Topic: Indian rupee

India-UAE Agreement on Use of Local Currencies for Cross-Border Transactions

India and the United Arab Emirates (UAE) have signed a Memorandum of Understanding (MoU) with the aim of establishing a framework for trade settlement in their respective national...

July 18, 2023    International / World Current Affairs

Record Fall of Indian Rupee

On May 9th Indian Rupee fell to its all-time low against the US Dollar, closing at 77.50 per USD. Why did the value of the Indian Rupee fall?...

May 11, 2022    Economy & Banking Current Affairs

RBI enhances scope of Special Non-Resident Rupee accounts

The Reserve Bank of India (RBI) has enhanced scope of ‘Special Non-resident Rupee’ (SNRR) by allowing persons residing outside India to open such accounts for purposes such as-...

November 24, 2019

Usha Thorat heads RBI task force on Offshore Rupee Markets

The RBI task force on Offshore Rupee Markets (ORM), headed by Usha Thorat, has suggested liberal currency market for offshore users. The panel recommended that onshore market hours...

August 9, 2019

How India can be a USD 5 trillion economy?

While Prime Minister Narendra Modi has promised to make India a USD 5 trillion economy by 2025, significant challenges still stand in way of India and its goal....

August 8, 2019

Rupee depreciates by 12 paise to 68.98 against US Dollar

The rupee is depreciated by 12 paise to 68.98 against the US dollar in early trade today on increased demand for the US currency from importers and rising...

March 28, 2019

RBI signs a $75 billion Bilateral Swap Arrangement (BSA) with Japan’s central Bank

The Reserve Bank of India (RBI) and Bank of Japan (BOJ) have signed a Bilateral Swap Arrangement (BSA) for 75 billion that will help in bringing greater stability...

March 4, 2019

Nepal Central Bank bans use of Indian Currency Notes

The Nepal Rastra Bank (NRB), the central bank of Nepal, has recently announced the ban of Indian currency notes with denominations above Rs.100. Under the new rule, Nepali...

January 21, 2019

Nepal bans all Indian currency notes above Rs 100

The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations in the country. The decision will adversely affect...

December 17, 2018

Masala Bonds

Masala Bonds are rupee-denominated bonds issued outside India, primarily in international markets, to raise capital from foreign investors. These bonds allow Indian entities to access overseas funding while...

May 1, 2018

RBI raises currency derivative trade limit to how much amount for residents and foreign portfolio investors

The Reserve Bank of India (RBI) has raised exposure limit under Exchange Traded Currency Derivatives (ETCD) trading for residents and foreign portfolio investors (FPIs) to 100 million across...

February 28, 2018

Forex Reserves of India tumble, looses 1.74 Billion Dollar

India’s Foreign exchange reserve plunged by 1.74 billion to 290 billion The RBI data showed a sharp fall in the India’s Forex reserves The Forex reserves has slipped...

June 3, 2012