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currency
Finance Rupee Surges 66 Paise on RBI Governor's Remarks; Sensex Jumps 776 Points
The Indian rupee strengthened sharply on Monday, closing at 95.91 against the US dollar, up 66 paise, after RBI Governor Sanjay Malhotra signalled the currency is undervalued and highlighted robust foreign inflows. The central bank's intervention amplified gains, with Brent crude falling 10% to below $88 per barrel. The Sensex jumped 776 points to settle at 76,836, while the Nifty rose 229 points to 23,996.
Finance India Approves 2 Billion Polymer Banknotes of Rs 10 and Rs 20 for Field Trials
The Indian government has permitted the Reserve Bank of India to print 2 billion polymer banknotes – 1 billion each of Rs 10 and Rs 20 denominations – for field trials. Minister of State for Finance Pankaj Chaudhary informed Parliament that the notes will be tested before regular issue, and polymer will coexist with paper currency. The move follows RBI's tender for sourcing materials and aims to leverage the longer lifespan of polymer notes highlighted by international studies.
Finance RBI's Swap Scheme May Attract $80-85 Billion in Forex Inflows, Says SBI Report
The Reserve Bank of India's concessional swap facility could attract $80-85 billion in foreign currency inflows, led by FCNR(B) deposits, according to a report by SBI Research. By July 17, inflows reached nearly $20 billion, providing a positive reprieve for India's external sector. The report projects a balance of payments surplus of over $50 billion for FY27.
Finance Oil Price Volatility and RBI's Steady Hand Stabilise Rupee Ahead of August MPC Meeting
The Indian rupee is entering a stable phase ahead of the RBI's August MPC meeting, with analysts ruling out sharp depreciation. Brent crude below $105 limits USD/INR below 97.50, while the RBI prioritises managing volatility over defending specific levels. Rising crude inflation may delay rate cuts.
Finance Bank of Baroda, Bank of India target over $6 billion through forex mop-up schemes
Bank of Baroda and Bank of India are targeting over $6 billion in foreign capital through FCNR(B) deposits, medium-term notes, and foreign currency bonds. RBI has undertaken to cover forex risk via dollar swaps. Banks have collectively raised over $17 billion so far.
Finance RBI Intervention Lifts Rupee 22 Paise to 96.5 Despite Brent Crude Topping $100
The Indian rupee strengthened 22 paise to 96.5 per dollar on Friday, recovering from a weak opening, as likely Reserve Bank of India intervention countered pressure from Brent crude oil prices breaching $100 a barrel. The currency remains under pressure from FII outflows and domestic equity declines.
Finance Rupee Rises to 96.49 Against US Dollar as Rising Oil Prices Cap Gains, Traders Eye RBI Intervention
The Indian rupee opened at 96.49 against the US dollar on Thursday, a 0.1% recovery from its weakest close in over two months, but gains are limited by rising crude oil prices. Brent crude has climbed above $96 a barrel amid US-Iran tensions, prompting the Reserve Bank of India to intervene. The RBI was a net seller of $6.1 billion in the forex market in May, while its forward dollar sales hit a record $106.6 billion.
Finance Rupee Falls 11 Paise to 96.36 Against US Dollar Amid US-Iran Tensions and Rising Crude Oil Prices
The Indian rupee opened 11 paise weaker at 96.36 against the US dollar on Wednesday, pressured by rising crude oil prices and safe-haven demand amid renewed US-Iran tensions. The dollar index edged lower to 101.15, while Brent crude rose 1.18% to USD 92.08. RBI measures to attract overseas deposits have provided support, according to Anil Kumar Bhansali of Finrex Treasury Advisors LLP.
Trade Finance Forex Inflow Crosses $20.7 Billion Under RBI Special Swap Scheme
Banks have mobilised over $20.7 billion in foreign exchange inflows under the Reserve Bank of India's special swap scheme, operationalised on 8 June 2026. The bulk came through FCNR(B) deposits at $17.4 billion, with smaller contributions from OFCBs and ECBs. The scheme aims to strengthen India's balance of payments and incentivise capital inflows.
