Central bank raises red flag, warns of potential risk
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.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
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 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 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 depreciated 40 paise to an all-time low of 81.93 against the US dollar in early trade on Wednesday as the strengthening of the American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 81.90 against the greenback, then fell to 81.93, registering a fall of 40 paise over its previous closing.
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.
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.
Our advice to individuals holding foreign currency so far has been that they should convert half of their holdings into the Indian Rupee.
The Reserve Bank has told the International Monetary Fund (IMF) that the objective of frequent interventions in the forex market is to curb excessive volatility, dismissing the Fund's rationale for reclassifying India's exchange rate regime. The IMF, following the Article IV consultation with the Indian authorities, reclassified the status of the exchange rate regime to "stabilised arrangement" from "floating" for period between December 2022 to October 2023. India's Executive Director at IMF K V Subramanian and Senior Advisors Sanjay Kumar Hansda and Anand Singh questioned the selection period adopted by the Fund for analysis and also reclassification of the country's exchange rate regime.
The Election Commission of Pakistan (ECP) on Tuesday publicly released the details of assets of key politicians, including that of Prime Minister Khan.
Postings to places at an altitude above 1,000 metres but less than 1,500 metres, between 1,500 and 3,000 metres, and above 3,000 metres entail different rates of allowances -- the higher the location, the bigger the allowance, reveals Tamal Bandyopadhyay.
Most tour operators offer accommodation to suit different budgets.
This was the companies' highest loss in two years.
Sanjay Mathur, managing director and head of economics research for Asia Pacific (ex-Japan), Royal Bank of Scotland, tells Business Standard that in the emerging market pack, India needs to learn lessons from Korea and Taiwan, which have managed their economic situations well.
In a relief to FMCG major Dabur, two of its foreign subsidiaries, Dabur International and Dermoviva Skin Essentials, have been removed as a defendant in multiple lawsuits filed in a US court over allegations that their hair-relaxer products caused ovarian cancer, uterine cancer and other related health issues. However, lawsuits filed against its third international subsidiary Namaste Laboratories LLC, would continue before the US District Court for the Northern District of Illinois, according to a statement from Dabur on Wednesday. Dabur International and Dermoviva were removed and got relief in the multiple suits due to lack of jurisdiction as they have not either manufactured, marketed, distributed or sold hair relaxer products in the US, it added.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
Depreciating the rupee against the dollar to boost economic growth has fiscal constraints and monetary limitations
Banks and companies in India are taking a cautious approach towards Sri Lanka, which, reeling from a financial crisis, has sought a $1-billion loan from the country to import essential commodities. A senior State Bank of India (SBI) executive said the bank was committed (to Sri Lanka) for the long term. "As far as exposures (are concerned), the bank will be cautious on its dollar exposure to Sri Lankan entities till the situation improves," he said.
A gradual weakening of the rupee, however, may add to inflationary pressures.
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.
The ongoing headwinds like war-triggered inflation, rate tightening by RBI and weak rupee will lead to a Rs 60,000 crore increase in 'risky debt' in FY23, a ratings agency warned on Monday. Defining 'risky debt' as borrowings by companies having a net leverage or debt to operating profit ratio of more than five times, India Ratings said the ongoing troubles will take the stock of such loans to Rs 6.9 lakh crore by end of FY23, as against the Rs 6.3 lakh crore it would have been but for the Russian invasion of Ukraine. An analysis of 1,385 corporate entities led the domestic ratings agency to trim revenue growth projection for entities in a post-war scenario and also forecast narrowing of the profit margins due to higher commodity prices, an increase in interest rates of up to 1 per cent and the rupee depreciating by a tenth.
Sri Lankan President Gotabaya Rajapaksa, who is under pressure to resign, was dealt a further blow on Wednesday when three more parliamentarians withdrew their support to the government.
Putin said the 'policy' pursued by Modi is the main 'guarantor' of relations between the two countries.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
The rupee's fall is likely to put company promoters who raised money through foreign currency convertible bonds (FCCBs) in a spot.
Gold reserves remained unchanged at $19.943 billion.
Across most of the developing world, outflows have gathered pace.
When a strong executive decides it wants something, even something that is dangerous and unconstitutional, there is little resistance from within to stop it, notes Aakar Patel.
Currencies Direct, a UK-based commercial foreign exchange company, which claims to be one of the fastest growing such outfits this year, plans to enter India in a strategic way.
The US dollar, which is witnessing a depreciation against the rupee, constituted 41.6 per cent of the debt stock till December 2003 compared to 54.3 per cent in March end 2002.
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