Falling reserves and the bogey of the RBI’s role
2 years, 2 months ago

Falling reserves and the bogey of the RBI’s role

The Hindu  

There is a widespread misconception that the Reserve Bank of India has been depleting India’s foreign exchange reserves to defend the rupee. The RBI cannot simply fritter away India’s forex reserves, held mostly in dollars, by charging its “nostro” account with the Federal Reserve Bank of New York, New York. Central bank as regulator, player and jury The RBI’s intervention and dollar/rupee exchange rate are surely linked, but the question is of depletion of forex reserves. So, one billion of forex reserves depletion is caused not because of the RBI’s intervention but because of the import licence granted by the Ministry of Commerce. So, unless there is demand from a bank’s customers to remit dollars abroad, the RBI will just not be able to sell the dollars in the interbank market due its own regulations.

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History of this topic

India's Forex Reserves Drop By $1.9 Billion, Hit Near 6-Month Low
Trending News
2 days, 12 hours ago

India's Forex Reserves Drop By $1.9 Billion, Hit Near 6-Month Low

ABP News  

India's foreign exchange reserves decreased by $1.9 billion to $653 billion in the week ending December 13, marking a six-month low, according to the latest data from the Reserve Bank of India. India's foreign exchange reserves had reached a record high of $705 billion in the week ending September 27. However, reserves have declined by $52 billion in the current …

India's forex reserves drop USD 1.98 billion to USD 652.86 billion
3 days, 19 hours ago

India's forex reserves drop USD 1.98 billion to USD 652.86 billion

India TV News  

India's forex reserves dropped by USD 1.988 billion to USD 652.869 billion for the week ended December 13, the Reserve Bank of India said on Friday. In the previous reporting week, the overall reserves had dropped by USD 3.235 billion to USD 654.857 billion. For the week ended December 13, foreign currency assets, a major component of the reserves, decreased …

Recent fall in forex reserves is not sharpest decline: MoS Finance in Lok Sabha
1 week ago

Recent fall in forex reserves is not sharpest decline: MoS Finance in Lok Sabha

Live Mint  

New Delhi, December 16 : The government on Monday clarified that the recent decline in India's foreign exchange reserves is not the highest decline in the country's history. Minister of State for Finance, Pankaj Chaudhary, stated in a written reply in the Lok Sabha that the reserves declined by 2.63 per cent during the week ending November 15, 2024, compared …

Indian rupee to face renewed pressure as US yields climb
1 week ago

Indian rupee to face renewed pressure as US yields climb

Live Mint  

By Nimesh Vora MUMBAI, Dec 16 - The Indian rupee, having witnessed slight relief late last week, is likely to come under renewed strain on Monday on the back of a further rise in U.S. Treasury yields. "With inflation remaining sticky, and President-elect Trump looking to strengthen the U.S. growth performance, the Fed is set to signal a more cautious …

Forex reserves fall by $3.23 billion; Rupee gains 10 paise
1 week, 3 days ago

Forex reserves fall by $3.23 billion; Rupee gains 10 paise

New Indian Express  

MUMBAI: With the rupee hitting a new low of 84.88 to the dollar last week, the Reserve Bank of India continued selling the greenback, resulting in a further decline in forex reserves by $3.23 billion, bringing them to $654.86 billion for the week ending December 6. According to the weekly statistical supplement released by the central bank on Friday, foreign …

India’s Forex Reserves rebound after 8 weeks of decline amid global uncertainty
2 weeks, 1 day ago

India’s Forex Reserves rebound after 8 weeks of decline amid global uncertainty

Live Mint  

India's foreign exchange reserves have seen a resurgence after an eight-week decline that pushed them to multi-month lows. According to data released by the Reserve Bank of India earlier this week, reserves increased by USD 1.51 billion, reaching USD 658.091 billion for the week ending November 29. This recovery follows a sustained dip from September's all-time high of USD 704.89 …

