The FinTech Hub
Source: Live Mint The National Payments Corporation of India (NPCI) has been expanding UPI’s global footprint since its first international collaboration with Singapore in 2020. Countries that now accept UPI payments include Singapore, the United Arab Emirates, Sri Lanka, Mauritius, Bhutan, Nepal and France. Arun Panicker, a 56-year-old traveler from India, recently experienced this firsthand…
Source: Live Mint (Bloomberg) — The Swiss National Bank continued to refrain from significantly influencing the franc in the third quarter, even as the currency saw a rally triggered by geopolitical turmoil. Switzerland’s central bank bought foreign exchange worth 728 million francs ($806 million) from July to September after even smaller purchases in the previous…
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…
