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Top 5 credit cards for international travel: How to avail low forex charges, hotel memberships and other benefits
1 week, 4 days ago

Top 5 credit cards for international travel: How to avail low forex charges, hotel memberships and other benefits

Live Mint  

Credit cards: Are you all set for vacations as the year comes to a close? Joining fee: ₹12,500 SBI ELITE Credit Card The SBI ELITE Credit Card Foreign offers a currency mark-up charge of 1.99 per cent on international usage. Joining fee: ₹4,999 HDFC Regalia Gold Credit Card This credit card has a foreign currency markup charge of 2 per …

India International Credit Offers International Travel Credit Cards Card
RBI MPC Keeps Repo Rate Same At 6.5% For 7th Time; FY25 GDP Pegged At 7%, CPI Inflation At 4.5%
8 months, 2 weeks ago

RBI MPC Keeps Repo Rate Same At 6.5% For 7th Time; FY25 GDP Pegged At 7%, CPI Inflation At 4.5%

News 18  

The RBI’s monetary policy committee on Friday decided to keep the repo rate unchanged for the seventh time in a row, at 6.5 per cent. FY25 GDP Growth The Reserve Bank on Friday retained GDP growth forecast of 7 per cent for 2024-25 financial year, lower than the 7.6 per cent expansion estimated for FY24. In its February monetary policy, …

India Policy Growth Inflation Cent Rate Rbi
Dedollarisation: China's state-owned banks cut interest rates on dollar deposits to boost forex trade in yuan
1 year, 6 months ago

Dedollarisation: China's state-owned banks cut interest rates on dollar deposits to boost forex trade in yuan

Firstpost  

China is prepping its yuan to become the next dollar and the global reserve currency. In the latest salvo fired at the dollar, China has told its state-owned banks to substantially reduce interest on dollar deposits, a Reuters report said. In China, interest rates offered by the banks on dollar deposits of $50,000 and above have been capped at 4.3 …

China Interest Rates Interest Yuan Rates Dollar Deposits
China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves
1 year, 10 months ago

China in Quandary as Pakistan Faces Debt Default After Steep Fall in Forex Reserves

News 18  

Watching warily Pakistan plunging into the worst economic crisis with prospects of defaulting on foreign loans, China which holds Islamabad’s largest debt on Monday said it backed measures taken by its “all-weather friend” to tide over the disastrous situation and hoped it will, in the end, pull through. Pakistan’s current account deficit shrank 90.2 per cent to USD 0.24 billion …

China Pakistan Sri Lanka Bank Debt Billion Lanka
Rupee slips 10 paise to 82.80 against dollar
2 years ago

Rupee slips 10 paise to 82.80 against dollar

Deccan Chronicle  

MUMBAI: The rupee declined 10 paise to settle at 82.80 against the US dollar on Wednesday as a massive sell-off in domestic equities and risk aversion in global markets dented investor sentiment. On the domestic equity market front, the BSE Sensex ended 635.05 points or 1.03 per cent lower at 61,067.24, while the broader NSE Nifty fell 186.20 points or …

Cent Rupee 10 Paise
Closure of border markets make thousands of people jobless in Pakistan, forex reserves, FDI, textile exports all at dismal low
2 years ago

Closure of border markets make thousands of people jobless in Pakistan, forex reserves, FDI, textile exports all at dismal low

Op India  

Thousands of people are left jobless due to the closure of the market at Taftan, for the last one-year — the border of Iran and Pakistan, reported Pakistani vernacular media Intekhab Daily. A sit-in protest was held in September by regional political parties against the prolonged closure of trade and travelling corridors at Taftan border in Chagai district in Pakistan’s …

Trade Pakistan Border Billion Reported Imran Dawn
Rupee falls 3 paise to close at 81.71 against US dollar
2 years ago

Rupee falls 3 paise to close at 81.71 against US dollar

Deccan Chronicle  

MUMBAI: The rupee slipped 3 paise to close at 81.71 against the US dollar on Tuesday as rising crude oil prices in the international market weighed on forex market sentiment. At the interbank foreign exchange market, the local unit opened strong at 81.58 but later slipped into the negative territory. Global oil benchmark Brent crude futures surged 2.33 per cent …

3 Paise Local Unit Unit Forex Rupee Slipped Local Unit Forex
India's Forex Buffers Sufficient, Limited Risks to Sovereign Rating from External Pressures: Fitch
2 years, 2 months ago

India's Forex Buffers Sufficient, Limited Risks to Sovereign Rating from External Pressures: Fitch

News 18  

India’s external buffers are sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices, and risk to the sovereign rating from external pressure is limited, Fitch Ratings said on Wednesday. “India’s external buffers appear sufficient to cushion risks associated with rapid monetary policy tightening in the US and high global commodity prices,” …

Global India Cent Rate Cad Rating External
Achieving Target of 20% Ethanol Blending in Petrol by 2025 to Save Rs 1 Lakh Crore Forex: Amit Shah
2 years, 3 months ago

Achieving Target of 20% Ethanol Blending in Petrol by 2025 to Save Rs 1 Lakh Crore Forex: Amit Shah

News 18  

If India achieves the target of blending 20 per cent ethanol with petrol by 2025, it will save around Rs 1 lakh crore of foreign exchange, Union Home Minister Amit Shah said on Wednesday. Achieving this target early made the government advance by five years the target of 20 per cent ethanol blending to 2025, the Cooperation Minister said. Achieving …

