The rupee hit a record low of 83.29 per dollar in that turbulent week, and traders said the RBI had intervened in both the spot and forward markets to contain the slide.
Banks will have to ascertain the foreign currency exposure (FCE) of all entities at least annually, the RBI said, adding the revised rules will be effective from 1 January, 2023.
With US Fed hiking rates, RBI might be pushed to increase its own rates to slow simultaneous fall of rupee & India's forex reserves. But this could also hurt economic growth.
Forex reserves surged to $605 billion in the week to 4 June as the RBI mopped up dollars flowing into the nation’s booming stock market as well as via foreign direct investments.
According to a statement by the airport, commercial operations likely to begin next year 'in view of the current construction status'. It was supposed to commence operations by 2024 end.
At interaction in Delhi Monday, Ambassador of Philippines also highlighted talks over possibility of high-level delegation visit later this year to mark 75 yrs of diplomatic ties.
Changed reality for Modi govt in its 3rd innings is by no means rise of a new phenomenon. It's a return to old normal where even majorities had to routinely wrestle with storied million mutinies.
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