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India's foreign exchange reserves swelled by over $2.6 billion to touch $135.65 billion for the week ended February 25.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
Expressing concerns over low returns from over $178 billion forex reserves of India, World Bank has recommended that a part of these funds should be utilised in the high-return infrastructure sector.
The unearthing of capital flight of "black" money Indians have allegedly stashed away in Swiss banks could add $30 billion to the country's forex reserves, says a Bank of America Merrill Lynch report.
The country's foreign exchange reserves increased by $2.19 billion to $631.95 billion in the week ended February 4, RBI data showed. In the previous week ended January 28, the reserves had declined by $4.53 billion to $629.76 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
India's forex reserves dropped by $346 million to stand at $228.996 billion for the week ended August 10.
The country's foreign exchange reserves declined by $678 million to $634.29 billion in the week ended January 21, according to RBI data. In the previous week ended January 14, the reserves had increased by $2.23 billion to $634.96 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
Over $2 billion were added to the total reserves in the previous reporting week.
India's forex reserves increased by $1.141 billion to $200.325 billion during the week ended April 6 as against $199.179 billion in the previous week.
According to Nouveau-Nikolajsen, economic uncertainty and currency fluctuations have led to growth in the global forex market, where the daily turnover is estimated at $4 trillion, three times as much as the rest of the financial markets combined.
The country's foreign exchange reserves declined by $2.23 billion to stand at $550.87 billion for the week ended September 9, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the reserves had dropped by $7.94 billion to $553.11 billion. The fall in the reserves during the reporting week was on account of a dip in the foreign currency assets (FCAs), a major component of the overall reserves, according to the Weekly Statistical Supplement released by the RBI.
Companies are trying to clean up their balance-sheets and make provisions for forex losses as they think the disclosures will not have a major bearing on their valuations, which are already down.
The country's foreign exchange reserves declined by $7.541 billion to $572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by $8.06 billion to $580.25 billion, the Reserve Bank of India (RBI) data showed on Friday. On Friday, the rupee fell by 5 paise to close at 79.90 against the US dollar.
In the swap auction conducted on April 23, the Reserve Bank had received bids worth $ 18.65 billion against $ 5 billion on offer.
The country's foreign exchange reserves declined by a massive $8.062 billion to $580.252 billion in the week ended July 8, according to RBI data. In the previous week ended July 1, the reserves had dropped by $5.01 billion to $588.31 billion. During the reporting week ended July 8, the decrease in the reserves was on account of a fall in the Foreign Currency Assets (FCA), a major component of the overall reserves, and in the gold reserves, RBI said.
Surging forex reserves, now over $108 billion, have put 'considerable' pressure on the Reserve Bank of India, which finds the existing money control instruments inadequate to manage the capital inflows, according to PNB Gilts.
China's central banker on Monday acknowledged the presence of some speculative funds in the nation's record foreign exchange reserves of nearly $610 billion but asserted that the volume was 'not big.'
India's foreign exchange reserves surged by a healthy $2.788 billion to $343.2 billion in the week to April 17.
It is looking out for new markets to increase exports.
This facility will be available for cost reduction forex option structures in which the liability of the buyer will not exceed the net premium payable to the bank, RBI said in a notification.
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
The forex and money markets will remain closed on Friday on account of 'Buddha Purnima'.
After rising for two consecutive weeks, the country's foreign exchange reserves declined by $306 million to $601.06 billion in the week ended June 3, according to RBI data. In the previous week, the reserves had increased by $3.85 billion to $601.36 billion. It had risen by $4.23 billion to $597.51 billion in the week ended May 20.
Foreign currency assets, which are a major component of the overall reserves, rose by $646.4 million to $386.762 billion.
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 finance ministry on Friday amended the foreign exchange management rules to exclude international credit card spends from the purview of liberalised remittance scheme (LRS). The amendment to the Foreign Exchange Management (Current Account Transactions) Rules, 2000, will be effective retrospectively from May 16, the ministry said in a notification. "...the use of International Credit Card for making payment by a person towards meeting expenses while such person is on a visit outside India" will not be covered under LRS, the notification said while inserting Rule 7 in the FEM (CAT) Rules.
ED and Directorate of Revenue Intelligence have detected a significant increase in the outflow of Indian money, specifically into four countries --Thailand, Dubai, Singapore and Hong Kong.
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.
Impacted by the revaluation of international currencies, India's foreign exchange reserves fell by $135 million for the week ending June 11, 2005.
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.
'She delivers on promises, especially on security issues which is a core concern for India.'
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