![]() In general, use the exchange rate prevailing (i.e., the spot rate) when you receive, pay or accrue the item. dollars if you receive income or pay expenses in a foreign currency. Therefore, you must translate foreign currency into U.S. You must express the amounts you report on your U.S. The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic.Translating foreign currency into U.S. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. RBI's gold reserve up over 40% in five years Jun 7, 2023, 06:47PM IST.RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes. RuPay forex cards to be issued soon can be used at overseas ATMs, PoS machines, online merchants Jun 8, 2023, 10:55AM IST.In recent months, there have been a number of instances of forex scams when con artists entice the public with the promise of substantial returns on investments in a short amount of time. RBI issues fresh list of unauthorised forex trading platforms How to check authorised list Jun 8, 2023, 12:46PM IST.Meanwhile, Brent crude futures rose 0.38% to $76.25 per barrel, while the dollar index rose 0.19% to 103.54. The RBI left interest rates unchanged at 6.5% on Thursday, while foreign institutional investors were buyers in capital markets, purchasing shares worth Rs 212.40 crore, according to exchange data. The rupee opened at 82.49 and hit a low of 82.50 through the day. The rupee gained 4 paise to close at 82.47 against the dollar amid foreign fund inflows, though a strong dollar and weak domestic equities limited gains. Rupee rises 4 paise to close at 82.47 against US dollar Jun 9, 2023, 03:55PM IST.India's foreign currency assets, the biggest component of the forex reserves, rose by $5.270 billion to $526.201 billion. Snapping a two-week falling streak, India's foreign exchange reserves saw a rise of $5.929 billion and stood at $595.067 billion as on June 2, 2023, as per Reserve Bank of India data. ![]() India's forex reserves up $5.9 billion to $595.1 billion as on June 2 Jun 9, 2023, 05:18PM IST.It closed 0.3% stronger on Wednesday at 82.1062. The rupee is up 0.8% this year, and is one of only two Asian currencies that has gained against the greenback. The currency will probably strengthen to 80 per dollar by the end of the year, according to Namrata Mittal, chief economist at SBI Mutual Fund, its first annual appreciation since 2017. Biggest Indian fund manager sees rupee climbing to 80/dollar by 2023 end Jun 15, 2023, 10:02AM IST.trading partners had manipulated their currencies for an export advantage and ended "enhanced analysis" for Switzerland after the country met only one of three manipulation criteria. Treasury said on Friday it found that no major U.S. Taiwan says will it keep talking to US on forex policies Jun 17, 2023, 02:13PM IST.ETMarkets Smart Talk-As we inch towards record highs, investors should keep an eye on monsoon as well: Anand Dalmia Jun 20, 2023, 09:00AM ISTįirstly, US bond yields have likely reached their peak, and other countries have also paused their rate hike plans, indicating an elevated probability of the rate hike regime peaking out.The raids were conducted under the Foreign Exchange Management Act and led to the seizure of Assorted Foreign Currencies worth approximately INR 1.50 crore and the recovery of unaccounted Indian Rupees worth INR 1.40 crore. The Directorate of Enforcement (ED) has conducted raids on 14 locations in Kerala as part of an investigation into the network of Hawala operators and illegal Forex Dealers. ED raids multiple locations in Kerala against network of hawala operators Jun 22, 2023, 09:02AM IST.
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