Forex reserves jump $1.51 bn to $658.091 bn
2 weeks, 3 days ago

Forex reserves jump $1.51 bn to $658.091 bn

Deccan Chronicle  

Mumbai: India's forex reserves increased by USD 1.51 billion to USD 658.091 billion for the week ended November 29, the RBI said on Friday. For the week ended November 29, foreign currency assets, a major component of the reserves, increased by USD 2.061 billion to USD 568.852 billion, the data released on Friday showed. Gold reserves decreased by USD 595 …

After 7 weeks of losses, forex kitty adds $1.5 billion; rupee gains on RBI action
2 weeks, 3 days ago

After 7 weeks of losses, forex kitty adds $1.5 billion; rupee gains on RBI action

New Indian Express  

MUMBAI: For the first time in eight weeks, India's forex reserves have increased by a modest $1.51 billion, reaching $658.091 billion for the week ending November 29, after a loss of over $50 billion in the previous seven weeks. According to the weekly statistical supplement issued by the Reserve Bank Friday, the forex kitty made the first recovery in eight …

Rupee's slide: What it means for economy, markets, and you
2 weeks, 5 days ago

Rupee's slide: What it means for economy, markets, and you

India Today  

The rupee’s recent tumble to a record low of 84.73 against the US dollar has raised concerns about its impact on the economy and people’s daily lives. Although the rupee has recovered slightly today due to gains in the Chinese yuan, the recent drop reflects a confluence of global and domestic factors, creating ripple effects that extend beyond currency markets. …

India’s foreign exchange reserves decline for eighth consecutive week
Trending News
3 weeks, 1 day ago

India’s foreign exchange reserves decline for eighth consecutive week

Live Mint  

New Delhi, December 1 : India's foreign exchange reserves slumped for an eighth consecutive week to hit a multi-month low of USD 656.582 billion in the week that ended on November 22, data from the Reserve Bank of India showed. The latest RBI data showed that India's foreign currency assets, the largest component of forex reserves, stood at USD 566.791 …

India’s forex reserves hit 5-month low of $656 billion, drop by $47 billion in 7 weeks; Rupee crashes to 8-month low
Trending News
3 weeks, 3 days ago

India’s forex reserves hit 5-month low of $656 billion, drop by $47 billion in 7 weeks; Rupee crashes to 8-month low

Live Mint  

India's foreign exchange reserves extended losses for the eighth consecutive week to hit a five-month low after dropping by $47 billion cumulatively in the last seven weeks. The forex reserves dropped by $1.31 billion to $656.582 billion for the week ended November 22, Reserve Bank of India data showed on Friday. Forex traders said dollar demand from importers for meeting …

India's forex reserves drop USD 1.31 billion to USD 656.58 billion as of November 22: RBI
3 weeks, 3 days ago

India's forex reserves drop USD 1.31 billion to USD 656.58 billion as of November 22: RBI

India TV News  

India's forex reserves dropped USD 1.31 billion to USD 656.58 billion for the week ended November 22, the Reserve Bank of India said. For the week ended November 22, foreign currency assets -- a major component of the reserves -- decreased USD 3.043 billion to USD 566.791 billion, the data, which was released on Friday, showed. India's reserve position with …

India’s forex reserves hit steepest weekly drop on record at over four month low to $657.8 billion; Here’s why
1 month ago

India’s forex reserves hit steepest weekly drop on record at over four month low to $657.8 billion; Here’s why

Live Mint  

India's foreign exchange reserves fell to a more-than-four-month low last week, marking the sharpest weekly fall on record, dragged by a stronger US dollar following the US election verdict. It also indicated the Reserve Bank of India likely sold dollars in the market to support the local currency and limit its further decline after it dropped to a record low …

India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak
1 month, 1 week ago

India’s forex reserves fall for sixth straight week to hit 3-month low of $675.6 billion, down $29 billion from peak

