Indian Rupee

Russia has accumulated billions of rupees in Indian banks which it can't use, Foreign Minister Sergei Lavrov said Friday, pointing to a ballooning trade surplus with the South Asian nation.

Commerce and Industry Minister Piyush Goyal on Saturday expressed hope that traders will soon be able to settle foreign trade in the rupee currency as several banks from different countries are opening special Vostro accounts with Indian banks.

Seven foreigners staying in Delhi and a local associate have been arrested for allegedly duping over 600 women in India of lakhs of rupees after befriending them on social media using fake identities, the Noida Police said on Wednesday.

The Reserve Bank of India said it is proposing to permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to resident users in the onshore market.

The Indian rupee, after adjusting for the fiscal year carry cost, was lower versus the USdollar on Wednesday amid higher U.S. yields and dollar inflow expectations.

The southern Indian state of Karnataka has approved an 80 billion rupee ($967.91 million) investment in the state by a unit of Taiwan's Foxconn.

With interest rates still on the rise, the Indian rupee is expected to fall against the US dollar, which could possibly benefit Indian IT stocks.

Traders said fall in crude oil price and weaker dollar against major currencies restricted the fall of the Indian currency.

RBI: Under a new economic capital framework adopted by the Indian central bank in 2019, it is required to maintain risk buffers at between 24.5% and 20% of its balance sheet.

Embattled Indian conglomerate Adani said today it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as part of its promoters' commitment to cut overall leverage backed by shares of the group's listed companies.

India and Sri Lanka are exploring the possibility of using the Indian Rupee for economic transactions and have discussed the initiative that will help in building a stronger and closer partnership through trade and investment-led measures between the two countries.

Indian lender State Bank of India on Thursday said it completed its first non-dollar transaction with Sri Lanka, by paying for exports in Sri Lankan rupees as India looks to bring

The Indian rupee declined against the dollar on Monday, as Asian currencies fell on the prospect of the U.S. Federal Reserve hiking interest rates further and for

Speaking at the 17th India Digital Summit earlier this week, a panel of industry insiders said that the use of CBDC is not coming with incentives for Indians. They explained that as opposed to the existing UPI online payment method, the programmable CBDC will make online payments cheaper, faster, and protected with a layer of anonymity.

Shree Cement Ltd posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier.

Russia has accumulated billions of rupees in Indian banks which it can't use, Foreign Minister Sergei Lavrov said Friday, pointing to a ballooning trade surplus with the South Asian nation.

Commerce and Industry Minister Piyush Goyal on Saturday expressed hope that traders will soon be able to settle foreign trade in the rupee currency as several banks from different countries are opening special Vostro accounts with Indian banks.

Seven foreigners staying in Delhi and a local associate have been arrested for allegedly duping over 600 women in India of lakhs of rupees after befriending them on social media using fake identities, the Noida Police said on Wednesday.

The Reserve Bank of India said it is proposing to permit banks with IFSC banking units to offer non-deliverable forex derivative contracts involving the Indian rupee to resident users in the onshore market.

The Indian rupee, after adjusting for the fiscal year carry cost, was lower versus the USdollar on Wednesday amid higher U.S. yields and dollar inflow expectations.

The southern Indian state of Karnataka has approved an 80 billion rupee ($967.91 million) investment in the state by a unit of Taiwan's Foxconn.

With interest rates still on the rise, the Indian rupee is expected to fall against the US dollar, which could possibly benefit Indian IT stocks.

Traders said fall in crude oil price and weaker dollar against major currencies restricted the fall of the Indian currency.

RBI: Under a new economic capital framework adopted by the Indian central bank in 2019, it is required to maintain risk buffers at between 24.5% and 20% of its balance sheet.

Embattled Indian conglomerate Adani said today it prepaid share-backed financing of 73.74 billion rupees ($901.16 million), as part of its promoters' commitment to cut overall leverage backed by shares of the group's listed companies.

India and Sri Lanka are exploring the possibility of using the Indian Rupee for economic transactions and have discussed the initiative that will help in building a stronger and closer partnership through trade and investment-led measures between the two countries.

Indian lender State Bank of India on Thursday said it completed its first non-dollar transaction with Sri Lanka, by paying for exports in Sri Lankan rupees as India looks to bring

The Indian rupee declined against the dollar on Monday, as Asian currencies fell on the prospect of the U.S. Federal Reserve hiking interest rates further and for

Speaking at the 17th India Digital Summit earlier this week, a panel of industry insiders said that the use of CBDC is not coming with incentives for Indians. They explained that as opposed to the existing UPI online payment method, the programmable CBDC will make online payments cheaper, faster, and protected with a layer of anonymity.

Shree Cement Ltd posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier.