rupee

The rupee breached the 54 mark to open at 54.20 against a dollar. The rupee had closed at 53.71 yesterday. Currently it is trading at 54.23. The general sense in the market is that the RBI does not want to throw good money after bad. The RBI data suggests that on two days in November, the Reserve Bank of India had intervened, but that had not help the rupee. Full Article

As the Rupee slides to new low against the dollar, NRIs are making a beeline to send the remittances back home. The leading bankers in Dubai say the expatriate Indians are opting for personal loans, cash advances through credit cards and salary advances to remit money back home. Some have even resorted to mortgaging properties to raise loans and send the money back to India. Some banks have also come out with attractive features like special money transfer rates and disc.. Full Article

In the month of October 2010, the monthly average exchange rate of rupee was Rs. 44.5 per US dollar, indicating 3.6 per cent appreciation over the exchange rate of Rs.46.1 in September 2010. The rupee however, has depreciated by 2.4 per cent against Full Article

India would intervene in the foreign exchange markets if needed to maintain stability, the central bank's governor said during a panel discussion at the International Monetary Fund in Washington on Saturday. Full Article

A public competition was held amongst resident Indian citizens inviting entries for the symbol, which reflects and captures the Indian ethos and culture. Over 3000 entries were received, which were evaluated by a Jury headed by the Deputy Governor, RBI, which also included experts from three reputed art and design Institutes. The entries were presented to the Jury in such a manner that identity of the competitors was not revealed to the Jury members. The Jury selected.. Full Article

After last week's robust performance, this week too major indices across the globe ended on a positive note. The Indian markets though, were not amongst the top gainers this week, and were infact the lowest gainers among all other markets. India’s benchmark index, the BSE-Sensex closed with gains of 0.4%. Part of the reason for this dull performance when compared to other major markets is the uncertainty surrounding interest rates and the Indian government’s anticipa.. Full Article

Attention of Authorised Dealer Category – I (AD Category – I) banks is invited to the Memorandum of Instructions for Opening and Maintenance of Rupee / Foreign Currency Vostro Accounts of Non-resident Exchange Houses, issued vide A.P.(DIR Series) Circular No. 28 [A.P. (FL/RL Series) Circular No. 02] dated February 6, 2008 and A.P.(DIR Series) Circular No. 11 [A.P. (FL/RL Series) Circular No. 01] dated August 22, 2008. In view of the difficulties expressed by AD Categ.. Full Article

About ‘Exchange Rate’ of a currency: The exchange rate of the currency of a country in relation to the currency of another country depends on the comparative trade advantages and economic strengths of the countries. If one US dollar is equal to 45 rupees, it simply means that in the US, if a dollar fetches [...] Full Article