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Indian Rupee Declines for First Time in Eight Sessions as Brent Oil Rises Above $112

On Thursday, the Indian rupee declined for the first time in eight trading sessions. This occurred even amid foreign portfolio investment inflows for the Jio Platforms IPO. Brent oil prices climbed to over $112 per barrel, contributing to the rupee's fall. Currency traders predict the rupee will…

India News

FCNR(B) Deposits Drive India's Forex Reserves to Record $729.33 Billion

Indicates greater ability of RBI to defend the rupeeTHE RBI’s concessional swap window for Foreign Currency Non-Resident (Bank) deposits has helped propel India’s foreign exchange reserves to a record high of $729.33 billion as on August 21. The FCNR (B) window has been operational since June…