Articles for Foreign Currency

Why is the rupee weakening against the dollar? | Explained
6 days, 15 hours ago

Why is the rupee weakening against the dollar? | Explained

The Hindu  

The story so far: In the last week of December, 2024, the rupee breached the 85 mark against the U.S. dollar, touching an all-time low of 85.81. The price of any currency in the foreign exchange market is determined by the demand for the currency vis-a-vis its supply. One of the most important determinants of the supply of a currency …

India Supply Central Banks Demand Value Rbi Rupee
Arbitration Cases Annual Digest 2024
1 week, 2 days ago

Arbitration Cases Annual Digest 2024

Live Law  

Supreme Court Supreme Court Issues Notice On Plea Challenging Validity Of Section 3G Of National Highways Act Case Title: B.D. High Court Not Having Original Civil Jurisdiction Cannot Extend Time To Pass Arbitral Award As Per S.29A Arbitration Act : Supreme Court Case Title: CHIEF ENGINEER PWD VERSUS M/S BSC & C and C JV Citation : 2024 LiveLaw 425 …

India Justice Supreme Court High Court Writ Petition Arbitration Constitution
Arbitration Act: Important Judgments By Supreme Court In 2024
2 weeks, 3 days ago

Arbitration Act: Important Judgments By Supreme Court In 2024

Live Law  

As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Arbitration and Conciliation Act, 1996. High Court Not Having Original Civil Jurisdiction Cannot Extend Time To Pass Arbitral Award As Per S.29A Arbitration Act : Supreme Court Case: Chief Engineer PWD v. M/s BSC …

Karnataka Supreme Court Arbitration Court Public Policy Indian 2024
Arbitration Act: Important Judgments By Supreme Court In 2024
2 weeks, 3 days ago

Arbitration Act: Important Judgments By Supreme Court In 2024

Live Law  

As the year 2024 nears its end, LiveLaw brings to you a summary of important Supreme Court judgments of the year rendered in connection with the Arbitration and Conciliation Act, 1996. High Court Not Having Original Civil Jurisdiction Cannot Extend Time To Pass Arbitral Award As Per S.29A Arbitration Act : Supreme Court Case: Chief Engineer PWD v. M/s BSC …

Karnataka Supreme Court Public Policy Indian 2024 Supreme Act
RBI hikes rate caps on diaspora’s foreign currency deposits to attract flows
1 month ago

RBI hikes rate caps on diaspora’s foreign currency deposits to attract flows

Live Mint  

Mumbai, Dec 6 The Reserve Bank on Friday announced a raise in the interest rate caps on the diaspora's foreign currency deposits, in a move aimed at attracting more capital flows amid pressures on the rupee. Announcing the fifth bi-monthly monetary policy for the current financial year, RBI Governor Shaktikanta Das said it has been decided to increase the interest …

Rbi Das Deposits Foreign Currency Rate Caps
India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak
1 month, 3 weeks ago

India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak

Live Mint  

India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India showed on Friday. In the previous reporting week, the forex reserves had dropped by USD 2.675 billion to USD 682.13 billion. For the week ended November 8, foreign currency assets, a …

India Billion Foreign Rbi Usd Reserves Foreign Currency Assets
Forex card vs debit card: Which helps save on markup fees?
2 months ago

Forex card vs debit card: Which helps save on markup fees?

Live Mint  

When travelling abroad, travellers can choose between cash and card for payments. A forex card is cheaper because the markup charged on currency conversion is lower compared to what banks apply to debit cards when they are swiped outside India. Assuming the cardholder used a debit card on the Visa network, swiping the card for payments worth $500 would debit …

Visa Currency Cards Rate Hdfc Bank Hdfc Debit Card
Theft At Telangana Deputy CM Mallu Bhatti Vikramarka Residence: Manservant Escapes With 100 Gram Gold Coin, Foreign Currency
3 months, 2 weeks ago

Theft At Telangana Deputy CM Mallu Bhatti Vikramarka Residence: Manservant Escapes With 100 Gram Gold Coin, Foreign Currency

ABP News  

A domestic worker involved in a theft at the residence of Telangana Deputy Chief Minister Mallu Bhatti Vikramarka in Banjara Hills was apprehended by the Government Railway Police in Kharagpur, West Bengal, on Thursday. Authorities recovered Rs 2.2 lakh in cash, a 100-gram gold coin, silver articles, and foreign currency stolen from the Deputy CM’s house. The theft occurred while …

Telangana Foreign Currency Bhatti Mallu Bhatti Vikramarka
Best Practices for using your Forex card for hotel and car rentals
4 months, 1 week ago

