India's foreign exchange reserves surged further by $1.6 billion to cross the $106 billion mark for the week ended February 6.
With yet another record inflows of over $1 billion during the week ending December 12, 2003, India's foreign exchange reserves neared the $100 billion mark.
Vikram Kothari's Rotomac stares at a loan default of Rs 369 crore
India's foreign exchange reserves surged ahead in the first week of the new fiscal following fresh accretion of over $1 billion to move past the record levels of $112 billion during the week ended April 2, 2004.
India's foreign exchange reserves surged $5.04 billion in the week ending March 28, its biggest weekly rise in four months, as the central bank started to buy dollars regularly in an effort to build up its defences against any potential global turmoil.
Deutsche Bank on Monday completed the first forex option transaction in India. The transaction, which was a 6-month dollar/rupee risk reversal, was inked by Deutsche Bank for Reliance in Mumbai, an official release said.
India's foreign exchange reserves touched $301.23 billion by the end of February 2008. Over $102 billion have been added to the reserves since the beginning of the financial year (April 2007) due to huge capital flows, and remittances as well as weakening of dollar. The reserves stood at $294.61 billion at the end of February 22, 2008. The forex kitty swelled by $6.62 billion, amongst the largest accretion to reserves in a span of a week.
The reserves have been surging by over $3 billion for the last two consecutive weeks. The forex reserves stood at $288.316 billion, up by $3.418 billion a week before.
The foreign currency assets increased by $1.808 billion to stand at $224.870 billion as against $223.062 billion in the previous week, the Reserve Bank data stated.
The amount involved is just 3.6 per cent of our forex reserves and the gains to be made are huge -- not to try the idea would be foolhardy.
The country's foreign exchange reserves increased by $2.76 billion to $632.95 billion for the week ended February 18 on a healthy rise in the value of gold reserves and core currency assets, the RBI said on Friday. In the previous reporting week, the overall reserves had declined by $1.76 billion to $630.19 billion. During the reporting week, the rise in overall reserves was on account of an increase in the foreign currency assets (FCA), a major component of the overall reserves, the Reserve Bank of India's (RBI) weekly data released on Friday showed.
The report said the import cover has gone down to seven months, last seen in 1998 and hence, RBI will focus on recouping the reserves.
The country's foreign exchange reserves declined by $1.76 billion to $630.19 billion in the week ended on February 11, the RBI data showed. In the previous week ended February 4, the reserves had risen by $2.2 billion to $631.95 billion. It touched a lifetime high of $642.45 billion in the week ended on September 3, 2021.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
India's foreign exchange reserves declined by $685.1 million to $274.81 billion in the week ended August 30 due to a dip in the foreign currency assets, the Reserve Bank said.
India's forex reserves went up by $75 million to stand at $175.519 billion during the week ended December 15 as against $175.444 billion during the week ended December 8.
After a dream run of almost one month, India's forex reserves dipped by $ 224 million to stand at $194.410 billion during the week ended March 9 as against $194.634 billion during the week ended March 2.
The government will move fast towards a more liberal forex regime in the backdrop of a record foreign exchange reserves of 68 billion dollar and fresh inflow of $500 million a week, Finance Minister Jaswant Singh said.
India's forex reserves increased by $940 million to stand at $166.482 billion during the week ended September 22 from $165.542 billion during the week ended September 15.
The country's foreign exchange reserves declined by $4.53 billion to stand at $629.75 billion in the week ended January 28, RBI data showed on Friday. In the previous week ended January 21, the reserves had decreased by $678 million to $634.29 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
Foreign exchange earnings from tourism has risen by Rs 551 crore (Rs 5.51 billion) in June as compared to the same period last year, officials said.
India's forex reserves increased by $ 2.07 billion to stand at $157.262 billion during the week-ended April 21, 2006, as against $155.196 billion during the week ended April 14, 2006.
The latest macro-data from India is disquieting
The forex reserves stood at $144.375 billion, a rise of $1.738 billion, during the week under review, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
The country's foreign exchange reserves grew by $2.23 billion to $634.96 billion in the week ended January 14, RBI data showed. In the previous week ended January 7, the reserves had declined by $878 million to $632.74 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
If the war in the Israel-Gaza region escalates into a larger West Asian conflict, it could pose problems.
India's forex reserves declined by $4 million to stand at $142.17 billion during the week ended November 25 against $142.18 billion during the preceding week.
The rupee declined by 10 paise to close at 79.23 (provisional) against the US dollar on Friday, tracking the strength of the American currency in the overseas market. At the interbank foreign exchange market, the local currency opened at 79.20 and finally ended at 79.23, down 10 paise over its previous close of 79.13. "Gains for the currency were short-lived even after RBI announced forex related measures. "Pound held on to its gains after Boris Johnson said he was quitting as prime minister following a rush of ministerial resignations and calls for him to go," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services.
India's foreign exchange reserves rose by $1.7 billion during the week ended September 2, 2005.
The country's foreign exchange reserves declined by $908 million to $640.1 billion in the week ended October 22, RBI data showed. In the previous week ended October 15, the reserves had increased by $1.492 billion to $641.008 billion. The reserves had touched a lifetime high of $642.453 billion in the week ended September 3, 2021.
India's foreign exchange reserves fell for the third week in a row by $544 million for the week ended July eight, 2005.
The country's foreign exchange reserves declined by $1.47 billion to $633.61 billion in the week ended December 31, RBI data showed. In the previous week ended December 24, the reserves dipped by $587 million to $635.08 billion. It touched a life-time high of $642.45 billion in the week ended September 3, 2021.
Hit by the revaluation of international currencies, India's foreign exchange reserves dipped by a massive $1.16 billion for the week ended June 3, 2005.
China is also the largest owner of the US Treasury securities.
The reserves had jumped $2.03 billion to $277.38 billion in the previous week.
Clamping down on the delays in repatriating foreign exchange earnings, the Reserve Bank of India (RBI) has tightened norms for special economic zones (SEZs), asking them to realise and bring back full value of goods and services to India within a year from the date of export.
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 foreign exchange reserves can best be used to invest in certain key infrastructure areas like road and power.
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In the previous week, total reserves increased by $950.9 million to $313.536 billion.
Forex inflows may slow down and banks may be deprived of cheap funds if the government accepts Reserve Bank of India's suggestion to tax non-resident Indian deposits, bankers warned on Wednesday.
