Topic
Fx Currency
Finance Weaker rupee may push foreign assets over FAST-DS Rs 1 crore limit, raising tax bill
The rupee's 14-33% decline over three to seven years may push foreign holdings above the FAST-DS Rs 1 crore limit, potentially disqualifying taxpayers from the 60% tax-and-penalty disclosure window. The Income Tax Department's voluntary scheme, open since August 16, uses March 31, 2026 as the exchange-rate date for assets, but experts disagree on whether income should be converted at that date or the year-earned rate. Taxpayers with over Rs 1 crore in undisclosed income are weighing updated returns alongside FAST-DS, but face risks of void declarations if facts are suppressed.
Finance RBI Turns Net Buyer of Dollars in June After Two Months of Heavy Sales
The Reserve Bank of India turned net buyer of dollars in June, purchasing $561 million after selling $6.1 billion in May and $3.6 billion in June 2025. An NRI deposit swap scheme boosted inflows, narrowing cumulative FY net sales to -$14.5 billion and cutting the forward short position to -$103.3 billion.
Finance Rupee Slips to 95.74 Against US Dollar as Crude Prices, Importer Demand Weigh
The rupee weakened 4 paise to 95.74 against the US dollar in early trade on Tuesday, pressured by higher crude prices and importer demand, according to Business-Today. The RBI's intervention through state-run banks kept the currency range-bound around ₹95.50–96.00, with the dollar index at 99.04 and Brent crude at $92.45 a barrel. The central bank's USD-INR swap facility has mobilised $73 billion in forex inflows as of August 21.
Finance RBI Steps In to Support Rupee as Oil Prices and Dollar Demand Rise
The RBI likely intervened in the foreign exchange market on Tuesday to support the rupee, which was little changed at 95.7350 per dollar despite elevated oil prices and corporate dollar demand, four traders told Reuters. Brent crude traded at $92.45 a barrel, the dollar index at 99.04, and India's equity benchmarks opened lower. Separately, the RBI's special USD-INR swap facility mobilised $73 billion in forex inflows as of August 21.
Finance Bitcoin Crosses $80,000 for First Time Since Mid-May on Weaker Dollar, Up 28% in August
Bitcoin crossed $80,000 for the first time since mid-May, reaching an intraday high of $81,237.94, as a weaker dollar and Treasury plans to buy back long-dated bonds drove demand for alternative assets. The cryptocurrency gained 28% in August, its biggest monthly increase since November 2024, after President Trump urged clearer cryptocurrency rules.
Finance Rupee banknotes outnumber dollar and euro in circulation, RBI deputy governor says
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the volume of US dollar bills and nearly six times euro notes. The scale reflects India's denomination mix and a 'cash paradox' of double-digit currency growth amid rising digital payments.
Finance Rupee Banknotes in Circulation Triple Dollar Bills, Nearly Six Times Euro Notes
RBI Deputy Governor Shirish Chandra Murmu said 176 billion rupee banknotes are in circulation, three times the number of US dollar bills and nearly six times euro notes. India produces 28–30 billion notes a year and is exploring polymer and coatings to extend note life. Currency in circulation keeps growing at double-digit rates despite digital payment adoption.
Finance Rupee slips 7 paise against US dollar as Brent crude tops $91 per barrel
The rupee slipped 7 paise to 95.68 against the US dollar on Tuesday as Brent crude futures topped $91 a barrel and the RBI closed its concessional FCN (B) swap window. The dollar index was steady at 99.63, while FIIs net sold Rs 2,535.10 crore in equities. Anil Kumar Bhansali of Finrex Treasury Advisors said the RBI may allow further depreciation.
Finance From kirana to currency: Small towns are scrambling for dollars
Small towns have surpassed major cities in India's foreign exchange demand, driven by international travel, education and business spending. Reports from Mastercard, ClarityX, MapmyIndia, TOI and Worldpanel document rising retail, housing and premium consumption in tier-2 and tier-3 markets. Treasury and finance executives should note the broadening base of dollar demand beyond metropolitan India.
Finance Rupee falls 17 paise to 95.59 as RBI brings forward FCNR swap deadline
The Indian rupee weakened 17 paise to 95.59 against the US dollar in early trade after the Reserve Bank of India moved the FCNR (B) concessional swap facility cut-off to August 31 from September 30. The facility has attracted $56.84 billion as of August 13, while India's forex reserves rose $14.136 billion to $707.002 billion in the week ended August 7.
