The three-year tenure of Raghuram Rajan saw the RBI adding a net of $92 billion to the kitty.
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RBI's forex swap window for oil marketing companies addresses an urgent issue but what happens when the dollars have to be returned?
The reserves had touched a life-time high of $426.028 billion in the week to April 13, 2018.
The country's reserve position with the International Monetary Fund also increased by $ 3.6 million to $ 3.344 billion.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade.
After a technology upgrade, the Multi Commodity Exchange of India (MCX) appears poised for an improvement in volumes. The premier commodity and forex exchange reported a loss of Rs 19.1 crore in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24). This was attributed to higher software charges payable under an extended service agreement with 63 moons technologies and a one-off cost towards core guaranteed funds (CGF).
China keeps most of its foreign reserves in the United States Government securities.
The country's foreign exchange reserves decreased by $3.27 billion to $600.42 billion in the week ended April 22, RBI data showed. In the previous week, the reserves had declined by $311 million to $603.69 billion. During the reporting week, the fall in the reserves was on the account of a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, and gold reserves, Reserve Bank of India's (RBI) weekly data released on Friday showed.
Impacted by the revaluation of international currencies, India's foreign exchange reserves fell by $135 million for the week ending June 11, 2005.
The medium-term scenario for oil marketing companies (OMCs) is high risk due to the surging crude and gas prices. Apart from OPEC-plus cutting production, the Hamas-Israel conflict has caused fears of supply disruption. The July-September quarter of 2023-24 (Q2FY24) saw positive surprises for OMCs. Strong gross refining margins (GRMs) more than offset weak marketing margins.
After registering a decline for the last two weeks, India's forex reserves increased by $1.04 billion for the week ended June 17, 2005.
The country's forex reserves inched higher to $292.24 billion as of January 24, from $292.08 billion in the earlier week.
Technical analysis can help you understand market trends so that you can make informed investment decisions, says Rupak De, senior technical analyst at LKP Securities.
The country's foreign exchange reserves continued to surge ahead and for the third week in a row crossed the $1.5 billion mark.
The comments assume importance as the traditional position of the central bank has been not to set a forex reserves target.
Lower international interest rates during June-July 2002-03 led to a sharp fall in returns on India's foreign currency assets to 2.8 per cent compared to 4.1 per cent during FY02 while that on gold reserves it fell to 0.6 per cent from 0.9 per cent.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
The manipulation is suspected to have spread across the world.
The banking system's liquidity slipped into deficit for the first time in the current financial year (2023-24) due to the imposition of the Incremental Cash Reserve Ratio (I-CRR) for banks and outflows from goods and services tax (GST) payments, according to dealers. Reserve Bank of India (RBI) data shows it injected Rs 23,644 crore on August 21. The last time liquidity was in deficit was on March 27, when the RBI injected Rs 45,575 crore.
The country's foreign exchange reserves declined $9.65 billion to $622.27 billion in the week ended March 11, according to the latest data from the RBI. In the previous week ended March 4, the reserves rose $394 million to $631.92 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
The gold reserves were unchanged at $26.61 billion, the apex bank said.
The Reserve Bank of India (RBI) has liberalised the procedure for facilitating the import of rough diamonds (termed roughs in the trade).
The government is planning to utilize $5 billion worth of foreign exchange reserves for infrastructure development this fiscal.
The country's foreign exchange reserves increased by $394 million to $631.92 billion in the week ended March 4, the RBI data showed. In the previous week ended February 25, the reserves had declined by $1.425 billion to $631.527 billion. It touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
The partially revised figures for FY'08 stood close to $3 billion at $2,827 million while, the two fiscal years FY'06 and FY'07 saw an outflow of $1.1 billion each and the same was $642 million in fiscal 2004-05.
The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed.
'She delivers on promises, especially on security issues which is a core concern for India.'
The gold reserves remained unchanged at $28.041 billion, the apex bank said.
The rupee has depreciated 9.7 per cent against the US dollar over a year and with the RBI stemming the rupee's weakness through dollar sales, its reserves have dropped to their lowest levels since October, 2020. The fall in reserves has widespread implications.
Amazon on Wednesday filed a writ petition in the Delhi high court seeking clarifications on the scope of Enforcement Directorate's (ED) investigations into alleged foreign exchange violations by the company, according to sources. Last month, Amazon had said it was in receipt of summons by the ED in connection with its deal with the Future Group. According to sources, Amazon in its filing said the ED is expanding the scope of its investigations by seeking privileged and confidential legal advice it received in ordinary course of business since it started marketplace operations and that such requests aren't related to the agency's probe into the Future-Amazon deal.
The country's foreign exchange reserves vaulted beyond $140 billion mark as inflows into the kitty swelled by $2.87 billion for the week ended March 11 due to heavy intervention in the market by Reserve Bank of India.
Exports dipped 1.6 per cent to 8.95 trillion yuan.
India's foreign exchange reserves increased by $319 million to cross record levels of $110 billion for the week ended March 26, 2004.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
The rupee ended at 59.18 compared with previous close of 59.33 to the dollar.
The rise in India's foreign exchange reserves continued with further fresh inflows and export remittances of $595 millon pushing the forex reserves past the $71 billion mark during the week ended January 10.
The country's reserves surged by $1.432 billion to $316.311 billion in the week to November 28 due to rise in foreign currency assets, RBI data showed on Friday.
Experts (forex consultants and CFOs) estimate the notional losses on derivative products in Ludhiana to be Rs 200 crore to Rs 300 crore (Rs 3 billion), with a prominent textile player leading the table. But no company is willing to talk about their exposure or losses. A few companies, such as Vardhman Textiles, part of the S P Oswal Group, said they had no exposure.
The foreign exchange reserves rose by a robust $1.637 billion to touch $296.63 billion during the week ended December 14 on the back of healthy addition of core currency assets, the Reserve Bank said.
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