Best Practices for using your Forex card for hotel and car rentals

Hindustan Times  

Business trips and leisure trips involve the use of money from other countries, thus involving working with foreign currency. The first advantage of using a Forex card is when money is put in a card, the rate for currency exchange remains invulnerable irrespective of the frequent changes in the general rates. Duration of the Hold: Even in the case when …

Money Car Card Hotel Foreign Hindustan Times Rental
Important MCQ's Based On Latest Supreme Court Judgments For Law Examinations
4 months, 2 weeks ago

Important MCQ's Based On Latest Supreme Court Judgments For Law Examinations

Live Law  

The Litigant's advocate had withdrawn the application, which was preferred before the Court, without intimating the litigant. d. Both and Answer: Option Explanation: Recently, the Supreme Court observed that it would be impermissible for the High Court to exercise inherent powers under Section 482 of Cr. d. Both and Answer: Option Explanation: The Supreme Court recently held that the limitation …

Supreme Court Performance Court Specific Performance Pay Commission Litigant Indian
How Laos' plans to fast-track development left it facing a debt and inflation crisis
5 months, 3 weeks ago

How Laos' plans to fast-track development left it facing a debt and inflation crisis

ABC  

Laos is in serious economic trouble. He said the reasons for the big debt were "multi-causal and cascading" including: "over-lending" and poor due diligence by Chinese banks; "over-borrowing" by Laos with the sheer number of project loans appearing to overwhelm the utilities' capacity effectively manage so many large and complex energy projects; over-estimated domestic energy demand projections which justified these …

China Infrastructure Development Inflation Money Economic Hydropower
RBI allows resident Indians to open foreign currency accounts in GIFT City
6 months ago

RBI allows resident Indians to open foreign currency accounts in GIFT City

Live Mint  

The Reserve Bank of India has expanded the scope of remittances to International Financial Services Centres under the Liberalised Remittance Scheme allowing Indian residents to open foreign currency accounts in Gujarat International Finance Tec-City. On Wednesday, RBI decided to allow authorised persons to facilitate remittances for availing financial services or financial products as per the International Financial Services Centres Authority …

Financial Currency Foreign Rbi Foreign Currency Gift City Lrs
CISF exposes irregularities of customs officers in foreign currency exchange
6 months, 1 week ago

CISF exposes irregularities of customs officers in foreign currency exchange

Deccan Chronicle  

Three Customs officials — Y. Sreenivasu, Pankaj Gautam and Peri Chakrapani — indulged in irregularities of alleged illegal seizure of foreign currency from passengers and used their outsourcing staff to exchange with the private agents, according to CISF report. Days after the Central Bureau of Investigation registered cases against the three accused officers, in-charge Crime and Intelligence Wing, CISF, RGIA, …

Currency Foreign Currency Cisf Report
Currency racket at RGIA: CBI registers cases against customs officers
6 months, 1 week ago

Currency racket at RGIA: CBI registers cases against customs officers

Deccan Chronicle  

Hyderabad: Officials from the Central Bureau of Investigation, Hyderabad unit, registered cases against three city-based customs department officers in connection with smuggling of foreign currency at Rajiv Gandhi International Airport in Shamshabad. According to CBI officials, a letter received from Alekhya Balla, deputy commissioner, RGIA customs commissionerate, along with a letter from K. Kranti Kumar, in-charge, crime and intelligence wing, …

Customs Indian Currency Officials Cbi Commissioner Foreign Currency
India's foreign exchange reserves jump by USD 816 million to USD 653.71 billion
6 months, 2 weeks ago

India's foreign exchange reserves jump by USD 816 million to USD 653.71 billion

India TV News  

India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India said today. For the week ended June 21, foreign currency assets, a major component of the reserves, decreased by USD 106 million to USD 574.134 billion, the data released on Friday showed. India's forex reserves dropped by …

India Billion Million Foreign Usd Reserves Foreign Currency Assets
Allow foreign currency transactions in country via RBI: ICT Chairman Kapila
6 months, 3 weeks ago

Allow foreign currency transactions in country via RBI: ICT Chairman Kapila

The Hindu  

Consultants and service providers have urged the government to enable direct foreign currency transactions within the country through RBI, bypassing the current practice of routing transactions via the U.S. banking system. Kapila said currently, even domestic transactions in the U.S. dollar between entities within India necessitate routing through the U.S. banking system, incurring transaction fees. He emphasised that it is …

India Rbi Transactions Kapila Foreign Currency Transactions
India's Forex Reserves Hit All-Time High of $655.8 Billion, Gold Holdings Rise to $57 Billion: RBI Data
6 months, 3 weeks ago

