Apex exporters' body Federation of Indian Export Organisations (FIEO) said as per existing FEMA provisions, the final settlement has to be in free foreign exchange except for Nepal and Bhutan.
Forex traders said crude oil prices surged after US President Donald Trump ordered the killing of Iran Revolutionary Guards commander Qasem Soleimani.
A day after the the Reserve Bank of India kept key policy rate unchanged, the Indian rupee opened at 71.30 against the US dollar on Friday. On Thursday, the rupee had settled for the day at 71.29 against the US dollar.
Mumbai: Newly-designed currency notes are likely to circulate in the country soon with the Reserve Bank of India board today recommending a new set of designs for the banknotes. "The Central Board also discussed
Mumbai: Continuing its downward march for the seventh straight session, the rupee today plummeted by 32 paise to close at 65.10 against the dollar, hitting its weakest level last seen in September 2013, as China
Bhubaneswar, July 3: Heavy equipment worth crores of rupees is lying abandoned in an underground mine of Coal India Limited (CIL) in Odisha that was permanently shut down last week over safety concerns, an official
Pilibhit, UP, Feb 23: Several crores of rupees worth fruits and vegetables, including potato, onion, etc. went up in flames on Wednesday night in a devastating fire that gutted 40 shops built inside a 60-metre
New Delhi, Feb 7: Iran has agreed upon three Indian banks to accept 45 per cent of payment for its crude imports in rupees with both countries formulating mechanisms to avoid any problems in the
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