When the rupee falls against the US dollar, the Reserve Bank of India (RBI) ‘s first instinct is to protect the currency. The RBI took potential measures to safeguard the rupee by selling millions of US dollars in the currency markets. The central bank’s intervention helped slow the downfall but failed to lift the currency…
The US dollar is soaring in the currency markets and is strengthening in the charts in November. The DXY index, which measures the performance of the USD, shows that the currency has climbed above the 105 mark. The USD hit a high of 105.06 and spiked 0.006% in the indices. The Indian rupee hit a…
The Indian rupee (INR) dominates the currency markets this week, outperforming the US dollar (USD) by a wider margin. This significant change comes at a time when forex traders remained cautious before going long on the USD. Traders avoided taking entry positions in the currency markets on the heels of the Federal Reserve meeting. Also…
Indian crypto exchange Wazirx has accelerated Phase 2 of INR withdrawals after a cyberattack on July 18. Initially scheduled for Sept. 9, eligible users can now withdraw up to 66% of their INR balances. However, crypto trading on the platform will not resume for another six months. Wazirx Expedites INR Withdrawals Amid Post-Hack Restructuring Efforts…
August 26, 2024 at 09:10 PM GST updated: August 26, 2024 at 08:31 PM 2 mins read News WazirX launches Phase 1 of INR withdrawals, allowing users to access up to 66% of their balances with reduced fees. CEO Nischal Shetty assures expedited efforts for Phase 2 of INR withdrawals, while legal avenues are pursued…
Indian crypto exchange Wazirx has initiated the first phase of INR withdrawals, permitting eligible users to withdraw up to 33% of their INR balances. Co-founder Nischal Shetty noted that the timeline for the second phase remains uncertain due to several internal factors that need to be addressed. Wazirx Launches Phase 1 of INR Withdrawals Indian…
Indian crypto exchange Wazirx has announced that INR withdrawals will resume in phases starting on Aug. 26, following a cyberattack that disrupted services. To manage crypto balances, Wazirx plans to implement a Singapore Scheme of Arrangement to facilitate the distribution of crypto assets. INR withdrawals will occur in two stages, allowing users to access up…