Foreign currency assets, a major component of the overall reserves, rose by $1.404 billion to $338.897 billion in the reporting week
Gold reserves were up by $712 million to $34.729 billion.
India's forex reserves enough to cover imports for just 7 months.
The foreign exchange kitty had crossed the half-a-trillion mark for the first time in the week ended June 5, 2020, after it had swelled by $8.223 billion to stand at $501.703 billion.
During the reporting week, gold reserves increased marginally by $87 million to $26.796 billion.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
During the week, gold reserves declined by $443 million to $26.910 billion.
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
The country's foreign exchange reserves declined by $5.01 billion to $588.31 billion in the week ended July 1, according to RBI data released on Friday. In the previous week ended June 24, the reserves had increased by $2.73 billion to $593.32 billion. During the reporting week ended July 1, the fall in the foreign exchange reserves was due to a dip in Foreign Currency Assets (FCA), a major component of the overall reserves, and also in the gold reserves.
India has decided to authorise the country's biggest lender SBI to promote rupee trade with Russia and soon Moscow will name its bank to operationalise the mechanism, exporters' body FIEO said on Wednesday. The RBI in July issued a detailed circular asking banks to put in place additional arrangements for export and import transactions in Indian rupees in view of increasing interest of the global trading community in the domestic currency. Currently, a large part of bilateral trade between India and Russia is getting settled in rupee due to sanctions imposed by the US and Europe following Moscow's attack on Ukraine.
The Enforcement Directorate (ED) on Friday said it has issued show-cause notices to the Indian arm of Chinese mobile phone manufacturer Xiaomi, its chief financial officer and director Sameer B Rao, former managing director Manu Kumar Jain and three foreign banks for alleged violations of the foreign exchange law to the tune of more than Rs 5,551 crore.
Searches conducted by the Enforcement Directorate (ED) under the anti-money laundering law rose by 86 times while arrests and attachment of assets jumped by around 25 times in the 10 years since 2014 compared to the preceding nine-year period, according to official data.
EOW's superintendent of police Devendra Singh Rajput told PTI that Singh was produced before the court after his arrest.
The gold reserves remained stable at $19.335 billion.
Gold reserves in the reporting week increased by $707 million to $33.52 billion.
The value of the gold reserves increased $78.2 million to $22.764 billion
'It's not my choice to be back home. They approved everything before I left as I filled out the forms. I received my March salary and it was only half. When I inquired, they said they are holding my pay'
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The country's reserves surged by $1.432 billion to $316.311 billion in the week to November 28 due to rise in foreign currency assets, RBI data showed on Friday.
The foreign currency assets rose by $75 million to $291.39 billion
India and Russia on Tuesday set a target of $100 billion in annual trade volume by 2030 and vowed to develop a robust bilateral payment settlement mechanism using national currencies. The two sides also inked a total of nine agreements to further broadbase cooperation in a range of areas including in the economic domain following summit talks between Prime Minister Narendra Modi and Russian President Vladimir Putin.
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.
Global firm Accenture's fourth quarter results prove that the worst is behind for the Indian information technology (IT) sector, said analysts on Friday (September 27). While the pace and the broadness of recovery is debatable, they said Accenture's results and revenue growth guidance for the next financial year (FY25) reduce downside risks for Indian IT companies.
Gold reserves were up by $1.525 billion in the reporting week to $37.625 billion.
India's forex reserves rose by $204 million to $532.87 billion for the week ended October 7 on an increase in the value of gold holdings, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by $4.85 billion to $532.66 billion. The reserves had been falling for many weeks now as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
'The RBI's MPC will maintain the current policy rates (6.50%) at the policy meeting, given ongoing inflationary pressures.'
The gold reserves remained unchanged at $28.041 billion, the apex bank said.
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.
The country's foreign exchange reserves dipped by $223 million to $299.17 billion driven by a drop in its foreign currency assets.
A woman Jet Airways employee was allegedly trying to smuggle out foreign currency worth over Rs 3 crore.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
Over $2 billion were added to the total reserves in the previous reporting week.
The country's forex reserves jumped by $6.70 billion to $315.72 billion on the back of sharp increase in the foreign currency assets, the Reserve Bank of India said on Friday.
India's foreign exchange reserves declined by $4.56 billion to $282.79 billion for the week ended August 13, as against $287.35 billion the previous week due to a heavy dent in foreign currency assets.
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.
Stock markets would be driven by global trends and foreign investors' trading activity in the holiday-shortened week, analysts said adding that key equity indices may face volatile trends amid the monthly derivatives expiry on Thursday. This week markets will have just three trading sessions. Equity markets will remain closed on Monday for Holi and on Friday for Good Friday. "This week will be shorter due to market closure on both Monday for Holi and Friday for Good Friday.
Amid a big push for the Aatmanirbhar Bharat scheme of Prime Minister Narendra Modi-led government, the Indian Air Force is planning to acquire 114 fighter jets of which 96 would be built in India, and rest 18 would be imported from the foreign vendor chosen for the project.
No single individual, institution, or action is to blame for this. The BJP is responding in kind -- definitely not without checking with its government. And they wait for Mr Trump, notes Shekhar Gupta.
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.