Live Mint  

India's foreign exchange reserves dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India showed on Friday. In the previous reporting week, the forex reserves had dropped by USD 2.675 billion to USD 682.13 billion. For the week ended November 8, foreign currency assets, a …

Forex reserves dip for fifth week to over two-month low, rupee slides to record low
1 month, 2 weeks ago

Forex reserves dip for fifth week to over two-month low, rupee slides to record low

New Indian Express  

MUMBAI: The foreign exchange reserves continued to fall for the fifth consecutive week to an over two-month low of $682.13 billion for the week ending November 1, dropping by $2.7 billion as the central bank continued to defend the unit which has been under continuous assault by the dollar. Since the peak it climbed in the week to September 27, …

India’s forex reserves drop for fifth week amid RBI’s possible intervention to support rupee
1 month, 2 weeks ago

India’s forex reserves drop for fifth week amid RBI’s possible intervention to support rupee

India TV News  

India’s foreign exchange reserves fell for the fifth consecutive week, falling $2.675 billion to $682.130 billion in the week ended November 1, according to RBI data. The record reserves of $704.885 billion are slowly dwindling, likely due to RBI intervention to support the rupee. Reserve levels falling after all-time highs Recent reserve declines that peaked last month included $3.7 billion, …

India's Forex Reserves Soar to $704.885 Billion, Breaking Record Milestone
2 months, 2 weeks ago

India's Forex Reserves Soar to $704.885 Billion, Breaking Record Milestone

Live Mint  

India's foreign exchange reserves have reached a new milestone, crossing the $700 billion mark for the first time. This surge has been driven by valuation gains and dollar purchases made by the RBI. India is now only the fourth economy in the world to reach this significant milestone, joining China, Japan, and Switzerland.

India's forex reserve gained $66 billion in 2024, may cover year of projected imports
3 months, 1 week ago

India's forex reserve gained $66 billion in 2024, may cover year of projected imports

India TV News  

India's foreign exchange reserves have been increased by $66 billion this year as it continue to rise for months, hitting several all-time highs. In contrast, India's foreign exchange reserves saw a decline of $ 71 billion in 2022. Forex reserves, or foreign exchange reserves, are assets held by a nation's central bank or monetary authority. Foreign exchange reserves are generally …

India's forex reserves drop by $4.8 billion to $670.11 billion
4 months, 1 week ago

India's forex reserves drop by $4.8 billion to $670.11 billion

Hindustan Times  

India's forex reserves dropped by USD 4.8 billion to USD 670.119 billion for the week ended August 9, the Reserve Bank of India said on Friday. India's forex reserves dropped by USD 4.8 billion to USD 670.119 billion for the week ended August 9 In the previous reporting week, the kitty jumped by USD 7.533 billion to an all-time high …

Forex kitty crosses USD 670 billion, but rupee falls by two paise
4 months, 3 weeks ago

Forex kitty crosses USD 670 billion, but rupee falls by two paise

New Indian Express  

MUMBAI: The nation’s forex reserves have touched a new all-time high of $670.86 billion for the week ending July 19, adding $4 billion from the previous week, as foreign funds continue to flow in the country after the government bond inclusion into a global debt index last month. According to the weekly statistical supplement issued by the Reserve Bank Friday, …

Forex kitty up by $10 billion to $667 billion
5 months ago

Forex kitty up by $10 billion to $667 billion

New Indian Express  

MUMBAI: The country’s forex reserves, a key monetary defence against external risks, have rallied by a whopping $10 billion to touch an all-time high of $666.85 billion as of the week ending July 12, boosted by the heavy inflow into government debt after its inclusion into a global debt index from late last month. According to the latest data released …

India’s Booming Forex Reserves: Hidden Risks and Economic Concerns
5 months, 2 weeks ago

