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The Economic Times

Business / The Economic Times

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In hawala universe, it's a partial eclipse of dollar

The Indian money market's hawala sector is experiencing an unusual discount on the dollar-rupee exchange rate, a shift attributed to stalled flights and reduced trade with the Gulf. This irregular market, typically seeing a dollar premium, is now operating 1-2% below official rates, impacting informal remittance channels.

28 Mar 2026 5:30 am