MAS Brings Malaysia and Thailand Central Banks Into Bloom Digital Money Push
Bank Negara Malaysia and the Bank of Thailand join MAS's Bloom initiative as policymaker members, working on cross-border digital money settlement across SGD, MYR and THB.
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Bank Negara Malaysia and the Bank of Thailand join MAS's Bloom initiative as policymaker members, working on cross-border digital money settlement across SGD, MYR and THB.

India's foreign exchange reserves stood at about $721 billion in the week ended October 16, 2026, according to Reserve Bank of India (RBI) weekly data reported by Chronicle India. The headline total slipped as foreign currency assets fell, even though the value of the country's gold holdings moved higher.

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In a shocking development, India's forex reserves declined $5.011 billion in the week ended October 16 to $721.016 billion. This represented an extension of decline from their September peak, according to the Moneycontrol report. The number shown above is half of a comparison circulating on X. The soft half reprsents the one the figure is compared against: total foreign institutional holdings of Indian stocks ($775 Billion+), notified through an X post with 1,260 followers. The gap arrived after subtracting one from the other is under $55 billion. The post remarked the two figures "dangerously close" and questions India's assertion of having built a massive cash balance to act as exit ramp for foreign capital. Here is what can be checked, what cannot, and where each piece lands in a USD/INR position.

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Higher oil prices matter directly for India because the country is a large importer of crude, which is priced and settled in dollars. That creates steady demand for the US dollar from refiners, and when the rupee is weak, each barrel costs more in local currency. The special window for state-run oil companies is aimed at managing that dollar demand, while the cash-parking requirement effectively raises the cost of certain foreign-exchange positions for banks.

India's crude import bill reached $15.4 billion in September, demonstrating a significant 47% rise in shipments to the country, as the Indian basket averaged $116 per barrel. This report is published on X with the user account being @ayusshsanghi. According to the post, the rupee crumbled to a record low of near ₹97 against the dollar before recovering to range around ₹94.5, a 2.5 rupee round trip in USD/INR that came with an excise duty cut, RBI dollar sales, and a pump-price freeze. However, these numbers are yet to be confirmed by an official news release. These are all user claims. The chain of events it describes is the standard one: a costlier basket lifts the dollar bill, refiners bid for dollars, the currency weakens, the central bank supplies dollars. What needs checking is the size of each step.

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Bank of Uganda told commercial banks it is selling foreign currency to support the shilling, after a 225 basis point rate rise to 12% failed to stop the currency's slide against the US dollar.

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