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Friday, March 29, 2024
TopicForex

Topic: Forex

India’s forex reserves fall to $537.52 billion, notching steepest weekly fall in six months

The country's reserves were $545.65 billion at the end of the previous week. Reserves have now fallen for eight straight weeks and are near their lowest levels since August 2020.

‘Price of defending rupee’: Sliding by $3.6 bn/week, India’s forex sees steepest fall in decade

In January 1st week, India had forex reserves worth $633 bn, indicating a fall of over $82 billion so far. Forex depletion means RBI's been selling dollars to tackle falling rupee.

RBI’s forex focus is a good start. It must be followed by more fundamental reforms

RBI hopes to boost forex inflows and stem rupee slump. But rupee likely to remain under pressure amid tighter global financial conditions & interest rate hikes by US Fed.

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.

On Camera

Congress attacks chief economic advisor over statement on unemployment, asks BJP govt to ‘vacate seat’

While releasing 'India Employment Report 2024', V Anantha Nageswaran said govt can't solve 'all social, economic challenges'. Congress leader Kharge says CEA protecting 'dear leader'.

Amid plans to lift AFSPA, Army starts joint training with Jammu & Kashmir Police

In an interview with Gulistan News this week, Union Home Minister Amit Shah said the government would leave law and order to J&K Police and slowly withdraw troops.

For BJP, Kejriwal is an idea whose time has come to be destroyed

The ‘idea’ Kejriwal's politics grew around was a no-holds-barred fight against corruption. That is the reason Modi govt has now tarred him and his entire party with the same paint.