The Indian rupee fell on Thursday, likely squeezed by demand to hedge future dollar liabilities amid a drop in forward premiums on the back of the central bank's FX swap announcement. The rupee was at 87.

The Indian rupee declined on Friday to a level that bankers said was a key support, pressed by the risk-off mood and the weakness in Asian peers on renewed worries over U.S. tariffs.

RBI said it will conduct OMO purchase auctions of government securities for an aggregate amount of ₹1 trillion in two tranches of ₹50,000 crore each to be held on 12 March and 18 March.

The Reserve Bank of India's three-year dollar-rupee swap is expected to attract significant interest from companies seeking to hedge long-duration dollar liabilities and from lenders looking to raise rupee funds,

The Reserve Bank of India conducted a $10 billion USD/INR swap auction to provide long-term liquidity. The auction, settled on March 4 and 6, was oversubscribed 1.62 times with 244 bids received. A total of 161 bids,

NEW DELHI (Reuters) - Indian startup Mintoak, which provides merchant payment services to lenders, said on Tuesday it has bought Digiledge, marking the first acquisition in the nascent central bank digital currency space in a deal that sources said was worth around $3.5 million.

The case dates back to January 2024, when Union Bank issued a show cause notice to Reliance Communications, saying its loan account would be classified as “fraudulent” as it had allegedly ...

The Reserve Bank on Friday conducted US dollar-rupee swap worth USD 10 billion for injecting long-term liquidity in the system, with the auction eliciting robust demand. The settlement of auction will take place on March 4 and March 6. The USD/INR Buy/Sell swap auction for a tenor of 3 years was oversubscribed 1.62 times.

The digital rupee can coexist with cryptocurrencies if policies differentiate their respective uses—CBDCs for sovereign monetary use and private tokens for innovation-based use.

The latest RBI data showed that India's foreign currency assets (FCA), the largest component of forex reserves, stood at USD 543.350 billion. Gold reserves currently amount to USD 73.272 billion, according to RBI data. Estimates suggest that India's foreign exchange reserves are sufficient to cover approximately 10-11 months of projected imports.

This was the second swap auction by the central bank, after it infused $5 billion via a six-month swap on January 31