Finance India’s forex demand shifts beyond metros as tier-2, tier-3 cities take 53% share
Tier-2 and tier-3 cities accounted for 53% of India's foreign exchange demand, with tier-2 alone at 41%, according to Thomas Cook India's Forex Report 2026. Leisure travel drove 57% of transactions, the US dollar led currency demand at 49%, and digital purchases grew 25% year-on-year.
Finance India's forex reserves climb to $707 billion, mark $14.1 billion jump
India's foreign exchange reserves rose by $14.136 billion to $707.002 billion in the week ended August 7, according to RBI data. The gain follows a $10.512 billion increase in the prior week and comes after measures including the FCNR(B) deposit scheme attracted about $40 billion in inflows, according to reports.
Finance Rupee Falls 7 Paise to 95.40 Against US Dollar Amid FII Selling, Geopolitical Risks
The Indian rupee fell 7 paise to 95.40 against the US dollar, according to TOI Business Desk, driven by foreign institutional investor selling and geopolitical risks. The move implies a prior close of 95.33 and a session depreciation of about 0.07%. The report did not provide additional details on outflows or geopolitical triggers.
Finance Rupee Slips 8 Paise Against US Dollar as Crude Prices Continue to Rise
The Indian rupee slipped 8 paise against the US dollar on 11 August 2026, according to a TOI Business Desk report. The report's headline links the move to continued strength in crude oil prices. No further market data was provided in the source.
Finance Rupee slips 8 paise against US dollar as crude rises amid Middle East chaos
The rupee slipped 8 paise to 95.25 against the US dollar in early trade on Monday, pressured by a firmer greenback and higher crude prices. Support came from FII inflows and a $10.512 billion rise in forex reserves to $692.866 billion. Treasury experts see range-bound trade with exporters selling up to 95.40 and importers buying dips at 95.
Finance India’s Forex Reserves Rise by $10.5 Billion to $692.8 Billion in Week Ended July 31
India’s foreign exchange reserves rose by $10.5 billion to $692.8 billion in the week ended July 31, according to RBI data reported by Akashvani. Foreign currency assets climbed $8.7 billion to $564.6 billion, while gold reserves added $1.6 billion. SDRs and the IMF reserve position also rose.
Finance Rupee slips to 95.28 against US dollar as oil prices and treasury yields stay elevated
The Indian rupee declined 6 paise to 95.28 against the US dollar in early Friday trade, pressured by a firmer greenback and elevated US Treasury yields. Brent crude rose to $83.48 per barrel and the dollar index held near 100, keeping the rupee's bias tilted toward weakness, according to analysts. The Sensex and Nifty fell, while FIIs were net sellers on Thursday.
Finance Rupee Hits 1-Month Closing High Despite RBI Repo Rate Pause as Crude Oil Slides
The rupee settled at 95.1175 per dollar on Wednesday, its strongest close since July 7, after gaining 0.5% at the open. The RBI kept its policy rate and stance unchanged, trimming gains, while Brent crude's 12% slump over two sessions had supported the currency. Forward premiums fell, and Bank of Baroda expects a December repo rate hike.
Finance Friendship with Benefits: Why Trump Is Helping Japan Rescue the Yen
The US and Japan staged the first coordinated intervention in almost three decades to strengthen the yen, spending up to $36.58 billion in a single day. The move shields Tokyo's more than $1.1 trillion Treasury holdings from forced sales, while changing the cost calculus for companies with yen exposure.
Finance Rupee rises 31 paise on weaker dollar, lower oil prices and continued FII inflows
The Indian rupee strengthened 31 paise to 95.12 against the US dollar on Monday, supported by a weaker dollar index, lower Brent crude prices and continued foreign portfolio inflows. Geopolitical tensions eased after US President Donald Trump delayed planned strikes on Iran, while RBI data showed forex reserves rose by $6.118 billion to $682.354 billion. FIIs bought equities worth Rs 277.48 crore on a net basis on Friday.
Finance Japan, US Back Yen in Rare Joint Intervention; Tokyo Signals More Possible
Japan's Ministry of Finance said it bought yen on July 31 in coordination with the US Treasury, citing excessive volatility. The intervention followed a September 2025 joint statement, and Tokyo said it will not hesitate to act again. Japan also cut its growth forecast to 0.9% from 1.3%.
