Forex Rules

The Enforcement Directorate on Friday said it has slapped Rs 62 lakh penalty on Kashmiri businessman Zahoor Ahmad Shah Watali, already facing terror-funding charges, for alleged violation of foreign exchange rules and operating bank accounts in Delhi using fake NRI credentials.

After four days of depreciation, the rupee advanced 0.3 per cent against the dollar to end at 71.03 on Thursday. That marked a gain of 21 paise for the rupee against the greenback from the previous close of 70.24, a day after the central bank announced new rules for overseas borrowings. Weakness in the United States currency overseas amid a dip in ...

Banks currently have to buy government bonds worth about 19.5 per cent of their deposits as a part of their statutory liquidity ratio (SLR).

The rupee declined sharply against the US dollar on Monday, snapping gains registered in past two consecutive sessions. The rupee fell 67 paise to close at 72.51 against the greenback. The decline came after weekend announcement by the government to contain the rupee fall and lower current account deficit failed to bring cheer to the Street. The g...

The Reserve Bank imposed penalty on five foreign banks, including Deutsche Bank and Standard Chartered Bank, for violation of its instructions on reporting requirements of the FEMA.

The rupee continued to rule firm for a third day, moving up by another 10 paise to 67.04 per dollar on Thursday, on persistent selling of the American currency by banks and exporters in view of sustained foreign capital inflows into domestic equities.

The Securities and Exchange Board of India (Sebi) relaxed currency derivatives rules on Wednesday, allowing participants to continue to hold on to their open position limits even if total open interest in a currency pair falls at a stock exchange.

The rupee continued to rule firm against the dollar for a fourth straight session, moving up by another 20 paise to close at a fresh three-week high of 66.77 on Tuesday, on sustained selling of the American currency by banks and exporters amid strong recovery in domestic equities.

The rupee was quoted steady against the American currency in the late morning trade at 66.54 on fresh selling of dollars by banks and exporters on hopes of more foreign capital inflows.

Forex dealers said dollar's strength against other currencies overseas limited the gains.

The dollar index was down by 0.06 per cent against the basket of six currencies in the late afternoon trade.

The rupee continued to rule firm against the American currency for the fifth straight session and ended higher by 5 paise at 66.35 on persistent selling of dollars by banks and exporters amid a recovery in equities.

The rupee hovered between 67.09 and 66.96 during morning trade.

The Reserve Bank of India (RBI) said on Thursday that it would not apply its strict rules on foreign exchange transactions for residents in India who are repatriating an asset held abroad as long as all underlying taxes or penalties have been paid under the Black Money Act.

The Supreme Court on Monday dismissed liquor baron Vijay Mallya's plea seeking quashing of criminal proceedings against him in a case pertaining to violation of foreign exchange rules.

The Enforcement Directorate on Friday said it has slapped Rs 62 lakh penalty on Kashmiri businessman Zahoor Ahmad Shah Watali, already facing terror-funding charges, for alleged violation of foreign exchange rules and operating bank accounts in Delhi using fake NRI credentials.

After four days of depreciation, the rupee advanced 0.3 per cent against the dollar to end at 71.03 on Thursday. That marked a gain of 21 paise for the rupee against the greenback from the previous close of 70.24, a day after the central bank announced new rules for overseas borrowings. Weakness in the United States currency overseas amid a dip in ...

Banks currently have to buy government bonds worth about 19.5 per cent of their deposits as a part of their statutory liquidity ratio (SLR).

The rupee declined sharply against the US dollar on Monday, snapping gains registered in past two consecutive sessions. The rupee fell 67 paise to close at 72.51 against the greenback. The decline came after weekend announcement by the government to contain the rupee fall and lower current account deficit failed to bring cheer to the Street. The g...

The Reserve Bank imposed penalty on five foreign banks, including Deutsche Bank and Standard Chartered Bank, for violation of its instructions on reporting requirements of the FEMA.

The rupee continued to rule firm for a third day, moving up by another 10 paise to 67.04 per dollar on Thursday, on persistent selling of the American currency by banks and exporters in view of sustained foreign capital inflows into domestic equities.

The Securities and Exchange Board of India (Sebi) relaxed currency derivatives rules on Wednesday, allowing participants to continue to hold on to their open position limits even if total open interest in a currency pair falls at a stock exchange.

The rupee continued to rule firm against the dollar for a fourth straight session, moving up by another 20 paise to close at a fresh three-week high of 66.77 on Tuesday, on sustained selling of the American currency by banks and exporters amid strong recovery in domestic equities.

The rupee was quoted steady against the American currency in the late morning trade at 66.54 on fresh selling of dollars by banks and exporters on hopes of more foreign capital inflows.

Forex dealers said dollar's strength against other currencies overseas limited the gains.

The dollar index was down by 0.06 per cent against the basket of six currencies in the late afternoon trade.

The rupee continued to rule firm against the American currency for the fifth straight session and ended higher by 5 paise at 66.35 on persistent selling of dollars by banks and exporters amid a recovery in equities.

The rupee hovered between 67.09 and 66.96 during morning trade.

The Reserve Bank of India (RBI) said on Thursday that it would not apply its strict rules on foreign exchange transactions for residents in India who are repatriating an asset held abroad as long as all underlying taxes or penalties have been paid under the Black Money Act.

The Supreme Court on Monday dismissed liquor baron Vijay Mallya's plea seeking quashing of criminal proceedings against him in a case pertaining to violation of foreign exchange rules.