Rupee Drops to 2 year low against dollar

• Author: Lalitha
• Filed under: Forex
• Date: Sep 16,2008

Rupee Drops to 2 year low against dollar , Reserve bank and state ban is doing all it best by selling dollar so it can get higher against dollar , but rupee was at 46.54/55 per dollar which was like more than a percent from yesterdays close, when it opened It dropped to 46.5775 which was like the lowest since August 25 th 2006.
Track the Rupee to dollar rate here

Currency futures trading to be opened up for Public – RBI

• Author: Ganapathy
• Filed under: Forex
• Date: Nov 17,2007

So RBI has put up for comments from public on opening up currency futures for Public.
First What is Currency Futures ?
It is where a Buyer and a Seller agrees to Buy and Sell the currency at a future date for a certain price.So indian public may soon be allowed by the RBI to participate in Exhcnage traded currency futures , its also told that the main control will be in RBI hand for a change from SEBI’s hand.

ECB curbs makes the Market happy – How will this affect rupee

• Author: Ganapathy
• Filed under: Forex, Reserve Bank of India
• Date: Aug 8,2007

Raising Rupee value is really concern for exporters and IT company and also for the government, In order to slow down everything Reserve bank fo india has announced some restrictions on the External commercial Borrowings also called as ECB’s .To put it in plain words you can raise money from outside for your company and that is now restricted to 20 million dollars anything more than that should be only spent outside the company which means they have ti get RBI approval for the allowed 20 million dollars and nothing more than that .
To sum it up what it will do is this will reduce the flow of dollars into the country.This move comes after India has seen unprecedented dollar inflows through ECBs. In the period from April-July, India has received ECBs to the tune of USD 9 billion.analyst are saying that it will reduce dollar incoming to the tune of 10 to 15 billion dollars in a year.
How this will help Exporters and IT company
This will raise the reduce the rupee rate against dollar which means good news for It company and Exporters.As you can see this has reflected in todays market itself.