Foreign Exchange

Since Moscow's invasion in February 2022, Western sanctions have led to the freezing of some 300 billion euros of Central Bank of Russia foreign exchange reserves around the world.

The Enforcement Directorate today said it has seized an asset worth Rs 36.8 crore of a Goa-based miner's son as part of its investigation into 'Pandora Papers' leaks which "revealed" his alleged undisclosed foreign exchange dealings outside India.

The centre has allowed its firms to list on exchanges registered in a new financial hub in Gujarat, Finance Minister Nirmala Sitharaman said on Friday, to give companies access to easier and cheaper foreign capital.

Finance Minister Nirmala Sitharaman said today that Indian companies can now go in for direct listing on foreign exchanges as well as on the International Financial Services Centre (IFSC) bourse in Ahmedabad.

In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju's, seizing laptops and publicly linking the world's most valuable education-technology startup with possible foreign exchange violations.

India's forex reserves have swelled by USD 12.743 billion to USD 609.022 billion in the week ended July 14, making it one of the strongest weekly surges in the kitty in recent times, the Reserve Bank of India said today.

The properties of Jet Airways founder Naresh Goyal and his associates' were searched by the Enforcement Directorate (ED) in a case linked to alleged foreign exchange law violation.

External Affairs Minister S Jaishankar met his counterparts from Nepal and Bangladesh here today and agreed to work closely to implement the agenda of cooperation set out by the leaderships and exchanged views on regional issues.

Benchmark BSE Sensex closed above the historic 66,000 mark for the first time while NSE Nifty hit a new all-time closing high on Friday driven by heavy buying in IT counters and fresh foreign fund inflows.

Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.

Industrialist Anil Ambani's wife Tina Ambani today joined the probe in an alleged case of foreign exchange rules violation.

Industrialist Anil Ambani was questioned by the Enforcement Directorate today in an alleged case filed under the Foreign Exchange Management Act (FEMA), 1999.

Armenia and Azerbaijan regularly exchange fire across their shared borders, but foreign nationals are not usually affected.

India's overall foreign exchange reserves declined by USD 4.339 billion to USD 589.138 billion in the week that ended on May 26, 2023, data released by the Reserve Bank of India on Friday showed.

India's foreign exchange reserves continue to rise and are edging towards USD 600 billion, hitting a nearly one-year high. In the week that ended on May 12 for which data is available, the reserves rose by USD 3.553 billion to USD 599.529 billion.

Since Moscow's invasion in February 2022, Western sanctions have led to the freezing of some 300 billion euros of Central Bank of Russia foreign exchange reserves around the world.

The Enforcement Directorate today said it has seized an asset worth Rs 36.8 crore of a Goa-based miner's son as part of its investigation into 'Pandora Papers' leaks which "revealed" his alleged undisclosed foreign exchange dealings outside India.

The centre has allowed its firms to list on exchanges registered in a new financial hub in Gujarat, Finance Minister Nirmala Sitharaman said on Friday, to give companies access to easier and cheaper foreign capital.

Finance Minister Nirmala Sitharaman said today that Indian companies can now go in for direct listing on foreign exchanges as well as on the International Financial Services Centre (IFSC) bourse in Ahmedabad.

In late April, Indian officials in plainclothes raided the Bengaluru offices of Byju's, seizing laptops and publicly linking the world's most valuable education-technology startup with possible foreign exchange violations.

India's forex reserves have swelled by USD 12.743 billion to USD 609.022 billion in the week ended July 14, making it one of the strongest weekly surges in the kitty in recent times, the Reserve Bank of India said today.

The properties of Jet Airways founder Naresh Goyal and his associates' were searched by the Enforcement Directorate (ED) in a case linked to alleged foreign exchange law violation.

External Affairs Minister S Jaishankar met his counterparts from Nepal and Bangladesh here today and agreed to work closely to implement the agenda of cooperation set out by the leaderships and exchanged views on regional issues.

Benchmark BSE Sensex closed above the historic 66,000 mark for the first time while NSE Nifty hit a new all-time closing high on Friday driven by heavy buying in IT counters and fresh foreign fund inflows.

Indian online gaming firms planning to relocate overseas to avoid a new 28 percent tax on the sector run the risk of violating the country's foreign exchange laws, Vivek Johri, head of the indirect taxes' department, said on Thursday. New Delhi does not plan to implement the tax retrospectively, he said, in response to speculation it could do so.

Industrialist Anil Ambani's wife Tina Ambani today joined the probe in an alleged case of foreign exchange rules violation.

Industrialist Anil Ambani was questioned by the Enforcement Directorate today in an alleged case filed under the Foreign Exchange Management Act (FEMA), 1999.

Armenia and Azerbaijan regularly exchange fire across their shared borders, but foreign nationals are not usually affected.

India's overall foreign exchange reserves declined by USD 4.339 billion to USD 589.138 billion in the week that ended on May 26, 2023, data released by the Reserve Bank of India on Friday showed.

India's foreign exchange reserves continue to rise and are edging towards USD 600 billion, hitting a nearly one-year high. In the week that ended on May 12 for which data is available, the reserves rose by USD 3.553 billion to USD 599.529 billion.