India's foreign exchange reserves are at a record high of $214.83 billion. Considering this rapid rise in country's forex reserves, the need to gauge adequacy of reserves has gained importance, said the RBI in its report on foreign exchange.
The foreign exchange reserves slipped by a hefty $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets, the Reserve Bank said on Friday.
The foreign exchange reserves fell by $502.4 million to $293.97 billion due to fall in the currency assets, according to Reserve Bank data released on Friday.
India's foreign exchange reserves increased by $1.349 billion for the week ended July 6 to $214.835 billion as against $213.486 billion in the previous week.
The bank has said rent payments will not earn reward points, and redemption of reward points on various cards have been capped in certain segments.
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.
India's gold reserves were also up by $297.7 million to $19.33 billion
Forex trade can be a very profitable venture. But while the money market movements are small, they can hurt big.
In a countrywide crackdown, the Central Bureau of Investigation conducted operations at 40 locations and apprehended around 14 people including home ministry officials, NGO representatives and middlemen for allegedly facilitating the clearance of foreign donations in violation of the Foreign Contribution Regulation Act, officials said on Tuesday.
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 country's forex reserves rose by $419.4 million to $315.551 billion in the week to November 14, driven by a rise in foreign currency assets.
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India's foreign exchange reserves fell by a significant $3.4 billion to $276.238 billion for the week ended May 7, as against $279.633 billion in the previous week, RBI data showed.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
It is thought that the RBI has been accumulating dollars to fight odds.
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.
India's forex reserves decreased by $601 million to stand at $162.659 billion during the week ended on July 14
On a consolidated basis, the merged entity will have 145 branches, Rs 200 crore in revenue and 1,800 employees.
The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed.
India's forex reserves decreased by $950 million to stand at $144 billion during the week ended December 23 against $145 billion during the preceding week.
India's forex reserves increased by $1.057 billion to stand at $145 billion during the week ended December 16 against $143.943 billion during the preceding week
By March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.
India's forex reserves increased by $952 million to stand at $162.912 billion during the week ended on June 30, as against $161.960 billion during the week ended June 23.
India's forex reserves decreased by 466 million to stand at 4139.44 billion during the week ended January 20, 2005 against $139.51 billion during the preceding week.
India's foreign exchange reserves fell by $23 million for the week ended July 22, 2005.
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).
India's forex reserves declined by $127 million to stand at $142.18 billion during the week ended November 18 against $142.30 billion during the preceding week.
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.
Risk management is too technical and dynamic a field to lend itself to decision-making by a committee. It needs to be run by professionals with a clear mandate and accountability, says Jamal Mecklai.
After registering a decline for the past four weeks, India's foreign exchange reserves increased by $175 million for the week ended May 27, 2005.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
The country's foreign exchange reserves declined by $763 million to $640.11 billion in the week ended November 12, RBI data showed. In the previous week ended November 5, the reserves had decreased by $1.14 billion to $640.87 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
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.
The gold reserves remained stable at $19.335 billion.
The amounts were transferred from HDFC Bank to BoB.
At a time when crude oil and natural gas prices are sky-high, public sector behemoth ONGC's haphazard planning and mismanagement in developing showpiece deep-sea KG-D5 block is costing the nation over Rs 18,000 crores due to the delayed output of oil and gas, government officials said. ONGC was originally to start gas production from the Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil was to flow in March 2020. But these targets were quietly shifted to end-2021 because of deferments in awarding the fragmented work packages of the project, two officials with direct knowledge of the matter said on condition of anonymity.
India's forex reserves fell for the fourth week in a row by $520 million to $139 billion for the week ended May 20, 2005.
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