![]() To convert FOREIGN CURRENCY INTO Australian Dollars DIVIDE by the selected rate. To convert AUSTRALIAN DOLLARS INTO foreign Currency MULTIPLY by the selected rate. ![]() The newly-permitted transactions will be cash-settled in rupees and shall have the flexibility of cash settlement between two relevant banks and between a bank and a person residing outside India in rupees or any foreign currency, the regulator said.N/A = Not Available (Bankwest doesn't trade this) ![]() Banks to offer non-deliverable forex derivatives to residents Jun 7, 2023, 05:53AM IST.Owning a few asset classes like equity, fixed income mutual funds, gold/silver, and real estate/REIT offers adequate diversification. The allocation of these asset classes should depend on an investor's goals, time horizon, and risk appetite. Mutual funds offer different funds, providing an easy way to get exposure to many of these asset classes. Equity, bonds, precious metals, commodities, real estate, currency, and alternatives are the seven asset classes that can help diversify portfolios. While immense wealth can be created through concentration, it is not a rule and diversifying investments is the best way to protect and grow money. Weighing the odds: Wealth-creation through concentration or diversification? Jun 7, 2023, 01:23PM IST.The rising share of gold in reserves is likely part of RBI's diversification strategy to reduce risk from geopolitical risks and the COVID-19 pandemic. The RBI's continuous purchase underscores gold's prominence in international reserve portfolios amid market volatility and heightened risk. India's gold reserves have surged by over 40% since the country resumed purchasing the precious metal over five years ago. RBI's gold reserve up over 40% in five years Jun 7, 2023, 06:47PM IST.RuPay Debit and Credit cards issued by banks in India have gained international acceptance through bilateral arrangements with international partners and co-badging arrangements with international card schemes. RuPay forex cards to be issued soon can be used at overseas ATMs, PoS machines, online merchants Jun 8, 2023, 10:55AM IST.In recent months, there have been a number of instances of forex scams when con artists entice the public with the promise of substantial returns on investments in a short amount of time. RBI issues fresh list of unauthorised forex trading platforms How to check authorised list Jun 8, 2023, 12:46PM IST.Meanwhile, Brent crude futures rose 0.38% to $76.25 per barrel, while the dollar index rose 0.19% to 103.54. The RBI left interest rates unchanged at 6.5% on Thursday, while foreign institutional investors were buyers in capital markets, purchasing shares worth Rs 212.40 crore, according to exchange data. The rupee opened at 82.49 and hit a low of 82.50 through the day. The rupee gained 4 paise to close at 82.47 against the dollar amid foreign fund inflows, though a strong dollar and weak domestic equities limited gains. Rupee rises 4 paise to close at 82.47 against US dollar Jun 9, 2023, 03:55PM IST.India's foreign currency assets, the biggest component of the forex reserves, rose by $5.270 billion to $526.201 billion. Snapping a two-week falling streak, India's foreign exchange reserves saw a rise of $5.929 billion and stood at $595.067 billion as on June 2, 2023, as per Reserve Bank of India data. India's forex reserves up $5.9 billion to $595.1 billion as on June 2 Jun 9, 2023, 05:18PM IST.
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