India’s Booming Forex Reserves: Hidden Risks and Economic Concerns

The Hindu  

Published : Jul 08, 2024 11:43 IST - 6 MINS READ Figures on India’s balance of payments in financial year 2023-24, released by the Reserve Bank of India recently, have added to the hype on India’s growth story. India’s current account deficit, or the surplus of current foreign exchange expenditures and outflows over current foreign exchange earnings and receipts, fell …

India's Forex Reserves Jump By $816 Million to $653.71 Billion; Details Here
5 months, 3 weeks ago

India's Forex Reserves Jump By $816 Million to $653.71 Billion; Details Here

News 18  

India’s foreign exchange reserves increased by $816 million to $653.711 billion during the week ended June 21, according to the latest RBI data. According to the latest RBI data released on June 28, India’s gold reserves rose $988 million to $56.956 billion during the week ended June 21, while the special drawing rights fell $57 million to $18.049 billion. For …

India's foreign exchange reserves jump by USD 816 million to USD 653.71 billion
5 months, 3 weeks ago

India's foreign exchange reserves jump by USD 816 million to USD 653.71 billion

India TV News  

India's forex reserves jumped by USD 816 million to USD 653.711 billion for the week ended June 21, the Reserve Bank of India said today. For the week ended June 21, foreign currency assets, a major component of the reserves, decreased by USD 106 million to USD 574.134 billion, the data released on Friday showed. India's forex reserves dropped by …

India's Forex Reserves Fall $2.92 Billion to $652.9 Billion, Gold Holding Falls $1 Billion
6 months ago

India's Forex Reserves Fall $2.92 Billion to $652.9 Billion, Gold Holding Falls $1 Billion

News 18  

After hitting all-time high levels following continuous gains, India’s foreign exchange reserves fell $2.922 billion to $652.895 billion during the week ended June 14, according to the latest data from the Reserve Bank of India. This decline follows a significant increase of $4.307 billion in the previous reporting week, which pushed the reserves to a record high of $655.817 billion …

India's forex reserves decline USD 2.922 billion to USD 652.895 billion, retreat from record highs: RBI
6 months ago

India's forex reserves decline USD 2.922 billion to USD 652.895 billion, retreat from record highs: RBI

India TV News  

In its latest report, the Reserve Bank of India said that India's foreign exchange reserves witnessed a decline of USD 2.922 billion to reach USD 652.895 billion as of June 14. Specifically, foreign currency assets, a pivotal component of the reserves, decreased by USD 2.097 billion to USD 574.24 billion during the same period, as indicated by the data released …

India's forex reserves touch fresh highs at USD 655.8 billion
6 months, 1 week ago

India's forex reserves touch fresh highs at USD 655.8 billion

Op India  

India’s foreign exchange reserves jumped USD 4.307 billion to touch a new lifetime high of USD 655.817 billion during the week that ended June 7, official data from the Reserve Bank of India showed. According to the latest data released by the Reserve Bank of India, India’s foreign currency assets, the biggest component of the forex reserves, rose by USD …

Forex Update: India's Foreign Exchange Reserves Hit All-Time High of $651.51 Billion
6 months, 2 weeks ago

Forex Update: India's Foreign Exchange Reserves Hit All-Time High of $651.51 Billion

News 18  

India’s forex reserves jumped $4.837 billion to a new all-time high of $651.51 billion for the week ended May 31, according to the latest RBI data. “Touching a new milestone, India’s foreign exchange reserves reached a historical high of $651.5 billion as on May 31,” RBI Governor Shaktikanta Das said in his statement while announcing the bimonthly policy review. Sanjeev …

India's forex reserves hit record high of $651.5 billion as of May 31
6 months, 2 weeks ago

India's forex reserves hit record high of $651.5 billion as of May 31

Hindustan Times  

India's foreign exchange reserves hit a record high of $651.5 billion as of May 31, the governor of the central bank said on Friday. India’s Forex reserves comprise of foreign currency assets, gold, special drawing rights and the RBI’s position with the International Monetary Fund. “Overall, we remain confident of meeting our external financing requirements comfortably.” RBI keeps repo rate …

