indian economy is not immune to global headwinds, it continues to demonstrate resilience. The bulletin attributed this resilience to strong and durable macroeconomic fundamentals, including low inflation, robust balance sheets of banks and corporates, adequate foreign exchange reserves and a credible monetary and fiscal framework. ...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 >
MUMBAI: Valuation of gold in Reserve Banks foreign exchange reserves crossed the $100 billion mark for the first time ever, increasing by $3.6 billion to $102 billion in the week ended October 10. RBI's total reserves fell $2 billion to $697.7 billion. Gold reserves increased as gold prices crossed the crucial all time high of $4,000/oz last week, according to the world gold council. Foreign currency assets in reserves fell $5.6 billion to $572 billion in the week. Total reserves have come with ...Read More >
Mumbai: Gold reserves crossed the $100 billion mark for the first time in the week ended Oct 10, driven by a sharp rise in global prices even as the pace of purchases slowed this year. The value of gold holdings rose by $3.6 billion to $102.4 billion, while overall foreign exchange reserves fell by $2.2 billion to $697.8 billion.The share of gold in total reserves climbed to 14.7%, the highest since 1996-97. The increase reflects both valuation gains and steady accumulation over the past decade, ...Read More >
According to the latest forecast from the IMF, India's economy is set to grow by 6.6% in FY26, a testament to its solid economic backbone and adaptability. The surge in consumer spending and significant infrastructure projects are propelling this growth. The International Monetary Fund (IMF)'s recent upward revision of India's FY26 economic growth forecast to 6.6% from 6.4% earlier reflects the country's economic resilience and strong fundamentals, Commerce and Industry Minister Piyush Goyal sa ...Read More >
New Delhi, Oct 17 (SocialNews.XYZ) Commerce and Industry Minister Piyush Goyal said on Friday that India has undergone a significant shift in recent years and that it now negotiates from a position of strength, reflecting the country's growing economic confidence and global stature in terms of India's approach to Free Trade Agreements (FTAs) and other trading arrangements. Addressing the annual conference and 105th annual general meeting of Assocham in New Delhi, Goyal said the country is now e ...Read More >
New Delhi [India], October 17 (ANI): Union Minister Piyush Goyal on Friday said that there is no better time than now to invest in India's hospitality sector, as the industry continues to perform strongly amid the country's growing economic momentum. Addressing the Annual Conference and 105th Annual General Meeting of ASSOCHAM, Goyal said that India's travel and tourism sector is witnessing rapid growth but also faces several challenges that need to be addressed through joint efforts by the gov ...Read More >
New Delhi [India], October 17 (ANI): Union Minister Piyush Goyal on Friday said that there is no better time than now to invest in India's hospitality sector, as the industry continues to perform strongly amid the country's growing economic momentum. Addressing the Annual Conference and 105th Annual General Meeting of ASSOCHAM, Goyal said that India's travel and tourism sector is witnessing rapid growth but also faces several challenges that need to be addressed through joint efforts by the gov ...Read More >
New Delhi: India's macro-economic fundamentals have continued to remain very strong, and the country has become an anchor of stability in a volatile world, Reserve Bank Governor Sanjay Malhotra said on Friday. Speaking at Kautilya Economic Conclave 2025 here, the governor attributed the country's strong fundamentals to low inflation, good foreign exchange reserves, a narrow current account deficit, and strong balance sheets of our banks and corporates. "It is the combined efforts of the govern ...Read More >
New Delhi, Oct 3 (SocialNews.XYZ) Despite global turbulence caused by trade friction and geopolitical shocks, India has been able to stand out as a rare anchor of stability in a volatile world, RBI Governor Sanjay Malhotra said on Friday. In his address at the fourth Kautilya Economic Conclave here, Malhotra said policy continuity, institutional resilience and reform momentum have enabled India to avoid major financial crises and remain among the fastest-growing large economies, with inflation ...Read More >
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