Forex Clearing

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  Rupee Gains A Touch To Below 78 Per Dollar; Clear Downside Risks Remain

  The rupee gained a touch early on Wednesday to below 78 per dollar, but the risks remain to the downside driven expected gains in the greenback on large Fed rate hike bets.

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  Why Foreign Investors Have Mostly Steered Clear Of Mega LIC IPO

  Foreign institutional investors have on the whole steered clear of Indias biggest share sale, deeming it too expensive given currency risks and the global market backdrop.

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  Pound Powers Higher As Expected Tory Win Clears Brexit Doubts

  The early UK poll results suggest the election will relieve almost four years of uncertainty about when Brexit would take place.

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  Bundesbank Concerns Pushed RBI To Halt Asian Clearing Union Euro Settlement

  Concerns raised by Germany's Bundesbank led the Reserve Bank of India (RBI) to suspend trade in euros through the Asian Clearing Union, a regional trade settlement system, H R Khan, deputy governor of the Reserve Bank of India, said on Monday.

• RBI Against Inclusion of Gold, Forex Under CRR

  However, the central bank is of the view that the impact of maintenance of CRR in foreign currency with the central bank may have a desired policy impact on the credit market, while it is not clear how the same policy impact on domestic liquidity can be achieved by prescribing CRR to be maintained in form of gold.

• Rupee Fall to 61.40 on Broad Dollar Gains

  Dollar rallied against global majors after Republican victory in US mid-term elections clears political uncertainty

• Rupee Ends Higher at 59.27 Per Dollar; Retail Inflation in Focus

  The rupee held in a tight range on Wednesday as lack of fresh domestic triggers prompted investors to stay on the sidelines while mixed Asian currencies and shares also failed to provide any clear direction.

• Rupee Surges to 59.60 on Hopes of Clear BJP Victory

  Hindu nationalist Narendra Modi is set to become India's next prime minister, four major exit polls showed on Monday, with his opposition party the Bharatiya Janata Party (BJP) and its allies forecast to sweep to a parliamentary majority in the world's biggest-ever election.

• RBI for two-stage verification for online transactions

  Worried over rising number of frauds in online banking, the Reserve Bank of India (RBI) has suggested that banks introduce two-stage authentication to ensure security of transactions.

• Rupee weakens to above 60 per dollar

  The rupee was trading weaker at 60.01, tracking a largely unchanged domestic share market with mixed Asian currencies failing to provide any clear direction.

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  BCCI unhappy as Shashank Manohar wants to wash hands of forex violation case

  Ex-BCCI president Shashank Manohar has submitted an affidavit in the High Court to clear his name from the cases filed against the BCCI by the Enforcement Directorate.

• India has adequate forex reserves: Montek

  Planning Commission deputy chairperson Montek Singh Ahluwalia also said the rupee's fall this year has clearly overshot limits.

• In struggle for clear message, policymakers harm rupee defence, say traders

  Mixed signals from the Reserve Bank of India (RBI) and the government over how to handle the fall in the rupee has contributed to its decline, according to investors.

• Quantitative capital controls more effective in short term: Subbarao

  "It should also be clear that a failed defence of the exchange rate is worse than no defence. So, when you are intervening in the forex market, it is important to make sure that your intervention is successful," Mr Subbarao said.

• Deadline for banks' FX forward settlement removed for now: sources

  The deadline mandating Indian banks sign agreements to settle FX forward trades via Clearing Corporation of India Ltd (CCIL) has been removed for now, two sources with direct knowledge of the development told Reuters on Thursday.