India's exports in April jumped nearly three-fold to USD 30.63 billion from USD 10.36 billion in the same month last year, according to government data released on Friday.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
Frantic dollar demand from corporates along with an aggressive hedging strategy adopted by importers in the wake of the currency volatility predominately took a toll on the domestic unit despite moves by the central bank to stabilise the currency.
The gold reserves were unchanged at $26.61 billion, the apex bank said.
The ED had filed six cases in the Additional Chief Metropolitan Magistrate (Economic Offences Court-I) which had discharged the duo in two cases in 2015 and directed them to face the trial in other cases.
UAE Exchange partners ElectraCard Services to launch 'gocash', which enables cardholders to use appropriate currency loaded on the card.
A video is being shared on social media showing the protesters counting the currency notes that were unearthed. The recovered money was said to be handed over to the security units, the Daily Mirror newspaper reported.
'With tuition fees for international students rising, education loans have become critical for bridging the gap between savings, scholarship, and full cost.'
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Cash-strapped Sri Lanka has decided to temporarily shut its embassies in Norway and Iraq, as well as the country's consulate general in Sydney, the ministry of foreign affairs said on Tuesday.
'The rupee has lost value against all other major Asian currencies, including that of Bangladesh and, of course, China.' 'Why should this be the case when the Indian economy has been growing faster than these economies, other than China?'
The marginal decline in reserves was on account of fall in foreign currency assets
The gold reserves remained unchanged at $18.151 billion.
Reserve Bank Governor Shaktikanta Das on Monday said with the country's foreign exchange reserves at $677 billion, it is comfortably placed to deal with any spillover effects and for financing of the current account deficit. Over the last three years, the country's foreign exchange reserves have surged by $270 billion. He said as per the latest data, the foreign exchange reserves are $622 billion.
Moody's Investors Service on Tuesday lowered India's GDP growth forecast for the 2020 calendar year to 5.3 per cent, on coronavirus implications on the economy. Moody's had in February projected a 5.4 per cent real GDP growth for India in 2020. This too was a downgrade from 6.6 per cent earlier forecast.
For the week under review, Special Drawing Rights fell by $ 13 million to $4.19 billion, while India's reserve position with the International Monetary Fund was down $3.5 million to $1.14 billion.
The 'Buy Back Plus' scheme will enable customers to return the unspent foreign currency and travellers cheques at the same rate at which they had been purchased, after their return to the country.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
India's foreign exchange reserves slipped marginally by $32.7 million to $293.53 billion, the Reserve Bank said.
Defending the new foreign investment guidelines released this week, commerce and industry minister Kamal Nath said on Friday the norms would not distinguish between different forms of foreign capital.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Foreign currency assets rose $1.569 billion to $329.58 billion
Finance Minister P Chidambaram on Friday launched trading in currency futures at the National Stock Exchange in Mumbai.
The total foreign exchange reserves had increased by $1.838 billion to $297.28 billion in the previous reporting week.
In November they had raised $2.19 billion from abroad, according to the Reserve Bank data released on Friday.
India's foreign exchange reserves shot up to an all-time high of $339.99 billion.
India's foreign exchange reserves have dropped by a massive $1.649 billion to $314.661 billion in the week to December 5, led by a fall in foreign currency assets.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
India's foreign exchange reserves surged by a healthy $2.788 billion to $343.2 billion in the week to April 17.
India Inc expects hike in FCNR (B) rates among on Sunday's measures to arrest rupee fall.
The country's foreign exchange reserves fell by $1.151 billion to $277.042 billion for the week ended March 26, against $278.193 billion in the previous week.
The country's foreign exchange reserves fell by $528 million for the week ended February 19 to $278.672 billion compared to $279.2 billion in the previous week. Foreign Currency Assets (FCA), during the week, declined to $254.203 billion from $254.7 billion a week ago, the RBI said in its weekly report.
Facing huge redemption pressure on funds raised via foreign currency convertible bonds (FCCBs), India Inc has requested the Reserve Bank of India (RBI) to allow companies to offer higher interest rates on fresh foreign currency loans or bonds, the proceeds of which will be used to pre-pay existing FCCBs.
The gold reserves remained unchanged at $18.691 billion.
After declining for two consecutive weeks, the country's foreign exchange reserves jumped by $2.294 billion to $316.801 billion on the back of healthy rise in foreign currency assets last week.
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
The gold reserves remained unchanged at $18.691 billion in the week.
Lots and lots of money changes hands every day in foreign exchange trading.
