Thursday, 26 May, 2022
TopicForex

Topic: Forex

ED seizes Rs 55.51 billion from Chinese company Xiaomi for forex violation

The Enforcement Directorate took control of the bank accounts of Xiaomi Technology India under the provisions of the Foreign Exchange Management Act.

No more US dollars? Ukraine war could change the global monetary system of 75 years

The Ukraine war has exposed the imbalance in the global financial system run primarily by the West. When the West decides the course of a currency, others must take it as given.

These are some of the best prop-trading firms for forex beginners

While choosing any prop trading firm, one must consider their background and reviews. Check evaluation phases, daily drawdown limits, overall drawdown, profit criteria etc.

Exotic forex derivatives make comeback in India as RBI pushes to deepen markets

RBI allowed lenders to offer derivative products this month. Banks like ICICI Bank & Axis Bank sold barrier forex options to customers including Reliance Industries & Supreme Petrochem.

QuickTrade brokerage firm redefines online trading in a digitally conscious world

QuickTrade works under Financial Services Conduct Authority guidelines and as its client, you enjoy unlimited leverage offered by South Africa, which is one of the last regulatory centers to do so.

India’s forex reserves touch record-high of $612.73 billion, RBI data shows

According to the Reserve Bank of India's weekly data, the increase in foreign exchange reserves was due to the surge in foreign current assets (FCA) that rose by $463 million.

5 reasons why India needs to add to its record foreign exchange reserves of $608 billion

The hoard may help reassure investors and credit-rating companies about the Modi government’s ability to meet its debt obligations despite a deteriorating fiscal outlook.

Rupee drops 15 paise to 76.40 against US dollar in early trade

Forex traders said the weakness in the rupee was largely due to muted domestic equities and strengthening of the US dollar.

Rupee drops 25 paise to 76.31 against US dollar in early trade

Forex traders said market sentiment weakened after a potential antiviral drug for coronavirus cure reportedly failed its first trial.

RBI has also liberalised forex trading by allowing banks to trade in offshore markets

Banks in India that operate out of International Financial Services Centre will be allowed to participate in non-deliverable forwards market from 1 June.

On Camera

YourTurn

US President Joe Biden speaks in the East Room of the White House in Washington, D.C., on 16 August 2021. Biden defended his decision to withdraw US troops from Afghanistan | Samuel Corum | Bloomberg

US blames failure to shut Pakistan border for Afghan defeat. India, please take note

The US could have used its coercive resources to compel Pakistan to shut down the Taliban’s transborder sanctuaries. It chose not to—costing its victory.
Vendors at a store selling edible oils at Begum Bazaar in Hyderabad, India| Photographer: Dhiraj Singh/Bloomberg

Modi govt to allow duty-free import of soybean, sunflower oil, cool surging prices

The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.

Defence

Naval helicopters | Representational image | indiannavy.nic.in

What’s Combined Military Forces-Bahrain? US-backed coalition India joined on Quad sidelines

India is 35th member of the maritime counterterrorism partnership that also includes Pakistan, Australia, Bahrain, Denmark, Egypt, France, Germany and Greece, among others.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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