The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
The Indian rupee saw a significant appreciation against the US dollar following President Trump's suspension of military strikes against Iran and the Reserve Bank of India's decision to maintain its key interest rate. Market sentiment was further buoyed by positive comments from the RBI regarding the health of the banking sector.
The Indian rupee depreciated 20 paise to close at a fresh all-time low of 94.88 against the US dollar, driven by surging Brent crude oil prices, hovering around USD 115 per barrel, and persistent foreign capital outflows.
Government is also will also enter into an agreement with Japan for a $50 billion swap.
India's foreign exchange reserves surged further by $1.6 billion to cross the $106 billion mark for the week ended February 6.
India's foreign exchange reserves rose by $2.03 billion at $142.6 4 billion, according to Reserve Bank of India's weekly statistical supplement released in Mumbai on Saturday.
The country's foreign exchange reserves dipped by $1.17 billion to stand at $637.48 billion in the week ended October 1, RBI data showed on Friday. In the previous week ended September 24, 2021, the reserves had declined by $997 million to $638.65 billion. The reserves had surged by $8.90 billion to a lifetime high of $642.45 billion in the week ended September 3, 2021.
The country's foreign exchange reserves declined by $2.47 billion to reach $616.895 billion in the week ended August 20, RBI data showed on Friday. In the previous week ended August 13, 2021, the reserves had declined by $2.099 billion to $619.365 billion. The forex kitty had touched a lifetime high of $621.464 billion in the week ended August 6, 2021.
A new report suggests that blending 20 per cent dimethyl ether (DME) with LPG could significantly reduce India's LPG imports, leading to substantial savings in foreign exchange.
Gold reserves were down by $1.441 billion in the reporting week to $35.999 billion.
India's forex kitty shrunk by $1.03 billion to $353.33 billion on the back of a dip in the core currency assets, the Reserve Bank said.
The country's foreign exchange reserves declined by $1.47 billion to $639.64 billion in the week ended September 17, RBI data showed on Friday. In the previous week ended September 10, 2021, the reserves had dipped by $1.34 billion to $641.11 billion. The reserves had surged by $8.89 billion to a lifetime high of $642.45 billion in the week ended September 3, 2021.
The Indian rupee weakened to a record intra-day low against the US dollar due to a strengthening greenback, continuous foreign capital outflows, and elevated global crude oil prices amidst the West Asia conflict.
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
The country's foreign exchange reserves declined $897 million to $572.98 billion in the week ended August 5, according to the Reserve Bank of India (RBI). In the previous week ended July 29, the reserves had risen $2.31 billion to $573.87 billion. In the week ended August 5, the fall in the foreign exchange reserves was due to a dip in the Foreign Currency Assets (FCA), a major component of the overall reserves, as per the Weekly Statistical Supplement released by RBI on Friday.
The Indian rupee rebounded against the US dollar following intervention by the Reserve Bank of India, amidst ongoing concerns about foreign capital outflows, rising crude oil prices, and geopolitical instability.
The country's foreign exchange reserves declined by a massive $6.24 billion to reach $583.945 billion in the week ended February 5, RBI data showed on Friday. In the previous week, the reserves had touched a record high of $590.185 billion after rising by $4.852 billion. In the reporting week ended February 5, the decline in the forex kitty was mainly on account of a fall in foreign currency assets (FCAs), a major component of the overall reserves.
The foreign exchange reserves rose for the fourth consecutive week with the week to October 25 adding another $1.828 billion taking the overall forex kitty to $282.95 billion, the Reserve Bank said on Friday.
The rupee recovered 55 paise from its all-time low level to close at 90.38 against the US dollar after a volatile trade on Wednesday, amid suspected aggressive central bank intervention.
The country's foreign exchange reserves rose by $2.518 billion to touch a lifetime high of $575.29 billion in the week ended November 20, RBI data showed on Friday. In the previous week ended November 13, the reserves had surged by $4.277 billion to $572.771 billion. In the reporting week, the increase in the forex kitty was on account of a rise in foreign currency assets (FCAs), a major component of the overall reserves.
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.
The Indian rupee rebounded against the US dollar after the Reserve Bank of India (RBI) restricted banks' net open positions in dollars. This move prompted banks to sell dollars, providing temporary support for the rupee amidst ongoing geopolitical tensions and rising oil prices.
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.
"It is quite possible that the rates will remain low in the near to medium term, but that will depend on how conditions evolve," said RBI Governor Sanjay Malhotra.
Subbarao said the flight of dollar being witnessed following the euro zone crisis is a 'natural reaction' when there is an uncertainty.
Gold reserves were down by $331 million to $37.264 billion.
Foreign exchange reserves increased $675 million to $164.023 billion for the week
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
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The trade deficit makes up an important part of the current account deficit, which had touched an all-time high of 4.8 per cent in 2012-13.
The Indian rupee weakened against the US dollar due to sustained foreign fund outflows and uncertainties in West Asia, although lower crude oil prices and a positive opening in domestic equity markets limited the losses.
India's foreign exchange reserves grew marginally by $51 million during the week ending January 21, 2005 to touch $129.43 billion.
Foreign exchange reserves increased $1.066 billion to $129.98 billion for the week ended February 11, 2005 from $128.914 billion in the previous week, according to the weekly supplement released by the Reserve Bank of India on Saturday.
India's forex reserves declined by $2.67 billion to $682.13 billion for the week ended November 1, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $3.46 billion to $684.805 billion.
Bolstered by heavy inflows, India's foreign exchange reserves rose by $515 million, crossing the $119 billion mark.
Foreign exchange reserves increased $1.046 billion to $122.224 billion for the week ended
India's foreign exchange reserves declined by $525 million to reach $1,19,407 million mark for the week ended June 25.
India's foreign exchange reserves further rose by $328 million to cross the $121 billion mark for the week ended July 16.
The country's foreign exchange reserves declined by $763 million to $640.11 billion in the week ended November 12, RBI data showed. In the previous week ended November 5, the reserves had decreased by $1.14 billion to $640.87 billion. It touched a lifetime high of $642.45 billion in the week ended September 3, 2021.
