Gate News message, April 24 — India's central bank is piloting digital rupee (e-rupee) payments across approximately 10 initiatives to distribute roughly $80 billion in welfare subsidies, aiming to reduce leakage and corruption while identifying practical use cases for its CBDC. In Maharashtra,

Gate News: According to the latest Gate TradFi data, USDINR (US Dollar vs Indian Rupee) has dropped by 1% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News: According to the latest Gate TradFi data, USDINR (US Dollar vs Indian Rupee) has surged by 2% in a short period. Current volatility is significantly higher than recent averages, indicating increased market

Gate News message: According to the official announcement, the Gate TradFi Stock Trading Zone has launched 15 stock CFD pairs for Tencent, Meituan, Xiaomi, Kuaishou, AIA Insurance, Geely Automobile, Zhipu, MINIMAX, Xunce, Lenovo, Kangfang Bio, CITIC Shares, Rongchuang China, China Biopharmaceutical, Anta Sports, all of which support 4x fixed leverage, with a minimum order quantity of 0.1. In addition, the Gate TradFi FX Trading Zone has launched 6 foreign-exchange CFD pairs: EUR/Hungarian Forint, USD/Hungarian Forint, USD/Indonesian Rupiah, USD/Indian Rupee, USD/Thai Baht, and USD/New Taiwan Dollar. All pairs support 20x fixed leverage, with a minimum order quantity of 0.01.

India is exploring the cross-border use of the digital rupee (e-rupee) to reduce payment costs and improve trade efficiency, thereby expanding the rupee's global influence. The currency can enable direct settlement without intermediaries and is planned to be linked with other countries' central bank digital currencies.

The Deputy Governor of the Reserve Bank of India stated that India will not adopt the US "GENIUS Act" or the G7 stablecoin regulatory framework, believing that dollar-pegged stablecoins threaten monetary sovereignty, and emphasized that the country will continue to advance the Central Bank Digital Currency (CBDC) e-Rupee project.

Singapore Exchange President Michael Sin stated that cryptocurrency perpetual futures have been popular since their launch, representing new liquidity rather than cash transfers. He emphasized that the goal is to establish BTC/ETH contracts as the benchmark contracts for the Asian trading session.

According to ChainCatcher news and a report from CoinDesk, India plans to launch a stable digital asset ARC pegged 1:1 with the rupee in the first quarter of 2026, developed jointly by Polygon and local fintech company Anq. ARC will operate on the basis of the Central Bank Digital Currency (CBDC) and adopt a dual-layer structure, issuing only to corporate accounts, aimed at curbing capital flow towards dollar stablecoins and supporting domestic debt needs. This mechanism combines Uniswap v4 Allowlist control, reinforcing Compliance and ensuring monetary sovereignty.

India's Asset Reserve Certificate (ARC) is expected to be launched in the first quarter of 2026. The ARC Token is pegged to the Indian Rupee at a 1:1 ratio, and cash or cash equivalents must be in place at the time of issuance to ensure transparency and compliance, aiming to strengthen liquidity in the Indian economy and drive demand for public debt instruments.

Jin10 data, November 4th: After the Indian Central Bank's suspected market intervention, the Indian rupee rebounded sharply on Tuesday, moving away from levels close to its historical lows. The Indian rupee rose by as much as 0.4% against the US dollar to 88.3925, marking the largest single-day increase since October 15. According to traders, the Indian Central Bank sold dollars in the offshore forex market before the onshore market opened at 9 a.m. local time to support the exchange rate. On Monday, the rupee depreciated to as low as 88.80, just a step away from the historical low of 88.8050 set in September.