The change matters to firms that earn export revenue but also need foreign currency for imported inputs. Access to the support will hinge on their liquid FX holdings and the value added they generate.
The CFTC has sued Cash FX over an alleged scheme that raised more than $950 million while promising weekly returns of up to 15%. Its complaint details Bitcoin payments, fabricated account statements and at least $406 million in participant losses.
India’s total forex reserves fell to $765.9 billion in the week ended September 18. Foreign currency assets accounted for almost all of the decline, while gold holdings edged higher in dollar terms. Reserves remain above their end-March level.