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The Reserve Bank of India (RBI) has allowed exporters to access the foreign exchange market without having to first exhaust funds in their foreign currency accounts, reversing a previous restriction imposed to prevent a sharp fall in the rupee.

Buy USDINR at 55.40-55.25; tgt: 56: Karvy Stock Broking

Karvy Stock Broking has come out with its report on currency. As per the research firm, one can buy USDINR at around 55.40-55.25 for target: 56.00 then 56.50 with Stop Loss below 54.95

Despite fall, Rupee outperforming some EM peers: StanChart

The Indian currency is in the intensive care on ailing health. On Wednesday, it fell to a five-month low to 54.26 against the US dollar on increased capital outflows amid strong demand for the greenback.

Exporters up in arms against RBI's dictat to cut FX kitty

The RBI dictat to exporters on converting half of their dollar earnings held in exchange earners foreign currency or EEFC accounts has the sector up in arms.

RBI's inability to correct rupee worrisome: IndusInd

The RBI (Reserve Bank of India) tried to boost the Indian currency on Thursday after it directed exporters to convert 50% of their dollar earnings in the Exchange Earner's Foreign Currency (EEFC) account to rupee. However, despite the RBI's intervention, the rupee was at a record low and there was hardly any noticeable movement in the currency.

Economy to shape up as RBI's options dwindle with forex cut

CNBC-TV18‘s banking editor Latha Venkatesh explains that the RBI ordered exporters to sell 50% of foreign currency cheapened the dollar, but only for a few hours. She adds that the country has to shape up as the RBI runs out of tool to rein in the rupee

EEFC order raises risk of additional volatility: Bajaj Auto

After the RBI issued a directive stating that exporters will be required to convert 50% of their foreign exchange holdings into rupees, the Indian currency has reacted. Exchange Earners' Foreign Currency (EEFC) account holders have also been asked to buy forex only after the existing balance has been used.

See rupee in 52.75-53.5 range in near-term: IDBI Bank

The Reserve Bank of India has asked exporters to convert 50% of their dollars held in Exchange Earner's Foreign Currency (EEFC) accounts into rupee. NS Venkatesh, chief general manager and head treasury of IDBI Bank says, it is a welcome step.

Exporters need to sell $2.5-3bn after RBI move: Sources

Exporters will need to convert about USD 2.5-USD 3 billion dollars into rupees from their foreign exchange accounts following the Reserve Bank of India's directive on Thursday.

RBI to exporters: Convert 50% dollar holdings into rupee

the Reserve Bank of India has asked exporters to convert 50% of their dollars held in Exchange Earner's Foreign Currency (EEFC) accounts into rupee. The central bank has also ruled that exporters can henceforth access the forex market for buying dollars only after they have utilized the balance in their EEFC accounts.