This decline could lead to a compression in the rate differential between the two countries and reduce the relative appeal of domestic assets for overseas investors. While this drop may lower hedging costs for importers, it reduces incentives for exporters to sell dollars as their returns decline. The dollar-rupee forward premia, which indicates the India-US interest rate differential, has dropped significantly due to a pause in local tightening rates and expectations of further increases by the US Federal Reserve. Dollar-rupee forward premia decline on rate pause, Fed hike hopes Apr 22, 2023, 09:35AM IST.ED searches premises linked to Byju’s over alleged violation of forex rules Apr 29, 2023, 11:42AM ISTįounder Raveendran to be summoned for questioning co says it has provided all info sought by ED.However, there remains a risk of another hike in the second half of the year. The Aussie dollar kept near the middle of its recent trading range with the greenback ahead of the Reserve Bank of Australia's (RBA) policy decision at 0430 GMT, with money markets positioned for a second meeting with no change. Yen sinks to 15-year low vs euro as dovish BOJ contrasts with ECB May 2, 2023, 08:12AM IST.currency against six rivals, eased 0.029% to 101.820 after sliding 0.245% on Tuesday. The dollar index, which measures the U.S. Dollar in defensive mood after jobs data Fed in focus May 3, 2023, 08:22AM IST.Much of the decline can be attributed to RBI's recent intervention and a rise in the cost of imported goods. In October 2021, the country's foreign exchange reserves touched an all-time high of about USD 645 billion.

India's forex reserves rise $4.53 billion to $588.78 billion May 5, 2023, 05:12PM IST.The central bank's gold reserves declined by $494 million to $45.6 billion last week.

The rise in the reserves last week was driven by an increase in the RBI's foreign currency assets, which rose $5 billion to $519.4 billion, latest data showed.

Forex reserves surge to 10-month high of $588.7 billion May 6, 2023, 07:46AM IST.

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