India’s foreign exchange reserves declined for the fifth consecutive week, dipping by $2.675 billion to $682.130 billion. This trend may indicate RBI’s market intervention to support the rupee amid currency volatility. Discover how reserve changes impact India’s economy and stability.
The apex bank said that gold reserves increased by USD 893 million to USD 60.997 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 118 million to USD 18.459 billion.
In 2022, India's forex kitty slumped USD 71 billion cumulatively. Gold reserves during the week, however, declined by USD 102 million to USD 474.74 billion.
The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year.
Business news: In October 2021, the country's foreign exchange reserves touched an all-time high of about USD 645 billion. Much of the decline can be attributed to RBI's recent intervention and a rise in the cost of imported goods.
Forex reserves India: The Indian rupee has been weakening over the past few weeks to hit fresh new all-time lows as the US dollar strengthened against major global currencies.
Kay has two more songs in the works before this year ends. A collaboration with Indian social media influencer Manav Chabbra and another Hindi single titled “Mein Jaau Kaha”.
Halting its three-day winning run, the rupee on Wednesday declined by 10 paise to close at 74.59 (provisional) against the US dollar.
According to RBI weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the week ended June 4.
India's forex reserves cross $500 billion markIndia's forex reserves cross $500 billion markAccording to the RBI's weekly statistical supplement, the overall forex reserves increased to $501.703 billion from $493.480 billion reported for the week ended May 29.
Depending on the nature of services, the government gives duty credit scrips or certificates. The scheme offers reward at 5 per cent or 7 per cent of net foreign exchange earned and covers service providers located in India.
At the Interbank Foreign Exchange, the rupee opened on at 69.33 then fell to 69.38 against the US dollar, showing a decline of 4 paise over its previous closing.
In the reporting week, foreign currency assets, a major component of the overall reserves, increased by USD 1.055 billion to USD 376.154 billion, as per RBI data.
A senior DRI official said that during investigation, it was found that she was working with an agent, named Amit Malhotra, a resident of Vivek Vihar area in Delhi.
India's foreign exchange reserves went down by $1.13 billion to $361.99 billion as on May 6, 2016, the Reserve Bank of India (RBI) said.
Chennai: India's foreign exchange reserves increased by $1.52 billion to $363.12 billion as on April 29, 2016, the Reserve Bank of India (RBI) has said. According to the RBI's forex data, the reserves stood at
Mumbai: Buying activity by the country's central bank and the revaluation impact of global currencies swelled India's foreign exchange (Forex) reserves during the week ended January 29, experts said on Saturday.According to the Reserve Bank
Mumbai:India's foreign exchange reserves after rising for two consecutive weeks fell by $1.4 billion (nearly Rs 9,273.6 crore) to $351.106 billion (nearly Rs 23.25 lakh crore) in the week to December 18 on account of
New Delhi: India's foreign exchange reserves increased by $458 million to $353.527 billion in the week to October 16, on account of rise in foreign currency assets, according to RBI data.In the previous week, reserves
Mumbai: The rupee dropped 3 paise at 63.62 against dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.Forex dealers said fresh demand for the dollar from
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