Finance Rupee Slips 6 Paise Against US Dollar in Early Trade, No Further Details Released
The Indian rupee weakened by 6 paise against the US dollar in early trade on July 21, 2026, as per a Business-Today article. The report contained no additional context, prior close, or market drivers.
Business Indian Stocks and Rupee Slide as Oil Spike Fuels Market Pressure
Indian markets closed lower on Monday with the Sensex falling 443 points and the Nifty declining 96 points amid volatile crude prices and geopolitical risks. The rupee weakened to 96.45 against the dollar, while banking stocks led the decline.
Finance Inflow Boost: Foreign Deposits and Swaps Draw $20.7 Billion in 40 Days, RBI Reports
The Reserve Bank of India reported that $20.7 billion has been raised through its concessional swap facility for FCNR(B) deposits, OFCBs, and ECBs as of July 17, nearly double initial estimates. The scheme, announced June 5 and operational from June 8, aims to boost the balance of payments. Bankers expect total mobilisation of $80-85 billion by the window's close.
Finance Rupee falls 12 paise to 96.42 as Middle East tensions lift crude oil prices above $90
The Indian rupee weakened 12 paise to 96.42 against the US dollar in early trade on Monday, driven by rising crude oil prices and escalating Middle East tensions. Foreign capital outflows and a decline in domestic equity markets added pressure. Brent crude surged 2.45% to $90.26 a barrel following a collapse of the US-Iran interim agreement and stalled shipping through the Strait of Hormuz.
Finance India's Currency Makeover: RBI Explores Polymer Banknotes for Rs 10 and Rs 20 Notes
India is moving toward polymer banknotes as the RBI's currency printing subsidiary, BRBNMPL, invites global bids for opacified polymer substrates. Initial denominations are likely Rs 10 and Rs 20, with polymer notes expected to be more durable and secure than current paper currency.
Finance Led by NRI deposits, RBI swaps may draw $80-85 billion in foreign capital
Bankers expect India to attract $80-85 billion through RBI's swap-backed initiatives spanning FCNR(B) deposits, external commercial borrowings, and overseas foreign currency bonds. Early traction is seen in NRI deposits, while PSUs and banks adopt a wait-and-watch approach for other instruments. The inflows are expected to support the rupee, which has been under pressure from global turmoil.
Finance Rupee Back in Red: Breaches 96 vs Dollar as RBI Forex Boost Fades on Rising Crude Oil Prices
The Indian rupee weakened past the 96 per dollar mark on Tuesday, giving up gains from recent RBI intervention, as renewed US-Iran tensions pushed crude oil prices higher. The one-month forward premium rose to 3.17%, increasing hedging costs for importers. Analysts said the rupee will remain sensitive to oil prices, foreign flows, and the dollar index, with structural dollar demand from India's trade deficit.
Finance Rupee slips past 96 against US dollar for first time since May as oil prices soar again
The Indian rupee weakened past 96 against the US dollar for the first time since May 2026, depreciating 48 paise to 96.16 on Tuesday. Pressure came from surging crude oil prices and heightened geopolitical tensions in West Asia, which boosted demand for safe-haven assets. The move raises concerns over India's import bill and current account deficit.
Finance India's Forex Reserves Surge $7.3 Billion to $674.2 Billion in Week Ended July 3
India's foreign exchange reserves increased by $7.3 billion to $674.2 billion in the week ended July 3, according to data from the Reserve Bank of India. The rise was fueled by a $4.5 billion jump in foreign currency assets and a $2.7 billion surge in gold holdings, the latter reflecting higher international gold prices. The buildup strengthens India's import cover and buffers against currency volatility.
Business India’s Foreign Reserves Rise by $963 Million to Over $672 Billion, RBI Data Shows
India's foreign exchange reserves rose by $963 million to over $672 billion in the week ended June 19, driven by a $4.1 billion increase in gold reserves, according to Reserve Bank of India data. In contrast, foreign currency assets declined by $3.07 billion, while SDRs and IMF reserve positions also fell.