India's Forex Reserves Hit All-Time High of $655.8 Billion, Gold Holdings Rise to $57 Billion: RBI Data

News 18  

India’s forex reserves jumped $4.307 billion to a new all-time high of $655.817 billion for the week ended June 7, according to the latest RBI data. Gold Reserves and Special Drawing Rights Gold reserves increased by $481 million to $56.982 billion during the week ended June 7. Foreign Currency Assets and IMF Reserve Position For the week ended June 7, …

India High Rbi Foreign Currency Rbi Data Forex Reserves Billion Gold
Zimbabwe’s illegal forex dealers use WhatsApp to find clients, evade police
8 months ago

Zimbabwe’s illegal forex dealers use WhatsApp to find clients, evade police

Al Jazeera  

Zimbabwe clamps down on black market trading it blames for devaluing its newly launched ZiG local currency. Harare, Zimbabwe – The entrance to the main gate at the Budiriro shopping centre, a busy mall south of Zimbabwe’s capital Harare, used to be a hive of activity where informal forex dealers had set up makeshift “offices” on the pavement. The stocky …

Market Local Black Zimbabwe Currency Whatsapp Usd
Cuba’s cash crunch leads to long lines and growing frustration
8 months, 2 weeks ago

Cuba’s cash crunch leads to long lines and growing frustration

The Hindu  

Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. Omar Everleny Pérez, a Cuban economist and university professor, says the main culprits are the government's growing fiscal deficit, the nonexistence of banknotes with a denomination greater than …

Market Cash Cuban Pérez Foreign Currency Pesos Cuban Pesos
Long lines form and frustration grows as Cuba runs short of cash
8 months, 2 weeks ago

Long lines form and frustration grows as Cuba runs short of cash

Associated Press  

HAVANA — Alejandro Fonseca stood in line for several hours outside a bank in Havana hoping to withdraw Cuban pesos from an ATM, but when it was almost his turn, the cash ran out. Omar Everleny Pérez, a Cuban economist and university professor, says the main culprits are the government’s growing fiscal deficit, the nonexistence of banknotes with a denomination …

Cuba Banks Form Cash Cuban Havana Pérez
IMF to increase Egypt's bailout loan to $8 billion
9 months, 1 week ago

IMF to increase Egypt's bailout loan to $8 billion

Firstpost  

The Egyptian economy has been hit hard by years of government austerity, the coronavirus pandemic, the fallout from Russia’s full-scale invasion of Ukraine, and most recently, the Israel-Hamas war in Gaza. The deal was reached after Egypt and the IMF agreed on a reform plan, which includes measures such as floating the local currency, reducing public investment, and fostering private …

Egypt Currency Gaza Billion Egyptian Imf Foreign Currency
IMF confirms increasing Egypt’s bailout loan to $8 billion
9 months, 1 week ago

IMF confirms increasing Egypt’s bailout loan to $8 billion

Associated Press  

CAIRO — The executive board of the International Monetary Fund confirmed a deal with Egypt to increase its bailout loan from $3 billion to $8 billion, in a move that is meant to shore up the Arab country’s economy which is hit by a staggering shortage of foreign currency and soaring inflation. The disruptions in the Red Sea are also …

Egypt Currency Billion Foreign Currency Imf Confirms
PLR Rates Are Not Applicable To Loans To Be Re-Paid In Foreign Currency Vis-À-Vis Interest On Delayed Realization: Mumbai ITAT
9 months, 4 weeks ago

PLR Rates Are Not Applicable To Loans To Be Re-Paid In Foreign Currency Vis-À-Vis Interest On Delayed Realization: Mumbai ITAT

Live Law  

The Mumbai ITAT clarified that interest rates on FCNR accounts maintained in foreign currency are different and dependent upon the currency in question. Referring to decision of Delhi High Court in the case of CIT-I vs. Cotton Naturals Ltd. 231 Taxmann 401, the Bench comprising Amit Shukla and Gagan Goyal observed that “The PLR rate, therefore, would not be applicable …

Interest Currency Rate Bench Foreign Currency Itat Applicable
Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion
10 months ago

Egypt floats its currency and agrees with the IMF to increase a bailout loan to $8 billion

Associated Press  

CAIRO — Egypt on Wednesday floated its currency and announced a deal with the International Monetary Fund to increase its bailout loan from $3 billion to $8 billion, moving to shore up an economy hit by a staggering shortage of foreign currency and soaring inflation. The measures, announced by the Central Bank of Egypt early Wednesday, were among the key …

Market Inflation Bank Egypt Currency Billion Rate