Foreign exchange reserves have hit a fresh high.
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).
India's forex reserves surged by a whopping $5.04 billion to $291.3 billion in the week ended November 29 on account of a robust jump in foreign currency assets (FCAs), the Reserve Bank said.
A garland presented to Mahatma Gandhi during the iconic Dandi March of the Indian freedom struggle in 1930 failed to meet its estimated price at a UK auction. The garland, which was presented to Gandhi by the wife of his personal physician, Dr Balvantrai N Kanuga, was offered as part of an "Islamic and Indian Art" sale by Lyon & Turnbull in London. Despite failing to find a buyer at the auction, the auction house said it has received significant interest since the sale and hopes to sell it to the highest bidder.
Foreign currency assets increase by $3.902 billion
Foreign currency reserves declined $1.055 billion to $144.222 billion for the week ended September 16, 2005
Foreign exchange reserves increased $82 million to $143.435 billion for the week ended October 14, 2005 when compared with $143.353 billion in the previous week.
Last week, the forex reserves had surged by $2.374 billion to $363.171 billion.
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.
Foreign exchange reserves increased $1.789 billion to $197.746 billion for the week ended March 23, 2007
India's foreign exchange reserves rose by $1.7 billion during the week ended September 2, 2005.
Foreign currency assets, a major component of the overall reserves, declined by $3.208 billion to $395.276 billion.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
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.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
The Maharashtra Navnirman Sena (MNS) is at risk of losing its status as a recognised political party and its railway engine poll symbol after its dismal performance in the recently concluded state assembly election, where it failed to win even one seat.
The country's foreign exchange reserves rose by $1.434 billion in the week ended August 9, after dropping by $2.99 billion previous week, the Reserve Bank of India said.
India's forex kitty rose by $12.80 billion to $572.80 billion in the week ended March 17, the Reserve Bank said on Friday. In the previous reporting week, the reserves had dropped by $2.39 billion to a three-month low of $560.00 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion.
The gold reserves remained unchanged at $18.151 billion.
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India's foreign exchange reserves dropped by $1.49 billion to reach $575.27 billion as of February 3, snapping a three-week rising trend, RBI data showed on Friday. In the previous reporting week, the overall reserves had jumped by $3.03 billion to $576.76 billion. In October 2021, the country's forex kitty had reached an all-time high of $645 billion.
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
In the wake of the Chinese war, it was felt in some circles that it would be feasible to make a frontal attack on demand for gold in India. Accordingly, the Gold Control Order 1962 was issued, banning the making and selling of jewellery above 14 carats, making it compulsory for gold smiths to be licensed and submit accounts of all gold received and utilized by them etc., The measures met with lot of resistance and criticism.
The rupee ended at 59.18 compared with previous close of 59.33 to the dollar.
India's foreign exchange reserves gained a record $828 million to $67.753 billion during the week ending December 6, 2002.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
If you would like to feature in this series, do send us your photographs (at least five). Tell us about yourself and what you do in around 300 words. Do also tell us about the role fashion plays in your life. Mail us at getahead@rediff.co.in (Everyday glam).
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
Foreign exchange reserves increased $1.558 billion to $143.148 billion for the week ended March 3
Foreign exchange reserves had touched a record of $363.5 billion in the week through June 3, 2016.
Gold deposited by households to gold savings accounts will be used for auctioning, replenishment of RBI's gold reserves.
Country's foreign exchange reserves dropped by $2.063 billion to $ 335.729 billion in the week to March 13.
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In the previous week, total reserves increased by $950.9 million to $313.536 billion.
Foreign exchange reserves moved up $378 million to $73.583 billion for the week ended January 31, 2002
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
After registering an increase of $616 million in the previous week, India's foreign exchange reserves rose by $71 million at $75.354 billion during the week ended February 21.\n\n\n\n
India's forex reserves increased by $3.034 billion to $576.76 billion as of January 27, making it the third consecutive week of a jump in the kitty. The overall reserves had risen by $1.727 billion to $573.727 billion in 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.
The reserves had jumped $2.03 billion to $277.38 billion in the previous week.
Jewellers in India, the world's second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank's announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.
Foreign currency assets, a key component rose $1.6 bn to $304.9 bn.