Trade Finance Rupee Tumbles 20 Paise Against US Dollar as Oil Rises and Dollar Strengthens
The Indian rupee weakened 20 paise against the US dollar on Wednesday, opening at 95.15 and slipping to 95.16 in early trade, erasing gains from the previous session. The decline was driven by rising Brent crude oil prices, a stronger US dollar index, and a weak domestic stock market opening, according to a Business-Today report.
Finance Indian Rupee Strengthens 43 Paise to 94.97 on Lower Oil Prices and FII Inflows
The Indian rupee strengthened by 43 paise to 94.97 against the US dollar, recording its sharpest single-session gain in three weeks, supported by Saudi Arabia's $11/barrel cut in August crude oil prices for Asia, FII net equity purchases of Rs 243.03 crore, and improved global risk sentiment. The currency opened at 95.33 and traded in a 94.94-95.37 range before closing near 94.95. Broader market indicators showed Brent crude at $72.9/barrel and the dollar index at 100.96.
Finance Rupee recovers 15 paise to 95.28 against US dollar in early trade
The Indian rupee opened stronger at 95.33 and touched 95.28 against the US dollar in early Tuesday trade, recovering 15 paise from the previous session's close of 95.43. Gains followed Saudi Arabia's record USD 11 per barrel cut in Asia oil prices and reduced Middle East risk premium.
Finance Rupee Slips 10 Paise to 95.28 as Stronger Dollar and Geopolitical Jitters Outweigh Positive Cues
The Indian rupee weakened 10 paise to 95.28 against the US dollar in early trade on Monday, driven by a stronger dollar index and geopolitical uncertainty surrounding US-Iran peace talks. The decline erased part of the previous session's 17-paise gain. Forex traders noted the rupee's failure to benefit from softer dollar and falling oil prices signals underlying fragility, with potential moves towards 96.00 if negative triggers emerge.
Commodities Rise in dollar inflows via FCNR(B) deposits may add pressure on gold prices
Domestic gold prices fell 6% in the past month to ₹146,344 per 10g on July 3, driven by global weakness and expectations of substantial dollar inflows through RBI's FCNR(B) deposit scheme. The scheme, which offers higher rates and forex hedging support, has already attracted $7 billion in June, with inflows projected to reach $50 billion by October, strengthening the rupee and adding downside pressure on gold.
Finance Rupee Slips to 95.4 as Spike in Dollar Demand Sparks OMC Return Speculation
The Indian rupee closed at 95.4 against the US dollar, falling 15 paise from its previous close, amid a surprise spike in dollar demand that has reignited speculation that public sector oil marketing companies (OMCs) have returned to the foreign exchange market. The Reserve Bank of India had earlier this year moved OMCs to a separate window to reduce market volatility.
Finance RBI’s Net Short Forward Position Hits Record $106.6 Billion Amid Rupee Pressure
According to a July 1, 2026 report by the TOI Business Desk for Business Today, the Reserve Bank of India's net short forward position hit a record $106.6 billion amid rupee pressure. The development signals heightened central bank intervention to support the currency, with implications for trade finance costs and forex hedging.
Finance Japanese Yen Hits Four-Decade Low Against US Dollar, Sparking Intervention Fears
The Japanese yen fell to its weakest level against the US dollar since 1986, breaching 161.95 in New York and touching 162.40 in Tokyo. Verbal intervention from officials had little effect. Despite the Bank of Japan raising rates to 1%, the yen remains under pressure from the carry trade and expectations of a hawkish Federal Reserve. The government previously intervened with a record ¥11.73 trillion, and markets are watching for further action.
Trade Finance Exporters Flag Half-a-Dozen Concerns Over Revised FEMA Rules; RBI Considering Proposals
Exporters have flagged at least half-a-dozen concerns regarding revised Foreign Exchange Management Act (FEMA) rules that take effect later this year, with the Reserve Bank of India (RBI) considering several proposals favourably. Key issues include a 14% fall in priority sector export credit, restrictive export realisation provisions, and difficulties with merchanting trade and EDPMS platforms.
Finance Humble Re 1 Coin Retains Coining Glory Despite Rise of Digital Payments, RBI Data Shows
Despite the rise of digital payments like UPI, the Re 1 coin remains the most widely circulated denomination in India, with nearly 5,499 crore coins in circulation as of March 2026, according to the RBI Annual Report 2025-26. The coin accounts for 38.4% of all coins by number, though its share by value has declined as higher-denomination coins like Rs 5 and Rs 10 gain ground. Experts attribute its persistence to small cash transactions in temples, rural markets, and informal services.
Finance Rupee Gains 10 Paise to 94.45 as Softer Crude and Equities Boost Sentiment
The Indian rupee appreciated 10 paise to close at 94.45 against the US dollar on Thursday, driven by lower global crude oil prices, a positive domestic equity market, and a marginally weaker greenback. Forex market will remain closed on Friday for Muharram. Analysts expect the rupee to trade in a 94.20-94.80 range, with a negative bias from a hawkish Federal Reserve offset by softer commodity prices.
Trade Finance US Dollar's Dominance in Global Trade Examined in BBC Podcast on Currency Power
The BBC podcast 'Rethink' investigates the US dollar's central role in global trade, from Bretton Woods to the Nixon shock, and discusses challenges from China and digital currencies. Trade finance professionals should note implications for sanctions and FX risk.
Finance Rupee Falls 30 Paise to 94.63 Against Dollar as Middle East Uncertainty Weighs
The Indian rupee fell 30 paise to close at 94.63 against the US dollar on Monday, pressured by a strong dollar index and lingering Middle East uncertainty. Forex traders noted volatile trading as supportive inflows were offset by firm dollar demand and a lack of clarity on a long-term peace deal. The RBI net sold $8.944 billion in the spot forex market in April, following $9.758 billion in March.
Commodities Gold, Silver Prices Remain Under Pressure Amid Strong Dollar and Hawkish Fed Outlook
Gold and silver prices faced sustained pressure during the week due to a stronger US dollar and a hawkish Federal Reserve outlook. The Dollar Index rose to 101 after the Fed held rates steady but signaled possible hikes. On MCX, gold futures fell 2.2% and silver dropped 5.3%, while COMEX gold lost over 1.5% and silver fell 4.5%.
Finance Will the Rupee Recovery Last? Analysing Oil Prices, FPI Outflows and RBI Measures
The Indian rupee recovered from an all-time low of 96.96 against the dollar to 94.33, aided by falling oil prices and RBI measures to attract foreign inflows. However, the currency remains down 6% for the year, and continued pressure from high oil import costs and record foreign portfolio outflows raises questions about the sustainability of the recovery.
Finance Rupee ends higher for second day, settles at 94.33 as trade deal hopes offset oil concerns
The Indian rupee extended gains for a second consecutive session, settling 7 paise higher at 94.33 against the US dollar on Friday. Optimism over India-US trade negotiations and a decline in Brent crude oil prices supported the currency, though a stronger dollar and uncertainty around US-Iran talks capped gains. Foreign institutional investors turned net buyers, purchasing equities worth Rs 4,859.07 crore.
Finance Rupee rebounds 20 paise to 94.20 against US dollar on India-US trade deal hopes
The Indian rupee strengthened 20 paise to 94.20 against the US dollar in early trade on Friday, driven by optimism over a potential India-US trade agreement and supported by improving foreign inflows and softer crude oil prices. Foreign Secretary Vikram Misri confirmed that trade figured prominently in recent Modi-Trump talks, with US Trade Representative Jamieson Greer expected to visit India next week. Forex analyst Amit Pabari noted that the RBI may have already purchased USD 3–5 billion over the last two sessions to rebuild reserves.
Finance Rupee Tumbles 21 Paise to 94.66 Against US Dollar on Fed Hawkish Stance
The Indian rupee depreciated 21 paise to open at 94.66 against the US dollar on Thursday, following the Federal Reserve's hawkish policy stance which strengthened the greenback. The dollar index climbed to a four-month high of 100.23, while domestic equity markets also opened lower. Positive developments include a US-Iran MOU and progress on India-US trade talks.
