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Foreign exchange

News Reports

As Bloomberg retracts its report claiming RBI sold gold worth $12 billion, read how its economist used different pricing data to arrive at the...

Dhruv Mishra -
Bloomberg has retracted the article claiming that RBI sold gold worth $12 billion, because they used domestic price, while RBI uses London Bullion Market Association price.
Economy and Finance

PM Modi calls for year-long “Civic Satyagraha” to shield India from global uncertainty, urges to save foreign exchange by reducing fuel use, gold purchase,...

OpIndia Staff -
Prime Minister Narendra Modi today appealed to the nation to embrace a year-long "civic Satyagraha" for economic self-reliance amid global turmoil triggered by the...
Economy and Finance

India’s foreign exchange reserves touch fresh highs at USD 655.8 billion

ANI -
India's forex reserves are now sufficient to cover around 11 months of projected imports, according to a recent RBI report.
News Reports

India’s foreign exchange reserves hit a fresh all-time high of USD 642.63 billion

ANI -
India's foreign exchange reserves rose for the fifth straight week to hit a fresh all-time high of USD 642.631 billion in the week ending on March 22.
News Reports

ED summons TMC leader Mahua Moitra in FEMA violation case, asks her to appear on 19 February

ANI -
ED wants to question Moitra in the case under the provisions of Foreign Exchange Management Act (FEMA), 1999.
News Reports

Ethanol blending saved ₹24,300 crore foreign exchange in 2022-23, 20% blended petrol will be available in the entire country by 2025: Hardeep Singh Puri

ANI -
Blending of ethanol into petrol has resulted in savings of over Rs 24,300 crore of foreign exchange in the supply year 2022-23, said Union Petroleum Minister Hardeep Puri on Wednesday.
News Reports

India saved at least USD 7 billion in foreign exchange in 14 months by importing discounted Russian crude oil

OpIndia Staff -
Indiam refiners saved over USD 7 billion in foreign exchange by increasing crude oil imports from Russia
News Reports

Case filed against BBC India by ED under FEMA for violating foreign exchange laws

OpIndia Staff -
The case by ED comes after February 2023 Income Tax Department survey in BBC offices in India.
News Reports

Bangladesh cancels Bollywood actor Nora Fatehi’s performance in Dhaka: Read why

OpIndia Staff -
Bangladesh has cancelled Nora Fatehi performance in Dhaka as a part of broader austerity drive to ‘save dollars’.
Fact-Check

Far-left and Congress trolls display ignorance while targeting PM Modi, misinterpret data to claim Rupee weakening against Bangladeshi Taka

OpIndia Staff -
As the value of 1 Rupee is equal to 1.16 Bangladeshi Taka, trolls assumed Rupee is weak against Taka and targeted PM Modi
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