Finance US and Japan Launch Rare Joint Intervention to Halt Yen Slide to 40-Year Low
Japan and the US confirmed a rare joint currency intervention to halt the yen's slide to a 40-year low. Bank of Japan data suggests Tokyo sold almost $59bn, while the US Treasury signalled further action. Both governments pledged to intervene again if disorderly moves continue.
Finance RBI's Dollar Swap Scheme Mop-Up Doubles to Over $40 Billion in Fortnight
The Reserve Bank of India's concessional dollar swap scheme has crossed $40.8 billion in forex mobilisation as of July 31, more than double the $17.4 billion raised in the first 42 days. FCNR(B) deposits alone exceeded the 2013 special window, despite higher US Treasury yields and tax-related headwinds for NRI investors.
Finance RBI's Special Swap Facility Draws $40.8 Billion in Foreign Inflows by July-End
Foreign currency inflows under the RBI's special swap facility rose to $40.816 billion by July 31, nearly doubling from $20.718 billion on July 17. FCNR(B) deposits contributed $36.725 billion, around 90% of total inflows, while the facility remains open through 2026.
Finance 'Buy $5-10 Billion Yen': Bessent's 'To Do' Note Hints at US Plan to Back Japanese Currency
A Reuters photograph of Treasury Secretary Scott Bessent's notepad at a Camp David cabinet meeting shows a 'To Do' entry to buy $5-10 billion yen, signaling US readiness to intervene in the currency market. The Financial Times reports the US has already joined Tokyo in yen support for the first time since 2011, while Japan may have spent $58.97 billion on Thursday alone.
Finance Rupee Gains for Fourth Straight Session as Dollar Weakens, Oil Prices Remain Below $90
The Indian rupee appreciated for the fourth straight session as the US dollar softened and oil prices remained below the $90 mark. The gains reflect broader currency market trends, though specific exchange rate data is not provided in the source.
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 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.
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.
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 India's forex boost: RBI swap scheme raises $20.72 billion so far, TOI reports
The Reserve Bank of India's foreign exchange swap scheme has raised $20.72 billion so far, according to the TOI Business Desk, boosting the country's forex reserves. This development has implications for trade finance costs and currency hedging for corporate treasuries.
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 Rupee Rises 14 Paise as Dalal Street Rally Offsets Geopolitical Headwinds
The Indian rupee strengthened 14 paise to 96.28 against the US dollar in early trade on Friday, supported by a rally in equity markets. However, gains were limited by sustained foreign fund outflows, firm crude oil prices, and escalating Middle East tensions. The dollar index edged up 0.02% to 100.78, while Brent crude rose 0.39% to $84.83 per barrel.
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.
Finance India's US Treasury Holdings Plunge to Near 6-Year Low as RBI Shifts Reserves into Gold
India's holdings of US Treasury securities fell to a near six-year low of $181 billion in April, according to US Federal Reserve data, as the Reserve Bank of India actively diversifies its foreign exchange reserves into gold. Gold reserves rose to 881 metric tonnes, valued at $102.5 billion, reflecting a strategic shift in reserve management amid global geopolitical uncertainty.
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.
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.
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 India's Forex Reserves Rise to $672.59 Billion After Gold Holdings Jump
India's foreign exchange reserves increased to $672.59 billion, according to a report by the TOI Business Desk of The Times of India. The rise was attributed to a jump in gold holdings.
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.
Finance India Offers Up to 9% Leverage on NRI Deposits, Guarantees Returns Over 7.1% to Bolster Forex Inflows
The Reserve Bank of India has authorized banks to extend loans against foreign-currency deposits from non-resident Indians, with leverage of up to 9 times and guaranteed returns of over 7.1%. The initiative aims to boost forex inflows and strengthen currency buffers, with potential inflows exceeding $80 billion. The move mirrors a 2013 taper tantrum strategy and complements other measures to support the rupee.
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.
Finance RBI Sold Nearly $9 Billion in Forex Spot Market in April Amid Rupee Pressure
The Reserve Bank of India (RBI) sold nearly $9 billion in the foreign exchange spot market in April to stem rupee depreciation, according to the Times of India. The intervention signals the central bank's active stance in managing currency volatility, with direct implications for corporate treasuries managing FX exposure and trade finance costs.
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.