Finance Rupee closes flat at 94.52 vs USD as oil-led rally faces off against dollar demand; Fed verdict looms
The Indian rupee closed nearly unchanged at 94.5250 per US dollar on Wednesday, erasing earlier gains driven by a sharp drop in oil prices. Brent crude fell below $80 after the US and Iran reached an interim peace deal. Corporate and importer dollar demand reversed the rupee's rally. Market attention now shifts to the US Federal Reserve's first policy decision under Chair Kevin Warsh, with markets watching for any signal that the easing cycle may be ending.
Finance Rupee Rebounds 31 Paise to 94.29 as Easing Oil, Dollar Index Boost Sentiment
The Indian rupee strengthened 31 paise to 94.29 against the US dollar on Wednesday, driven by softer crude oil prices and a weaker dollar index. The currency has recovered 130 paise over the past three sessions as the US-Iran framework agreement buoyed sentiment. Forex traders caution that the recovery, while real, is not yet firmly grounded ahead of the Geneva signing on June 19.
Finance Rupee snaps two-day rally, settles 2 paise lower at 94.60 against US dollar
The Indian rupee closed 2 paise lower at 94.60 against the US dollar on Tuesday, ending a two-session gaining streak. Despite easing crude oil prices and optimism over a US-Iran peace deal, foreign capital outflows from equities weighed on the currency. Analysts expect the USD-INR pair to trade within a 94.10-94.90 range in the near term.
India and Sri Lanka Strengthen Trade Ties with Local Currency Settlement Initiative
India and Sri Lanka are deepening bilateral trade finance ties through local currency settlement (INR-LKR), reducing dollar dependency and transaction costs. The initiative, discussed at a round-table in Colombo, allows Sri Lankan banks and importers to access Indian rupee loans directly, preserving hard currency reserves.
Business West Asia peace deal lifts Sensex 736 points, rupee strengthens 40 paise
The West Asia peace deal between the US and Iran sent Indian stocks soaring, with the Sensex gaining 736 points to close at 76,264. Foreign portfolio investors turned net buyers after days of selling, while crude oil prices plunged over 5% and the rupee strengthened 40 paise to 94.71 against the dollar.
Trade Finance India and UAE Intensify Efforts to Expand Local Currency Trade Settlement Beyond Oil and Gold
India and the UAE are intensifying efforts to expand the use of local currencies (rupee and dirham) for bilateral trade settlement. More than 15% of trade has been invoiced in local currencies since July 2023, but adoption remains concentrated in oil and precious metals. Authorities plan to simplify procedures, onboard more banks, and engage business communities through roadshows and chambers of commerce to reduce reliance on the US dollar.
Finance Rupee rallies to five-week high on crude oil plunge; RBI measures add to momentum
The Indian rupee strengthened to a five-week high of 94.71 against the US dollar on Monday, supported by a sharp drop in crude oil prices after a preliminary US-Iran agreement and by RBI measures to attract dollar inflows. Traders and economists see further support for the currency, though the central bank's willingness to allow gains remains a key factor.
Business US-Iran Peace Deal Lifts Markets: Asian Stocks Soar, Dollar Slides to June 5 Low, Oil Tumbles & Gold Jumps 2%
The United States and Iran announced a framework agreement to end their conflict, reopening the Strait of Hormuz and lifting the US naval blockade. Global markets rallied on Monday, with Asian stocks surging, the US dollar falling to a 10-day low, oil prices tumbling over 4%, and gold jumping 2%.
Trade US-Iran Peace Deal May Help Boost India's Exports, Stabilise Rupee
The US and Iran have reached a peace deal to end a four-month war, with the agreement to be signed on June 19 in Switzerland. Export bodies and analysts say reopening the Strait of Hormuz will stabilise energy markets, strengthen the rupee, and boost India's exports, which had fallen sharply during the conflict.
Finance West Asia uncertainty, oil and gold imports weaken rupee: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman attributed rupee weakness to persistent West Asia uncertainty and India's import dependence on crude oil, gas, fertilisers, and gold. She noted RBI intervention using forex reserves and the impact of FII/FDI outflows to the US on reserves. The rupee's slide is not unique, with the Japanese Yen and Korean Won also falling sharply.
Finance Rupee-Dollar Movement Driven by Global and Domestic Factors, Sitharaman Says RBI Steps In Only to Curb Volatility
Union Finance Minister Nirmala Sitharaman stated that rupee-dollar movements are driven by global and domestic factors such as US Fed policy, foreign capital flows, and currency crashes in Japan and Korea. She emphasised that the RBI intervenes only to curb excessive volatility, not to fix the exchange rate, using foreign exchange reserves sparingly.
Finance West Asia Tension Sinks Sensex 719 Points, Rupee Falls 76 Paise to 95.71/$
Fresh geopolitical tensions between Iran and Israel on Monday triggered a sharp sell-off in Indian markets, with the Sensex falling 719 points (1%) to close at 73,524 and the rupee weakening 76 paise to 95.71 against the dollar. Crude oil prices spiked over 5% intraday before retreating, while Asian markets also plunged. Reports of a ceasefire later lifted global sentiment, but Indian markets ended at a one-month low.
Finance Rupee Gains 20 Paise to Settle at 95.41 Against US Dollar, Snapping Losing Streak
The Indian rupee snapped its losing streak and appreciated 20 paise to close at 95.41 against the US dollar, driven by easing crude oil prices, a weaker dollar, positive domestic equities, and likely RBI intervention. Analysts expect the rupee to remain range-bound with a negative bias due to West Asia uncertainties.
Finance Bank stocks rally as RBI pushes for forex assets with FCNR(B) swap window guidelines
Indian bank stocks rallied after the RBI issued operational guidelines for a special FCNR(B) swap window, with public sector lenders leading gains. The RBI will absorb hedging costs and exempt CRR/SLR requirements, aiming to attract up to $50 billion in foreign currency deposits. The rupee strengthened 35 paise to 95.36 per dollar.
Finance Rupee opens at 95.35 against US dollar amid Middle East tensions and stronger greenback
The Indian rupee opened at 95.35 against the US dollar on Monday, down 17 paise from Friday's close of 95.18, as geopolitical tensions in the Middle East, a stronger dollar index at 95.33, and rising Brent crude oil prices to $96.28 per barrel weighed on market sentiment. Forex traders remain cautious, with the dollar's strength and US economic data in focus ahead of potential Fed rate decisions.
Trade Finance Rupee Strengthens to 95.20 Against US Dollar on Middle East Peace Hopes
The Indian rupee strengthened to 95.20 against the US dollar, driven by hopes for peace in the Middle East, as reported by the TOI Business Desk. The movement has trade finance implications for importers and exporters.
Finance Rupee Strengthens as Oil Prices Fall and Inflow Expectations Rise
The Indian Rupee appreciated by 0.4% against the US dollar, closing at 95.35, driven by a 2% drop in Brent crude prices. Regulatory measures and inflow expectations are reducing the currency's weakening bias.
Trade Finance RBI's Forex Risk Absorption to Boost Inflows by $50 Billion
The Reserve Bank of India (RBI) is set to absorb forex risks to attract overseas funds, potentially boosting inflows by $50 billion. This move involves no premium charges on FCNR(B) deposits and a 1.5% swap cost for external commercial borrowings, benefiting public sector undertakings.
Finance India's Forex Reserves Increase by $938 Million to $682.32 Billion
India's foreign exchange reserves rose by $938 million to $682.32 billion as of May 28, 2026, according to the Reserve Bank of India. This increase follows a previous decline and reflects changes in foreign currency assets and gold reserves.
Commodities Polymer Notes: India's Potential Shift in Currency Material
The Reserve Bank of India is exploring the introduction of polymer currency notes to improve durability and security. This move could significantly reduce printing costs and counterfeiting risks.
Trade Rupee Declines Amid Tariff Concerns, Oil Price Surge
The Indian rupee fell 40 paise to 95.76 against the US dollar due to proposed US tariffs and rising oil prices. The USTR's additional duties on imports from India and other countries have heightened market concerns.
Finance RBI's Income Surges 26% to ₹4.3 Lakh Crore on Dollar Gains
The Reserve Bank of India's income increased by 26% to ₹4.3 lakh crore in FY26, largely due to gains from dollar investments and forex market interventions. This growth reflects a strategic advantage in foreign currency operations and domestic bond income.