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Foreign-currency loans taken out by Indian issuers have declined 30% to $3.2 billion so far in 2025 from the year-earlier period, and are running at a four-year low.
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The order is likely to strengthen Munjal's petition against the Enforcement Directorate proceedings, as the DRI case was based on ED's money-laundering investigation
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GIFT City, launched in the western state of Gujarat by Modi in 2011, has been planned as an alternative to regional financial centres like Dubai. It offers easier regulations compared with the rest of India but has seen a slow pick up in interest from foreign investors.
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While travelling abroad for higher studies, you can opt for multi-currency cards. Look for a forex card with zero markup on transactions in the base currency. It’s also advisable to carry 10 percent of your funds in cash for small purchases, especially in the early days.
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The High court .in the interim order, noted that since the Director of Revenue Intelligence's (DRI) complaint, which is the genesis of ED's investigation, has itself been stayed by the HC on November 3, the ED proceedings need to be stayed as well.
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The DGFT in a trade notice said that consultations were held with industry representatives, exporters, and nodal departments on outstanding issues pertaining to exports through e-commerce.
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As per the bulletin, the Indian rupee appreciated by 0.1 percent month on month vis-à-vis the US dollar in June 2023.
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As per latest RBI data, the central bank purchased $750 million worth of foreign currency in March on a net basis.
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The central bank said charges or fees on international debit cards and certain other instruments payable in India must now be settled in rupees.
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Rather such domestic deals involving foreign currencies such as the US dollar should be routed through the Reserve Bank of India.
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Up to 90 percent of your travel money should be in the form of cards if you’re travelling to destinations where acceptance of digital payments is high, says Sudarshan Motwani, Founder and CEO, BookMyForex.
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A daily round-up of the most interesting articles to help jump-start the day.
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When you buy a forex card from a bank or an online portal, or even foreign currency notes, you do not get them at the interbank rate. The rate at which you buy and sell foreign exchange is at a mark-up over the interbank rate. The closer your rate is to the interbank rate, the better it is.
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The RBI has, from time to time, issued several guidelines, instructions and directives to the banks on Unhedged Foreign Currency Exposure (UFCE) of the entities, which have borrowed from banks.
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If you’re thinking of using your debit or credit cards overseas, think again. Moneycontrol presents you with some sound options that will keep your money safe and save you a pretty packet. Read on to find out what they are.
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India has been the principal source of foreign assistance to Sri Lanka this year.
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Tourism accounts for about 5 per cent of Sri Lanka’s Gross Domestic Product (GDP), with Britain, India and China being the main markets. Sri Lanka is facing its worst foreign exchange crisis after the COVID-19 pandemic hit the island nation’s earnings from tourism and remittances.
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Sri Lanka is facing a severe forex crisis which forced the island nation to declare a default of its international debt in April, becoming the first Asia-Pacific country in decades to default on foreign debt.
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Due to ongoing withdrawals of foreign funds and losses in domestic equities, the rupee fell by 27 paisas to a record low of 78.40 (provisional) versus the US dollar on Wednesday.
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Options offer an alternative strategy for traders to profit from moves in the underlying currency
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"The economic situation and national interests in the country require that all Afghans use Afghan currency in their every trade," the group said in a statement shared with journalists by one of their spokesmen.
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The central bank’s reserve accumulation could eventually pose a risk to its ability to transfer dividend to the government as returns on forex assets are quite low.
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The FCCBs, set to mature on March 4, 2026, bear a coupon rate of 4.5 per cent. The bonds are proposed to be listed on Singapore Exchange Securities Trading Ltd.
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Two passengers— Nishant Vijay Yetam and Harsha Ranglani Raju—were on their way to Dubai with USD 1,72,800 and EUR 30,000
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The rupee has been rallying since January 2017. The domestic currency is trading at around 65.40 as against 67.90 in the beginning of January.
