Foreign currency assets, a major part of the overall reserves, surged $493.2 million to $282.029 billion for the period under review, Reserve Bank of India said on Friday.
India's foreign exchange reserves shot up for a third week in a row, adding a healthy $1.9 billion to touch $281.12 billion in the week to October 18 on account of growth in a key component, the Reserve Bank said.
In the previous week, the reserves had fallen by $3.028 billion to $360.797 billion.
'As long as Sebi maintains transparency and market stability, the Jane Street episode is unlikely to deter long-term foreign capital.'
Foreign exchange reserves rose $287 million to $117.879 billion in the week ended April 23, 2004 from $117.592 billion in the previous week, according to the weekly supplement released by the Reserve Bank of India on Saturday.\n\n\n\n
Gold reserves declined by $346.2 million.
The reserves had dropped by $1.434 billion to $348.934 billion.
The country's foreign exchange reserves rose by $21.1 million to $280.19 billion, the Reserve Bank said.
Credit card payments for foreign travel will be brought under the purview of the Liberalised Remittance Scheme (LRS) of the Reserve Bank, to ensure that such expenses do not escape TCS (Tax Collection at Source). While moving the Finance Bill 2023 for consideration and passage in the Lok Sabha on Friday, Finance Minister Nirmala Sitharaman said the Reserve Bank has been asked to look into ways to bring credit card payments on foreign tours under the LRS. "It has been represented that payments for foreign tours through a credit card are not being captured under the Liberalised Remittance Scheme (LRS) and such payments escape tax collection at source (TCS)," she 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.
India's foreign exchange reserves rose by $4.405 billion for the week ended August 28, to $276.362 billion as compared to $271.957 billion in the previous week.The foreign currency assets (FCA), during the week, declined to $260.523-billion from $260.938 billion in the week-ago period, RBI said in its weekly report on Friday.
India's foreign exchange reserves fell by $1.2 billion during the week-ended September 23, 2005.
Foreign currency assets increase by $3.902 billion
The country's foreign exchange reserves dipped by $0.985 billion to $279.20 billion, the Reserve Bank said on Friday.
India's foreign exchange reserves dipped by $1.327 billion to $317.313 billion in the week ended September 5 on a slide in the currency assets and gold stockpile, the Reserve Bank said.
The marginal decline in reserves was on account of fall in foreign currency assets
The country's foreign exchange reserves continued to surge ahead and for the third week in a row crossed the $1.5 billion mark.
The country's foreign exchange reserves rose by $954.6 million to $294.36 billion on account of gains in the value of gold reserves, the Reserve Bank said.
The overall reserves had jumped by $7.2 billion to $595.98 billion for the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
India's forex reserves have swelled by $12.74 billion to $609.02 billion in the week ended July 14, making it one of the strongest weekly surges in the kitty in recent times, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had risen by $1.23 billion to $596.28 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Supporting the industry ministry's proposal to set up a sovereign wealth fund to finance infrastructure projects, Chief Economic Adviser Kaushik Basu on Monday said India can use a part of its large foreign exchange reserves to create the fund.
Equity investors would track global market trends, inflation data and trading activity of foreign investors for further cues this week, analysts said. Moreover, progress of monsoon and developments related to trade talks would also be monitored by investors, experts noted.
Foreign currency assets were down $1.516 billion to $131.426 billion. While gold reserves increased $77 million to $4.453 billion, SDRs were unchanged at $4 million.
Continuing their upward march due to fresh inflows, India's foreign exchange reserves have further surged ahead by $711 million at $75.751 billion during the week ended April 11.
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.
Country's foreign exchange reserves declined sharply by $3.433 billion to $351.920 billion.
Last week, the forex reserves had surged by $2.374 billion to $363.171 billion.
India's foreign exchange reserves surged by $1.26 billion to $292.33 billion in the week ended February 7 on the back of a healthy increase in the currency assets, the Reserve Bank said.
India's foreign exchange reserves declined by a huge $2.23 billion to $275.49 billion on a sharp dip in the foreign currency assets, the Reserve Bank said on Friday.
After falling for two consecutive weeks, foreign exchange reserves marginally rose to $319.39 billion, up by $43.3 million, for the week, driven by an increase in foreign currency assets.
t might not have been advisable to use the over $250 billion forex reserves to pump in the economy earlier when India had high inflation, but now with deflationary trends, the government should use it to remove infrastructure deficits. India's foreign exchange reserves stood at $249.278 billion during the week ended February 27.
The gold reserves remained unchanged at $18.151 billion.
The Union Budget is likely to adopt a three-pronged strategy to bring about the second green revolution in agriculture and evolve methods to tap the $119 billion foreign exchange reserves to boost investment.
The reserves had dipped by $1.12 billion in the previous reporting week.
Foreign exchange reserves have hit a fresh high.
The ties between India and the Maldives came under severe strain since Muizzu, known for his pro-China leanings, took charge of the top office in November.
India's foreign exchange reserves shot up by $960.2 million to $280.17 billion on the back of a healthy rise in currency assets in the week ended July 26, Reserve Bank said.
India's foreign exchange reserves showed a dip for the first time in several weeks after the government repaid $3.04 billion of loans in advance to multilateral agencies in the last week of February.
Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra & Mahindra, Tata Steel, Larsen & Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards.
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