India's foreign exchange reserves have jumped to an all-time high of $651.5 billion as of May 31, Reserve Bank Governor Shaktikanta Das said on Friday. This means the overall kitty has increased by $4.83 billion since the last reported number of $646.673 billion on May 24 this year.
Reserve Bank Governor Shaktikanta Das on Friday said 67 per cent of the decline in the foreign exchange reserves since April was due to valuation changes arising from strengthening US dollar and higher American bond yields. The forex reserves, which stood at $606.475 billion as on April 2, have declined to $537.5 billion as on September 23. It was also the eighth straight week when the reserves declined.
The country's net international investment position declined by 6.45 per cent to $49.12 billion in June this year compared with $52.51 billion on March 31, 2008, indicating net claims of non-residents on India.
India's current account surplus moderated to $15.5 billion or 2.4 per cent of the GDP in the July-September quarter of the current fiscal, the RBI said on Wednesday. The same was at $19.2 billion or 3.8 per cent of the GDP in the preceding three-month period on account of a rise in the merchandise trade deficit, the RBI said in a statement on 'Developments in India's Balance of Payments during the Second Quarter (July-September) of 2020-21'. It is for the third consecutive quarter that India's current account remained in surplus. In the last quarter of 2019-20, the surplus was $0.6 billion. Current account deficit/surplus reflects the difference between the outflow and inflow of foreign exchange in a country's current account.
India's overseas investment has increased to $109.1 billion during July-September quarter, 2011.
The net claims of non-residents on the country, as reflected in the net Index of Industrial Production, decreased by $12.8 billion to $296.2 billion on the back of a $10.6-billion fall in the value of foreign-owned assets for the quarter ended September, the Reserve Bank said on Tuesday.
Growth in India's gross domestic product for the June quarter of 2013-14, as well as for the entire 2014-15, was 4.7%.
Privatisation or consolidation into half a dozen large banks might not rescue public sector banks from the crisis they find themselves in.
Brexit will likely put brakes on the UK's growth prospects.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances