The Reserve Bank of India (RBI) has started winding down its short position in the dollar forward book, after a gap of seven months, on the back of a softening dollar, while infusing funds via open market operations (OMOs) to counter the resulting liquidity drain.
After three weeks of fall, India's foreign exchange reserve rose by $990 million to $248.611 billion during the week ended January 30, 2009, mainly due to revaluation in the foreign currency assets and gold reserves.
In the week ending July 26 foreign exchange reserves had recorded a rise of $960.2 million to $ 280.16 billion
India's forex kitty jumped by $10.47 billion to $636.09 billion for the week ended March 8, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had risen by $6.55 billion to $625.63 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The rupee tumbled 3 per cent against the US dollar in 2024 as concerns over slower economic growth and a stronger greenback in global markets weighed, but it was among the least volatile currencies in the world and the headwinds may be less intense in the coming year.
After witnessing a decline in the past two weeks, India's foreign exchange reserves rose by $587 million to reach $1,19,932 million mark, for the week ended 18.
Gold reserves rose by $588.8 million to $21.566 billion, as per the RBI data.
Several mutual funds (MFs) have recently approached the Reserve Bank of India (RBI) as they renew efforts to increase their overseas investment limit. In June 2022, the capital markets regulator Securities and Exchange Board of India (Sebi) permitted MFs to invest in foreign stocks within the aggregate mandated limit of $7 billion after a correction in stocks. One of the proposals shared with the RBI is to link MFs' foreign investment limit to the country's foreign exchange reserves.
Foreign currency assets, a key component rose $1.6 bn to $304.9 bn.
For the second time within a month, India's foreign exchange reserves soared by over $ 1 billion to cross a record high level of $72 billion in the week
India's foreign exchange reserves surged ahead by a record inflow of over $1.7 billion to touch $103.82 billion during the week ended January 9, 2004.
The liquidity deficit in the banking system crossed Rs 2 trillion again on Monday, despite the second instalment of cash reserve ratio (CRR) reduction coming into effect from December 28.
India's foreign exchange reserves dropped by $1.087 billion to stand at $529.99 billion for the week ended November 4 on a sharp decline in gold reserves, the Reserve Bank said on Friday. In the previous reporting week, the reserves had swelled by $6.561 billion to reach $531.08 billion, making it the biggest weekly jump in a year. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The Indian rupee is likely to depreciate further against the US dollar through the end of 2024. This is due to the continued strengthening of the greenback, combined with the weakening of the Chinese yuan, which is expected to keep pressure on the Indian currency.
India's economy is projected to grow between 6.3 per cent and 6.8 per cent in FY26, according to the Economic Survey 2024-25, tabled in Parliament on Friday. The survey highlights that the country's economic fundamentals remain strong, supported by a stable external account, fiscal consolidation, and private consumption. It noted that the government plans to strengthen long-term industrial growth by focusing on research and development (R&D), micro, small, and medium enterprises (MSMEs), and capital goods.
This is the longest winning streak for gold in the last three decades.
In the steepest weekly fall ever, India's forex reserves slid by $11.17 billion to $606.47 billion as the currency came under pressure due to geopolitical developments, according to the Reserve Bank data released on Friday. For the previous reporting week ended March 25, the overall reserves had slid by $2.03 billion to $617.65 billion. The steep fall in the reserves was because of a decline in the core currency assets, which fell by $10.73 billion to $539.73 billion.
India's forex reserves jumped by $2.98 billion to a fresh peak of $648.56 billion for the week ended April 5, the RBI said on Friday. In the previous reporting week, the forex kitty had increased by $2.951 billion to $645.583 billion, which was an all-time high. In September 2021, the country's forex kitty reached an all-time high of $642.453 billion, a level that was breached in March this year.
Foreign exchange reserves increased $675 million to $164.023 billion for the week
Among Sensex firms, Eternal, Sun Pharma, Infosys, HDFC Bank, HCL Tech, Hindustan Unilever, Power Grid, ITC and Adani Ports were the major gainers. However, Tata Motors, Trent, Bajaj Finance and Asian Paints were among the laggards.
