India's forex reserves surged by a whopping $5.04 billion to $291.3 billion in the week ended November 29 on account of a robust jump in foreign currency assets (FCAs), the Reserve Bank said.
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 $666 million to stand at $176.585 billion during the week ended January 5 as against $177.251 billion during the week ended December 29.
India's forex reserves rose to $87.856 billion as on September 12, from $87.365 billion a week earlier, the RBI said in its weekly statistical supplement on Saturday.
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.
India's forex reserves went up by $1.168 billion to stand at $168.284 billion during the week ended November 10 as against $167.116 billion during the week ended November 3.
The foreign exchange reserves rose for the fourth consecutive week with the week to October 25 adding another $1.828 billion taking the overall forex kitty to $282.95 billion, the Reserve Bank said on Friday.
India's forex reserves came down by $30 million to stand at $165.275 billion during the week ended October 13 as against $165.305 billion during the week ended October 6.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
Foreign exchange reserves moved up $771 million to $89.327 billion in the week ended September 26, 2003 when compared with $88.556 billion in the previous week, according to the weekly supplement released by the RBI on Saturday.
Supporting the industry ministry's proposal to set up a sovereign wealth fund to finance infrastructure projects, Chief Economic Adviser Kaushik Basu on Monday said India can use a part of its large foreign exchange reserves to create the fund.
India's forex reserves increased by $157 million to stand at $163.033 billion during the week ended on June 16, as against $162.876 billion during the week ended June 9.
India's foreign exchange reserves declined by a huge $2.23 billion to $275.49 billion on a sharp dip in the foreign currency assets, the Reserve Bank said on Friday.
India's forex reserves decreased by $6.844 billion to stand at $137 billion during the week ended December 30 against $144 billion during the preceding week.
Some banks might charge you a nominal amount of Rs 100-150 for issuing the card.
The SC's dismissal of the Income-Tax department's plea that companies cannot claim deductions against tax liabilities on account of losses due to foreign exchange rate fluctuations legitimises the way companies were accounting for these forex losses.
The country's foreign exchange reserves rose by $1.434 billion in the week ended August 9, after dropping by $2.99 billion previous week, the Reserve Bank of India said.
The total reserves stood at $292.647 billion in the previous reporting week.
India's forex reserves increased by $2.96 billion to stand at $151.622 billion during the week ending March 31, 2006 against $148.662 billion during the week ending March 24.
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.
After rising continuously for the past three weeks, India's foreign exchange reserves fell by $1.1 billion for the week ended August 19, 2005.
The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed.
India's foreign exchange reserves rose by $2.03 billion at $142.6 4 billion, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
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.
India's forex reserves increased by $921 million to stand at $143.098 billion during the week ended December 2 against $142.18 billion during the preceding week.
India's gold reserves and special drawing rights in the week remained unchanged at $9.746 billion and $1 million respectively, the central bank said.
India's foreign exchange reserves declined by $676 million for the week-ended June 24, 2005 due to revaluation of international currencies including US dollar.
India's foreign exchange reserves declined by $ 310 million for the week ended on 11 November.
t might not have been advisable to use the over $250 billion forex reserves to pump in the economy earlier when India had high inflation, but now with deflationary trends, the government should use it to remove infrastructure deficits. India's foreign exchange reserves stood at $249.278 billion during the week ended February 27.
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.
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.
China continues to attract good inflows of foreign direct investment, with $3 trillion of forex reserves.
A forensic probe has been ordered into alleged irregularities by the department of financial services.
India's foreign exchange reserves declined for the second week in a row by $333 million for the week ended June 11.
The Union Budget is likely to adopt a three-pronged strategy to bring about the second green revolution in agriculture and evolve methods to tap the $119 billion foreign exchange reserves to boost investment.
Since end-May there has been volatility in the foreign exchange market.
Email alarm made government close arbitrage window
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.
