The Reserve Bank of India (RBI) issued the Foreign Exchange Management (Authorised Persons) Regulations, 2026, on Wednesday in Mumbai, marking a significant shift in how currency exchange and remittance services are authorized and managed across the country. By rationalizing the renewal framework and expanding the principal-agent model, the central bank aims to increase the accessibility…
Former Deputy Governor of the Reserve Bank of India (RBI), Michael Patra, has urged the central bank to actively leverage the US Federal Reserve’s Foreign and International Monetary Authorities (FIMA) repo facility to stabilize the Indian rupee against ongoing global market volatility. This recommendation comes as the rupee faces persistent downward pressure amid shifting geopolitical…
Record Intervention to Stabilize the Rupee The Reserve Bank of India (RBI) expanded its short dollar positions in the foreign exchange forward market to a record $104 billion as of March, according to data released this Thursday. This aggressive intervention follows mounting pressure on the Indian rupee, which has faced significant volatility due to the…