The exemption of individual life and health insurance premiums from the Goods and Services Tax (GST) enables the insurance industry to make products affordable and attractive, said Ajay Seth, chairman of Insurance Regulatory and Development Authority of India (Irdai) at the Business Standard BFSI Insight Summit 2025.
Banks will be able to give loans to Indian companies for acquiring the entire equity stake or a controlling part of it in domestic or foreign firms as strategic investment that creates long-term value rather than for short-term financial restructuring if the Reserve Bank of India's (RBI's) draft circular, issued on Friday, comes to fruition.
India's extreme poverty rate declined sharply to 5.3 per cent over a decade from 27.1 per cent in 2011-12 even as the World Bank revised upwards its threshold poverty line to $3 per day.
The country's current account deficit widened marginally to $9.7 billion or 1.1 per cent of GDP in April-June 2024, as against $8.9 billion or 1 per cent in the year-ago period, Reserve Bank of India said on Monday. The crucial number representing the country's external sector strength has come on the heels of a surplus of $4.6 billion or 0.5 per cent of GDP recorded in the preceding January-March quarter. The Reserve Bank attributed the year-on-year widening in current account deficit to a rise in merchandise trade gap which was recorded at $65.1 billion in Q1 FY25 as compared to $56.7 billion in the year-ago period.
The country's gold reserves remained unchanged at $19.377 billion.
India's forex reserves jumped by $ 2.76 billion to $ 623.2 billion in the week ended December 29, the Reserve Bank said on Friday. In the previous reporting week, the overall reserves had increased by $4.47 billion to $620.44 billion. In October 2021, the country's forex kitty had reached an all-time high of $ 645 billion.
India's forex reserves decreased $2.282 billion to $640.33 billion for the seven days ended April 19 in the second consecutive week of drop in the kitty, the Reserve Bank of India (RBI) said on Friday. The reserves had dropped $5.40 billion to $643.16 billion in the previous reporting week, ending a multi-week trend of an increase, which also saw the overall reserves touching a new all-time high of $$648.56 billion for the week ended April 5.
Foreign currency assets, a major component of the forex reserves, dipped by $3.056 billion to $258.51 billion for the week ended May 31, the Reserve Bank.
Foreign exchange reserves moved up $845 million to $143.943 billion for the week ended December 9, 2005, according to the weekly supplement released by Reserve Bank of India
The country's forex reserves inched higher to $292.24 billion as of January 24, from $292.08 billion in the earlier week.
LinkedIn experts and real-life stories offer hope that Indian tech talent can still thrive globally, even as the $100,000 H1B fee reshapes onsite opportunities.
Foreign exchange reserves declined $9 million to $203.982 billion for the week ended May 18, according to data released by the Reserve Bank on Friday.
Among Sensex firms, State Bank of India, Bharat Electronics, Kotak Mahindra Bank, Maruti, Trent and UltraTech Cement were the major gainers. However, Bajaj Finserv, Titan, ITC and Tata Steel were among the laggards.
Foreign exchange reserves increased $995 million to $180.047 billion for the week ended February 2, according to data released by the Reserve Bank of India.
Among Sensex firms, Kotak Mahindra Bank, Larsen & Toubro, Mahindra & Mahindra, Maruti, Bharti Airtel and Tata Steel were the major gainers. However, Asian Paints and Bajaj Finance were the laggards.
From the Sensex firms, Bharat Electronics, Bajaj Finance, Bajaj Finserv, Axis Bank, Maruti and Tata Motors were among the gainers. However, Eternal, Hindustan Unilever, Trent and Titan were the major laggards.
Foreign exchange reserves declined $204 million to $84.70 billion in the week ended August 1 from $84.904 billion in the earlier week, according to the weekly supplement released by the Reserve Bank of India on Saturday.
The Reserve Bank of India (RBI) has extended the trading hours for the interbank call money market from July 1, and that of repo and tri-party repo markets from August 1. Market participants said the decision is intended to help reduce the large Standing Deposit Facility (SDF) balances held by banks with the RBI, thereby addressing liquidity mismatches.
According to data released by the Reserve Bank of India on Friday, foreign currency assets dropped by $4.54 billion to $238.30 billion during the week. Gold and special drawings rights have remained unchanged in the reserve. During the week, the reserve position in the International Monetary Fund dropped by $15 million to $828 million.
