Rouble

The idea involves avoiding pegging the exchange rate with the dollar or any other third currency. However, the official says that in order to establish a direct FX rate, the rupee and ruble would need to trade in the same currency exchange platform for a much larger quantity and for a longer duration while the two sides workout a mutual referencing price.

EU payment in roubles for Russian gas would violate sanctions regime: Report

The note, making clear it is technical, preliminary, and based on an unofficial translation of the Russian Presidential Decree of March 31, said the law added several new layers of obligations on EU gas buyers, taking the effective completion of the purchase out of their hands.

US stops Russian bond payments, raising risk of default

The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million from reserves held at U.S. banks, in a move meant to ratchet up pressure on Moscow and eat into its holdings of dollars.

US officials circle globe to keep pressure on Vladimir Putin as rouble rises

The effort comes as the initial impact of unexpectedly tough sanctions on Russian banks, oligarchs and companies begins to wear off somewhat, and the United States considers its next economic steps to isolate Russian President Vladimir Putin.

Bank of Russia, RBI to create framework for bilateral trade, banking: Report

A senior official from the Bank of Russia, probably at the level of a deputy governor or general manager, might lead the talks with the RBI officials.

Russia warns West: gas bills in roubles are just days away

Payments in roubles would shore up the Russian currency, which has plummeted since the invasion on Feb. 24. Putin's speech lifted the rouble 9% against the dollar on Wednesday.

Russian rouble drops to record lows in Moscow amid fresh sanctions

Catching up after two days of market closure, the rouble jumped to 120.83 to the dollar on the Moscow Exchange before clawing back some losses to close at 120, or 12.5% softer than its Friday close.

Rouble sell-off slows, dollar resumes rise as Ukraine crisis buffets trade

A modicum of calm has returned to currency markets since officials from Russia and Ukraine held an initial round of ceasefire talks overnight, four days after Russia invaded its neighbour, allowing some of the big moves from the start of the week to retrace after many positions were cleared out, said Shinichiro Kadota, senior FX strategist at Barclays in Tokyo.

Crude rallies, rouble plunges to record low as Ukraine risks rise

Haven demand boosted bond yields along with the dollar and yen while the euro sank after Russian President Vladimir Putin put nuclear-armed forces on high alert on Sunday, the fourth day of the biggest assault on a European state since World War Two.

Here's round up on currency market

Watch Manisha Gupta of CNBC-TV18 speaking about the current trend in currency market action.

CII inks MoU with Russia to boost economic ties

Industry body CII signed a pact with its Russian counterpart to strengthen bilateral economic cooperation between the countries.

Mood at WEF indicates India back as structural story: Kotak

Uday Kotak believes the US economy will do well in 2015. He expects US Federal Reserve to move on interest rate cycle in H2 CY15

Fitch cuts rating on Russia to 'BBB minus'

Fitch said the issue ratings on Russia's senior unsecured foreign and local currency bonds have also been downgraded to 'BBB minus' from 'BBB'.

Sun's margins may reduce to 30-32% post merger: Surajit Pal

As 2014 comes to an end, Surajit Pal of Prabhudas Lilladher shares his outlook on the year that was and the possible trends for 2015.

Russia says currency crisis over, but inflation set to soar

The rouble slumped to 80 per dollar in mid-December from an average of 30-35 in the first half of 2014.

India may see 6% GDP growth next year: Citi

Willem Buiter of Citigroup believes India is back on the reforms path, he adds: "India did better in 2014 than 2013 and I expect that this momentum will be maintained. We've got very sound monetary and exchange rate management. We've got better fiscal management than we had."

GM, JLR suspend car deliveries to Russian dealers

Jaguar Land Rover, the British luxury carmaker owned by Tata Motors, said its Russian sales subsidiary had stopped selling vehicles to franchised dealers on Wednesday due to falling rouble and would review the situation again on Friday.

Russian economy will rebound inevitably, says Prez Putin

Under pressure to show he has a plan to fix the economy, Putin told an end-of-year news conference the actions of the central bank and government had been "adequate" in a crisis he blamed on external factors.

Asia encouraged by Wall Street bounce, upbeat Fed

The jitters of recent days also calmed a touch as Russia managed to stabilise its rouble, if only for now, and oil prices eked out a rare bounce.

Russia can look at stepping up forex intervention: Barclays

Dennis Tan, Forex Strategist at Barclays, says the Russian market is facing confidence crisis.

Indian rupee opens at 63.77 per dollar; slips 24 paise

The rupee is expected to trade rangebound with a slightly negative bias. Range for the USD-INR is seen between 63.20-64/dollar, says Pramit Brahmbhatt of Veracity.

Rouble hits new lows as Russian rate hike fails to support

The rouble opened around 9 percent stronger against the dollar following the overnight 650 basis point rate hike, but it quickly reversed gains and fell to new lows, pushing losses this year against the dollar to 50 percent.

Nifty below 8100, Sensex weak; Bankex loses over 500 pts

Global markets are playing havoc with the Indian rupee breaching 63 per dollar for first time in 10-month from January 28. The markets are awaiting the outcome of two day FOMC meeting starting today.

Russia ups key interest rate to 17% to stop run on rouble

The announcement comes on the back of a plunge in the price of oil—Russia's main export and revenue source. The country also faces headwinds from Western sanctions over its conflicts with Ukraine

Ruble tumble: IT stocks rally as rupee tests 63/$

The Russian currency had tumbled over 50 percent against the dollar over the past half year on plunging oil prices and the west's sanctions linked to the Ukraine crisis.