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CURRENCY SETTLEMENT ARRANGEMENTS
Yuan or Dollar? Indian businesses explore alternatives as import costs climbIndian businesses, particularly MSMEs, are hesitant to adopt yuan-denominated settlements despite a weakening rupee. They prioritise locali...- NSE IPO: 10 key things investors need to know about India’s largest IPO in historyThe National Stock Exchange of India has filed its DRHP with SEBI for a long-awaited IPO expected to rank among India’s largest public offe...
- Deposits under RBI's latest foreign currency non-resident bank scheme will carry one-year lock-inThe Reserve Bank of India's new FCNR-B scheme offers a one-year lock-in for deposits and mandates non-cancellable swaps for banks. This ini...
- Tokenisation could be the next big upgrade to India's market plumbingTokenisation represents financial assets as digital tokens on programmable blockchains, simplifying ownership and settlement. India's finan...
- Iran seeks interim deal with US to ease economic strain while preserving nuclear leverageIran is pursuing a limited interim agreement with the United States. This move aims to alleviate mounting economic pressure and stabilize t...
- RBI efforts boost rupee usage, yet global adoption remains limitedDespite RBI's efforts to boost rupee usage in international trade, including Special Rupee Vostro Accounts, its adoption for invoicing and ...
- RBI flags US-Iran war's impact on rupee, lists measures to manage forexThe Reserve Bank of India, in its annual report, said the rupee weakened nearly 10% in FY26 due to trade uncertainties, a wider deficit, th...
- India approves Rs 30 billion for Maldives under SAARC currency swapIndia has approved a Rs 30 billion currency swap for the Maldives. This reaffirms New Delhi's role as a key financial partner. The Maldives...
- Bilateral trade settlement in local currencies in textiles, chemicals, metals to aid intra-APAC tradeAsia Pacific economies are urged to boost local currency trade invoicing for goods like textiles and metals, potentially extending to servi...
- FM unveils real-time forex settlement at GIFT CityFinance Minister Nirmala Sitharaman launched a real-time foreign currency settlement system at GIFT City, replacing a delayed process. This...
- Sitharaman launches foreign currency settlement system in GIFT CityFinance Minister Nirmala Sitharaman launched a foreign currency settlement system in GIFT City to facilitate seamless, real-time transactio...
- Banks told to push global trade settlement in RupeeThe government is urging banks to promote settling international trade in Indian rupees, aiming to reduce reliance on the US dollar and low...
- Reserve Bank of India rolls out steps to boost Rupee power overseasRBI now allows banks to open rupee accounts at overseas branches for non-residents to facilitate rupee internationalisation. These accounts...
- RBI allows foreigners to open rupee accounts in major moveThe Reserve Bank of India permits overseas branches of banks to open rupee accounts for non-residents, facilitating transactions and invest...
- Digitalisation will help rupee become global: RBI reportThe Reserve Bank of India (RBI) highlighted in its annual report on Currency and Finance that digitalisation will accelerate the internatio...
- Rupee needs a bit of push to gain currency in cross-border tradeThe report does not in any way reflect the official position of the RBI. Dated October 2022, the report was released on the Reserve Bank of...
- India-Myanmar bilateral trade may rise significantly once rupee trade settlement mechanism is established: EEPCReserve Bank of India has authorised Punjab National Bank of India to open a special Rupee Vostro Account for foreign trade with Myanmar.
- Promoting international trade in rupee to help reduce currency volatility: SurveyThe survey suggested that it could assist Indian exporters in getting advance payments in rupee from overseas clients and in the longer ter...
- Rupee trade with Bangladesh likely as it fights forex crunch, say bankersTwo senior bankers told ET that in the wake of the turbulence faced by Bangladesh they expect a bilateral loan denominated in Indian rupees...
- Bank of India becomes 1st Indian bank to offer trade settlement in Chinese yuanHong Kong is the only offshore market for the Chinese currency. The past year saw $400 billion of Chinese yuan being traded in Hong Kong ag...
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