Medical tourism is likely to be the next major foreign exchange earner for India as an increasing number of patients, unwilling to accept long queues in Europe or high costs in the US, are travelling to the country to undergo surgery, according to a
India's foreign exchange reserves grew marginally by $51 million during the week ending January 21, 2005 to touch $129.43 billion.
Forex dealers said strength of the dollar overseas weighed on the rupee
India's foreign exchange reserves declined by $249 million to $249.27 billion for the week ended February 27, 2008 on revaluation of global currencies like the euro and pound sterling against the US dollar, and liquidation of Indian investments by foreign investors.Foreign currency assets declined by $1.10 billion to $238.71 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India.
In the previous week, the reserves had fallen by $3.028 billion to $360.797 billion.
Planning Commission on Thursday said a desicion was expected shortlyon using foreign exchange reserves for infrastructure projects.
SBI was the top gainer in the Sensex pack, spurting over 2 per cent, followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan. On the other hand, IndusInd Bank, PowerGrid, Bharti Airtel, Asian Paints and HDFC Bank were among the laggards.
Taking a dig at the construction of a wall on a plot having several slum structures in Ahmedabad ahead of Trump's visit there, the Sena said the US president's trip would neither stop the fall of rupee's value in forex market nor offer betterment to those (slum dwellers) behind the wall.
After three weeks of fall, India's foreign exchange reserve rose by $990 million to $248.611 billion during the week ended January 30, 2009, mainly due to revaluation in the foreign currency assets and gold reserves.
Heavy investment inflows and revaluation of currencies led to a surge in the country's foreign exchange by a record $1.82 billion during the week ending November 26, 2004.
According to data released by the Reserve Bank of India on Friday, foreign currency assets dropped by $4.54 billion to $238.30 billion during the week. Gold and special drawings rights have remained unchanged in the reserve. During the week, the reserve position in the International Monetary Fund dropped by $15 million to $828 million.
India's external firewalls were solid in the form of a healthy reserve position.
Foreign exchange reserves increased $1.046 billion to $122.224 billion for the week ended
India's foreign exchange reserves surged by $980 million to cross $120 billion mark during the week ending October 22, 2004.
If the deal goes through this will be second deal for Ebix in seven months, having bought Centrum group's forex and travel business Centrum Direct for a reported Rs 1,2000 crore valuation last August.
Reserves had touched an all-time high of $355.46 billion in the week to June 19.
Bolstered by heavy inflows, India's foreign exchange reserves rose by $515 million, crossing the $119 billion mark.
ICICI Bank was the top loser in the Sensex pack, shedding around 2 per cent, followed by Bharti Airtel, Axis Bank, Kotak Bank and PowerGrid. NSE Nifty closed 7.55 points or 0.07 per cent down at 11,527.45.
The Planning Commission has suggested an investment of up to $30 billion from the burgeoning foreign exchange reserves of over $100 billion in the country.
The foreign currency assets rose by $75 million to $291.39 billion
Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
An official of one of the biggest travel agencies in the country said that internationally, exchanging currency at the airport is most expensive as they charge higher rates. This is because travel agencies have to pay higher lease rentals at the airport. Also, the authorities share revenues.
India's foreign exchange reserve fell by $550 million to $245.80 billion during the week ended November 21, 2008, due to revaluation in some foreign currencies and partial intervention by the Reserve Bank of India to check a steep depreciation of the rupee.
It is undeniable that India's foreign exchange reserves have helped in limiting the impact of the financial crisis. If India had gone into the crisis with $100 or even $150 billion of reserves instead of $300 billion, the rupee would have declined more steeply, more quickly. China with its nearly $2 trillion of reserves suffered very little effect on the currency, says Arvind Subramanian.
India's foreign exchange reserve fell by $5.01 billion to $246.35 billion during the week-ended November 14, 2008 as the Reserve Bank of India intervened in the markets to check steep depreciation of the rupee.
India's foreign exchange reserves further rose by $328 million to cross the $121 billion mark for the week ended July 16.
After witnessing a decline in the previous week, India's foreign exchange reserves grew by $671 million to cross the $120-billion mark for the week ended July 2.
India's foreign exchange reserves declined by $525 million to reach $1,19,407 million mark for the week ended June 25.
Select leading markets like Bombay Stock Exchange, National Stock Exchange, forex and money market will remain closed on December 25, on account of Christmas.
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.
The Summit could look at the possibility of starting credit facility in local currency by the BRICS Bank.
The rupee extended gains for the fourth straight day against the US currency on Thursday.
After recording a drop in the previous week, India's foreign exchange reserves went up by over $1 billion to cross the $104-billion mark for the week ended January 23.
After three months of continuous upsurge, India's foreign exchange reserves recorded an outflow of $698 million to $103.12 billion during the week ended January 16, 2004.
Record inflows of over $1.5 billion saw India's foreign exchange reserves cross $102.1 billion for the week ended January 2, 2004.
In forward market today, premium for dollar declined on sustained receivings from exporters.
After registering a rise of over $2 billion in the previous week, India's foreign exchange reserves increased by $962 million to cross the $91 billion mark in the week ended October 17.
With an inflow of $2 billion, the highest ever in recent times, India's foreign exchange reserves zoomed past the $90 billion mark for the week ended October 10.
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