India
14 articles
Yen Holds Near 160 as Rate Hike Debate Intensifies in Asia
The Japanese yen remains close to 160 per US dollar as policymakers weigh further Bank of Japan rate hikes, while renewed geopolitical tensions and shifting US interest rate expectations add to currency market uncertainty
Australian Dollar Climbs to Three-Month High on Inflation Pressure
The Australian dollar is set for its longest weekly winning streak since 2021, as persistent inflation and expectations of further Reserve Bank of Australia rate hikes drive the currency higher against its global peers
Rupee Outlook: MUFG Sees USD/INR Near 94 as RBI Reserves Grow
Analysts expect the Indian rupee to approach 94 against the US dollar in the coming months, supported by strong Reserve Bank of India inflows, before renewed oil and yield pressures could push the rate higher again
Navi Raises $100 Million from Prosus Ahead of Planned India IPO
Navi, the digital payments and lending platform led by Flipkart co-founder Sachin Bansal, has secured a $100 million investment from Prosus as it prepares for a potential stock market listing in India
Reserve Bank of India Returns to Net Dollar Purchases in June
After two months of net foreign currency sales, the Reserve Bank of India shifted course in June, buying $561 million as the rupee stabilized and capital inflows surged following new policy measures
Rupee Faces Oil Pressure as RBI Intervention Caps USD/INR Rise
Analysts expect the Reserve Bank of India to limit rupee losses against the US dollar in the coming quarters, but high oil prices and global risks could test the central bank's ability to maintain stability
US Dollar Slides to Three-Month Low as Treasury Buybacks Expand
The US dollar weakened sharply after the Treasury Department increased buybacks of long-term bonds, easing pressure on yields and shifting currency dynamics across Asia and beyond
FCA Appoints Attachés in India and UAE to Boost UK Financial Links
The UK's Financial Conduct Authority has named new attachés in Mumbai and Abu Dhabi, aiming to deepen regulatory cooperation and attract investment into the UK's financial sector from Asia and the Middle East
Bank of America Invests $1.9bn in India's Jio Credit Joint Venture
Bank of America will acquire up to 49.9% of Jio Credit, the digital lending arm of Jio Financial Services, in a deal valued at $1.9 billion, aiming to expand digital lending in India and reshape the country's financial services landscape
Revolut Gains French Banking Licence as Bunq Faces US Setback
Major developments in global banking this week include Revolut's full French licence, Bunq's US charter rejection, Bank of America's $1.9bn move into India, and a $1.44bn sale of Moneris in Canada, with executive changes at NAB also in focus
Pound Sterling Holds Near 1.35 as UK Growth Data Fails to Convince
Sterling remains close to 1.35 against the US dollar after UK GDP growth outpaces expectations, but uneven gains and cautious market sentiment highlight ongoing risks from inflation, energy prices, and global economic uncertainty
India Ends Discounted Currency Swap Early After $50 Billion Inflow
The Reserve Bank of India is closing its zero-cost swap facility for banks a month ahead of schedule, following a surge in foreign currency deposits and inflows that exceeded $50 billion since June
BRICS Weigh Cross-Border Payment Links and Digital Currency Integration
BRICS countries are considering ways to connect their fast payment systems and central bank digital currencies, aiming to lower cross-border transaction costs and improve efficiency for businesses and consumers
SIDBI Expands Invoice Validation With MonetaGo Secure Financing
India's Small Industries Development Bank has rolled out MonetaGo's Secure Financing system across its GST-Sahay platform, aiming to reduce invoice fraud and improve credit access for micro, small, and medium-sized businesses