India Shah Target Ethanol Lakh Crore 27 Lakh Cent Blending
Rupee rises 8 paise to close at 79.79 against US dollar
2 years, 3 months ago

Rupee rises 8 paise to close at 79.79 against US dollar

Deccan Chronicle  

MUMBAI: The rupee appreciated 8 paise to close at 79.79 against the US dollar on Monday, in line with a firm trend in domestic equities. The dollar index, which measures the greenback's strength against a basket of six currencies, rose 0.28 per cent to 109.83. Gains in the dollar extended after non-farm payrolls numbers released from the US came in …

Rupee Dollar Us Dollar 8 Paise
RBI to crack down on volatile and bumpy movements to ensure rupee finds its level: Shaktikanta Das
2 years, 5 months ago

RBI to crack down on volatile and bumpy movements to ensure rupee finds its level: Shaktikanta Das

The Hindu  

Notwithstanding the over 7% depreciation of the Indian rupee against the US dollar, the Reserve Bank of India has decided to ensure that the rupee finds its level in an orderly evolution, but it would have zero tolerance for volatile and bumpy movements. “We will continue to engage with the forex market and ensure that the rupee finds its level …

India Market Rbi Das Forex Hedge Eme
SBI, ICICI, Other Banks Hike Foreign Currency Interest Rates Following RBI's Forex Flow Relaxation
2 years, 5 months ago

SBI, ICICI, Other Banks Hike Foreign Currency Interest Rates Following RBI's Forex Flow Relaxation

News 18  

New Delhi: SBI, ICICI Bank and IDFC First Bank have raised interest rates on foreign currency non-resident deposits in response to the Reserve Bank’s relaxation last week to shore up forex inflows. The largest public sector lender State Bank of India has revised the foreign currency non-resident deposits rates on US dollar in the range of 2.85-3.25 per cent per …

Bank Interest Rates Interest Cent Foreign Rbi Icici
Sri Lanka's forex crisis bodes ill for tottering economy
2 years, 8 months ago

Sri Lanka's forex crisis bodes ill for tottering economy

The Hindu  

A t 11.20 a.m. on March 30, as the Chennai -Colombo SriLankan Airlines flight began its descent in Colombo, an announcement over the aircraft’s public address system gave out the usual instructions laced with pleasantries, welcoming all passengers to the Bandaranaike International Airport. Use only banks or authorised foreign exchange dealers appointed by the Central Bank of Sri Lanka to …

India Market Sri Lanka Money Bank Crisis Colombo
Rupee plummets to close at 75.63 against dollar as Ukraine-Russia conflict shakes forex markets
2 years, 9 months ago

Rupee plummets to close at 75.63 against dollar as Ukraine-Russia conflict shakes forex markets

Firstpost  

Foreign exchange traders said sustained foreign fund outflows, heavy selling in domestic equities, and elevated crude oil prices weighed on investor sentiments Mumbai: The rupee tanked 102 paise to close at 75.63 against the US currency on Thursday as riskier assets took a hit after Russia launched military operations against Ukraine. Forex traders said sustained foreign fund outflows, heavy selling …

Ukraine Russia Rupee Prices Weighed
Forex violation case: ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart, its founders
3 years, 4 months ago

Forex violation case: ED slaps Rs 10,600-cr FEMA contravention notice against Flipkart, its founders

India TV News  

The Enforcement Directorate has issued a show cause notice of about Rs 10,600 crore to e-commerce major Flipkart and its promoters for alleged violation of the foreign exchange law, official sources said on Thursday. They said the notice under various sections of the Foreign Exchange Management Act was issued to 10 people last month that includes Flipkart, its founders Sachin …

Violation Notice Fema Walmart Flipkart Fdi Its Founders
Rupee Logs Worst Day in Nearly 19 Months, Dives 104 Paise Against US Dollar
3 years, 9 months ago

Rupee Logs Worst Day in Nearly 19 Months, Dives 104 Paise Against US Dollar

News 18  

The Indian rupee on Friday posted its biggest single-day fall in nearly 19 months, tumbling 104 paise to close at 73.47 against the US dollar as a rout in global bond markets weighed on investor sentiments. It finally ended at 73.47 against the American currency, registering a massive fall of 104 paise over its previous close the biggest single-day fall …

Syria Rupee Dollar Us Dollar 104 Paise
Forex Intervention by RBI to Touch $93 Billion by March, Says Report
3 years, 11 months ago

Forex Intervention by RBI to Touch $93 Billion by March, Says Report

News 18  

The Reserve Bank of India is likely to spend at least USD 20 billion more to support the rupee and increase the forex kitty through the reminder of the financial year, taking its overall forex intervention to USD 93 billion, according to a report. The report by the Wall Street brokerage Bank of America Securities also expects the central bank …

Bank Intervention Billion Cent Rbi Das Rupee
Rupee Slips 4 Paise to 73.18 Against US Dollar in Early Trade
4 years, 3 months ago

Rupee Slips 4 Paise to 73.18 Against US Dollar in Early Trade

News 18  

The rupee slipped 4 paise to 73.18 against the US dollar in early trade on Monday as strengthening US dollar and muted opening in domestic equities weighed on the local currency. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.17 per cent to 92.87. On the domestic equity market front, the 30-share …

Us Dollar 4 Paise