forex

A 26-year-old alleged cybercriminal, Brajesh Singh, was arrested by CID in Uttar Pradesh for a Rs 8.52 crore forex trading fraud. He lured victims with promises of high profits, persuading them to invest in various bank accounts. The arrest followed a case registered by a defrauded victim on March 10.

India's foreign exchange reserves experienced a significant drop of $7.794 billion, reaching $690.693 billion in the week ending May 1. This decline, primarily driven by a fall in foreign currency assets and gold reserves, follows a previous decrease. The central bank's intervention in the forex market to support the rupee is a key factor behind this trend.

State Bank of India saw a 5.8% profit jump to Rs 19,684 crore in Q4FY26, though margins tightened. Bank of Baroda achieved a record Rs 5,616 crore profit, while Bank of India's net profit climbed 18.7%. Despite credit growth, SBI's share dipped due to investor concerns about core income.

The Indian rupee opened sharply lower against the US dollar, falling 36 paise to 94.58 due to rising Middle East tensions. This marked a reversal from Thursday's gains, as US President Trump warned Iran of stronger military action.

Cabinet also clears Rs 29,540 cr for infra, health, schemes

Government sources indicate no immediate plans to hike gold and silver import duties, despite calls to curb non-essential gold purchases. Meanwhile, India anticipates US trade talks addressing pending issues, including a Section 301 probe, though a comprehensive deal remains distant. India has contested US allegations of structural overcapacity, urging the termination of the investigation.

Foreign funds net sell 8.4K crore stocks; investors poorer by 6 lakh crore

The Indian Rupee hit a record low of 95.63 against the US dollar amid escalating geopolitical tensions and fragile investor sentiment. Intensifying Middle East conflict, rising oil prices, and sustained foreign fund outflows are pressuring the currency. This economic uncertainty is also reflected in a significant dip in domestic stock markets.

Prime Minister Narendra Modi urged collective national efforts to reduce import dependence and strengthen India's global supply chain position. Amidst global uncertainty and Middle East conflict concerns, he appealed to citizens to minimize foreign currency spending and support domestic manufacturing. Modi drew parallels to past national crises, emphasizing historical citizen unity in response to government appeals.

The Indian rupee hit a historic low against the US dollar, pressured by corporate demand and soaring crude oil prices. Authorities are considering measures like incentivizing foreign currency deposits and easing tax rules for overseas investors to boost dollar inflows.

Corporate India is embracing Prime Minister Modi's call for work-from-home and reduced travel. Major companies like KPMG, Deloitte, and Tata Motors are reviewing policies, with many already operating hybrid models. Businesses are prioritizing virtual meetings and restricting non-essential trips to conserve foreign exchange and ensure continuity amidst global uncertainties.

Fuel, gold, edible oil, foreign travel, and fertilisers — how much do they cost India, and how much do they matter right now?

Social Media Post Flagging ‘Chai Paani’ Demands Leads To Departmental Action

Gold and silver price prediction today: Gold and silver prices may continue to rise, with both precious metals exhibiting a bullish bias, says Abhilash Koikkara, Head - forex & Commodities, Nuvama Professional Clients Group.

Prime Minister Modi urged Indians to halt gold purchases for a year to protect foreign exchange reserves, a call supported by GTRI which highlighted a surge in gold imports straining the trade balance. Union Minister Ashwini Vaishnaw echoed the appeal, emphasizing reduced import spending amid Middle East conflict, leading to a sell-off in jewellery stocks.

The rupee hit a record low of 95.33 against the dollar on Thursday, driven by surging crude oil prices and concerns over inflation and capital flows. Suspected RBI intervention helped the currency recover to close at 94.91, though it remains under pressure. The outlook for the rupee is closely tied to the trajectory of global oil prices.

RBI is not alone in repatriating its gold reserves. Several central banks like France’s Banque de France, Germany’s Deutsche Bundesbank, Serbia’s National Bank have done the same - buy why?

The Indian rupee is facing significant pressure, weakening against the US dollar due to soaring crude oil prices driven by Middle East geopolitical tensions and persistent foreign fund outflows. Despite India's robust economic growth, the currency's slide continues as the Reserve Bank of India intervenes to curb volatility rather than target a specific exchange rate.

India's central bank significantly boosted its gold reserves, bringing back 104 metric tonnes domestically between October 2025 and March 2026. This move, amid global geopolitical tensions and a decline in foreign currency assets, saw gold's share in forex reserves rise to 16.7%. Globally, central banks are increasingly repatriating gold, reflecting a growing trend towards bolstering national sovereignty.

The Indian rupee hit a record low of 95.20 against the US dollar today. Rising global crude oil prices and a stronger US dollar are pressuring the currency. Concerns over West Asia also impact investor sentiment. Foreign investors continue to sell Indian equities. The domestic stock market also saw a decline.

Gold and silver price prediction today: Gold and silver are exhibiting a slightly bearish bias, according to Abhilash Koikkara, Head - forex & Commodities, Nuvama Professional Clients Group.