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Forex

US$500bil war chest or not, RBI won’t let rupee climb

MUMBAI: India’s foreign-exchange reserves are at a record and approaching the US$500bil mark, and yet, the rupee is Asia’s worst performer over the past three months.

World

Australia slashes costs of COVID-19 job subsidy to $46 billion

SYDNEY (Reuters) - Australia on Friday halved the number of people expected to be covered by its coronavirus wage subsidy scheme due to reporting errors and after swiftly controlling the outbreak, a revision that will save the government around A$60 billion ($39 billion).