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OpenPayd Launches Access To Quick Foreign Exchange Payments

PYMNTS

OpenPayd , an application programming interface (API)-led Banking-as-a-Service (BaaS) provider, launched InstantFX on Tuesday (Oct. 27), which will help clients access easy foreign exchange payments, according to a press release. This will do away with the need for batch processing.

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Ethiopia Softens Banking Rules To Boost Foreign Exchange Reserves

PYMNTS

Ethiopia has softened its banking rules and opened up the financial space in the country to about five million citizens who have changed to other nationalities, according to a report by Reuters. He wants to boost Ethiopia’s foreign exchange reserve, which has dropped dangerously low.

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ED tapped RBI for more info on FX violations by Paytm Bank users

CFO News

ED sought additional information from the Reserve Bank of India (RBI) on alleged violation of the Foreign Exchange Management Act (Fema) by individuals and companies using Paytm Payments Bank. RBI had informed ED of possible breaches in November 2023.

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Investigation Leads Wells Fargo To Fire Four Foreign Exchange Bankers

PYMNTS

More bad news for Wells Fargo : The financial institution has fired four foreign exchange (Forex) bankers following an investigation into that business by both the bank and regulators. The bank has also been accused of improperly forcing thousands of U.S. million fake accounts were opened without customers’ permission.

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Chinese Foreign Exchange Reserves At 6-Year Low

PYMNTS

China’s foreign exchange reserves have slipped below the $3 trillion mark, as measured in January. The data from the People’s Bank of China stated that the $2.99 The latest tally is the lowest in roughly six years, The Wall Street Journal reports. trillion in reserves was off $12.3

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Forex reserves down by USD 4.531 bn to USD 629.755 bn

CFO News Room

The country’s foreign exchange reserves declined by USD 4.531 billion to stand at USD 629.755 billion in the week ended January 28, RBI data showed on Friday. FCAs tumbled by USD 3.504 billion to USD 566.077 billion, as per weekly data by the Reserve Bank of India (RBI).

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India's forex reserves surge by $6.55 bn to $625.63 bn as of March 1

CFO News

India's foreign exchange reserves have risen by $6.55 billion for the week ending March 1, as per the latest data from the Reserve Bank of India (RBI). billion to reach $625.63 This follows a previous increase of $2.98 billion to $619.07 billion for the week ended February 23, 2024.