Authority for Advance Ruling dispenses with complex forex indexation requirement.
In the previous week, total reserves dropped by $273.8 million to $312.382 billion.
Foreign exchange reserves increased $1.133 billion to $272.281 billion during the week ended November 23, according to data released by the Reserve Bank of India (RBI).
Need for much more investment; sector would like govt help
India's foreign exchange reserves increased $1.307 billion to $262.45 billion for the week endeded October 26, according to data released by the RBI on Friday. Foreign currency assets moved up $1.305 billion to $254.629 billion. Gold reserves and SDRs were unchanged at $7.367 billion and $13 million, respectively.
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.
The reserves had dipped by $1.12 billion in the previous reporting week.
The sovereign ratings outlook for India may turn negative, from stable currently, if the country's fiscal policy fails to check external shocks like crude prices or aggravates the inflation concerns, global rating agency Moody's warned on Monday.
Here's how NRIs can protect their overseas earnings from exchange rate risk.
Both advertising growth and investments into the business have been lackadaisical. It, therefore, seems to be a good time to look at the pattern of investments into the M&E industry over the last three years.
Dr Reddy's Laboratories, Jubilant Organosys, Orchid Chemicals, Aurobindo Pharma and Shasun Chemicals and Drugs are among those who have borrowed either to expand locally or to acquire companies abroad, but are now struggling to repay the dues, analysts say. Some of the companies' debt now exceeds their market capitalisation, as local and global investors sold stocks on concerns over slowdown and falling revenues. A few drug makers may be forced to sell assets to repay debt.
The SC's dismissal of the Income-Tax department's plea that companies cannot claim deductions against tax liabilities on account of losses due to foreign exchange rate fluctuations legitimises the way companies were accounting for these forex losses.
Gold reserves rose by $588.8 million to $21.566 billion, as per the RBI data.
Khan, the chairman of Pakistan Tehreek-i-Insaf submitted the documents containing details of alleged bank accounts held by the Sharif family and loan write-off schemes.
India's foreign exchange reserves declined by $249 million to $249.27 billion for the week ended February 27, 2008 on revaluation of global currencies like the euro and pound sterling against the US dollar, and liquidation of Indian investments by foreign investors.Foreign currency assets declined by $1.10 billion to $238.71 billion, according to the Weekly Statistical Supplement released by the Reserve Bank of India.
Foreign exchange reserves declined $793 million to $162.962 billion for the week ended May 19, according to the weekly supplement released by RBI on Friday.
2013 foreign currency non-resident deposits to mature in Sep-Nov
Foreign currency assets, during the week, jumped by $924 million to $253.732 billion against $252.808 billion in the previous week, RBI said in its weekly report. FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of non-US currencies (such as Euro, Sterling, Yen) held in reserves, RBI said.
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.
Wockhardt, the Mumbai-based leading pharmaceutical and biotechnology company that is struggling to repay its nearly Rs 900-crore
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.
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.
Although its ratings outlook for foreign currency and local currency is stable, Moody's outlook for the country says it faces challenges in macroeconomic management and a backlog of structural reforms. "India's ratings are based on the assessment of the country's moderate levels of economic and institutional strength, that are supported by a rapidly growing and well-diversified economic structure," said Aninda Mitra, VP and senior analyst at Moody's.
Experts say that until the market bounces back to a respectable level and creates confidence among investors, who could look forward to some price appreciation, IPOs will not be successful.
India's foreign exchange reserves declined $1.73 billion to $254.21 billion during the week ended May 15, 2009, mainly due to revaluation of currencies.
The country's largest stock exchange in terms of volume has 'received an in-principle nod from Sebi for starting an exchange to trade foreign currency derivatives,' sources close to the development said. NSE officials, however, were not available for comment.
Foreign exchange reserves increased $1.789 billion to $197.746 billion for the week ended March 23, 2007
First-quarter results of several big companies such as Reliance Industries, Reliance Communications, Bharti Airtel and Jet Airways would have been a lot worse had they followed the Accounting Standards 11 rules prescribed by the Institute of Chartered Accountants of India.
The lukewarm response to the proposed real estate development around the Delhi airport has put its Rs 8,940-crore modernisation in a financial bind.
Airports have been asked to ensure that information relating to the use of Indian currency should be displayed at all the duty-free shops.
AMCs can invest $7 billion abroad, and $300 million per AMC, but investments are way below these levels. Most equity schemes can invest 35 per cent of their assets abroad and there are schemes that invest only in overseas equity. What's holding them back is that they are not very sure if they can buy these bonds.
Telecom infrastructure major GTL Infrastructure will use its Rs 2,200 crore cash reserves to buy back foreign currency convertible bonds.
A day after Fitch lowered India's local currency outlook to negative, international rating agency Moody's said it was also worried about the reversal of India's fiscal situation due to high oil prices and the lack of policy adjustment by the government. Moody's, however, said it was unlikely to change its investment grade rating to India's sovereign foreign currency rating or the domestic currency rating, which is below investment grade.
Foreign exchange reserves increased $273 million to $165.37 billion for the week ended August 18, according to the weekly supplement released by the RBI on Friday.
Dropping for the second straight week, India's foreign exchange reserves plummeted by a hefty $3.20 billion at $284.65 billion on a heavy decline in the currency assets, the Reserve Bank said.
India's government believes hosting a Formula One race will have no impact on the development of sport in the country, local media reported on Tuesday.
Under the revised norms, the price of the shares to be issued to overseas investors will not be less than the average of the weekly high and low prices on the stock exchanges during two weeks, instead of six months.
Given the stability of the rupee over the last 10 months, many companies have been tempted not to hedge their foreign currency risk.
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.
The country's gold reserves remained unchanged at $19.377 billion.
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