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Source: Live Mint If you carry a credit card from India while travelling abroad and use it at a merchant overseas, you should remember that you will be charged a conversion mark-up fee. This mark fee typically varies between 1.5 to 3.5 percent of the converted Indian currency. Over and above of this conversion mark…
Source: Live Mint A more economical option is a prepaid forex card, which allows you to carry foreign currency in the form of plastic in place of cash. A forex card is cheaper because the markup charged on currency conversion is lower compared to what banks apply to debit cards when they are swiped outside…
Source: Live Mint If you are a frequent traveller and often make payments in a foreign currency, then it is likely that you already hold a travel credit card. A travel card can help you make payment in foreign currency seamlessly while you are travelling overseas. However, banks typically charge a forex markup fee which…
Source: Live Mint If you regularly invest in foreign exchange (forex), then make sure you do so through genuine and authorised trading platforms. There could be a scenario wherein a fake trading platform entices you into investing in foreign currency pairs. The Reserve Bank of India (RBI) recently updated its Alert list to warn investors…
Source: Business Standard India’s forex reserves have ballooned by $87.6 billion so far in 2024, already more than the near-$62 billion increase over the whole of last year. 2 min read Last Updated : Oct 04 2024 | 5:35 PM IST India’s foreign exchange reserves crossed $700 billion for the first time on record,…
Source: Business Standard 1 min read Last Updated : Sep 20 2024 | 11:56 AM IST India’s foreign exchange reserves expanded by $66 billion in 2024, marking an all-time high of $689 billion. This follows an increase of $60 billion in 2023, after a decline of $71 billion in 2022. Among the top five…
Source: Business Standard 2 min read Last Updated : Sep 13 2024 | 4:50 PM IST The Indian rupee strengthened on Friday as Asian currencies benefited from the weakness in the U.S. dollar as the odds of a outsized Federal Reserve rate cut next week rose after media reports said the decision is likely…
