News
Dangote Refinery ramps up fuel exports as crude shortages, forex squeeze bite
By UdemeAkpan, Energy Editor The Dangote Petroleum Refinery has significantly increased exports of refined petroleum products as inadequate domestic crude oil supply and persistent foreign exchange…
Rupee falls 11 paise to 96.36 against US dollar in early trade
Rupee declines 11 paise to 96.36 against the dollar amid rising crude prices and increased demand for safe-haven assets.
Rupee rebound bets vanish as soaring crude blunts inflows
What makes the Indian currency more vulnerable than some of its Asian peers is the country’s reliance on imported energy and its ripple effect on…
India’s scheme to attract dollar deposits from abroad is fine—but pardon local rupee savers their envy
With inflows of over $17 billion already, India’s deposit scheme for overseas Indians is drawing foreign exchange through leveraged packages offered by banks. Savers at…
Japan ready to take decisive action on forex if needed, finance minister says
TOKYO, July 22 : Japanese Finance Minister Satsuki Katayama said on Wednesday that the government remains ready to take decisive action in currency markets if…
Rupee rallies 21 paise to 96.24 against US dollar on lower oil prices and forex inflows
The rupee strengthened by twenty-one paise, closing at ninety-six point twenty-four on Tuesday. Lower oil prices reduced demand for the US dollar, supporting the local…