Forex Update: India's Foreign Exchange Reserves Fall $2 Billion to $646.67 Billion
6 months, 3 weeks ago

Forex Update: India's Foreign Exchange Reserves Fall $2 Billion to $646.67 Billion

News 18  

After rising for three consecutive weeks, India’s forex reserves fell $2.027 billion to $646.673 billion for the week ended May 24, according to the latest RBI data. For the week ended May 24, foreign currency assets, a major component of the reserves, decreased by $1.51 billion to $567.499 billion, the data released on May 31 showed. The recent data shows …

India’s forex reserves rise for seventh straight week, jump $2.9 billion to hit all-time high of $648 billion
8 months, 1 week ago

India’s forex reserves rise for seventh straight week, jump $2.9 billion to hit all-time high of $648 billion

Live Mint  

India's foreign exchange reserves increased $2.98 billion to $648.562 billion for the week ended April 5, data released by the the Reserve Bank of India showed on Friday, April 12. In the previous reporting week, the forex kitty had increased by $2.951 billion to $645.583 billion, which was an all-time high. For the week ended April 5, the foreign currency …

India's forex reserves jump USD 2.98 billion to hit fresh peak of USD 648.56 billion: RBI
8 months, 1 week ago

India's forex reserves jump USD 2.98 billion to hit fresh peak of USD 648.56 billion: RBI

India TV News  

India's forex reserves jumped USD 2.98 billion to hit a fresh peak of USD 648.56 billion, RBI said on Friday. In the previous reporting week, the forex kitty had increased by USD 2.951 billion to USD 645.583 billion, which was an all-time high. For the week ended April 5, the foreign currency assets, a major component of the reserves, increased …

India’s forex reserves rise for sixth straight week, jump $2.6 billion to hit all-time high of $645.5 billion
8 months, 2 weeks ago

India’s forex reserves rise for sixth straight week, jump $2.6 billion to hit all-time high of $645.5 billion

Live Mint  

India's foreign exchange reserves increased $2.951 billion to $645.583 billion for the week ended March 29, data released by the the Reserve Bank of India showed on Friday, April 5. The forex kitty had increased $140 million to $642.631 billion in the previous reporting week, according to RBI data. For the week ended March 29, the foreign currency assets, a …

India's forex exchange reserves at over two-year high
9 months, 1 week ago

India's forex exchange reserves at over two-year high

Op India  

India’s foreign exchange reserves rose by USD 10.470 billion to USD 636.095 billion in the week that ended on March 8, as per the latest data released by the Reserve Bank of India. Before March 8 week, the foreign exchange reserves rose by USD 6.554 billion to USD 625.626 billion, data showed. During the latest week, India’s foreign currency assets, …

India's forex reserves see ₹54k crore boost; jump to $625 billion in March
9 months, 2 weeks ago

India's forex reserves see ₹54k crore boost; jump to $625 billion in March

Hindustan Times  

India witnessed a boost of over ₹54,000 crore in forex reserves for the week ending on March 1, announced the Reserve Bank of India on Friday. India sees major boost in forex reserves This marks a significant bump from last week's forex reserve boost, showed RBI's data. For the week ended March 1, the foreign currency assets, a major component …

India’s forex reserves snap two-week rising streak, drop to $617 billion
10 months, 1 week ago

India’s forex reserves snap two-week rising streak, drop to $617 billion

Live Mint  

India's foreign exchange reserves snapped a two-week gaining streak and stood at $617.23 billion as of February 9, coming off a one-month high, data from the Reserve Bank of India showed on Friday. Foreign exchange reserves also include India's reserve tranche position in the International Monetary Fund. In the week that the foreign exchange data pertains, the rupee fell 0.1 …

India's forex reserves hit over 20-month high, jump $9.112 bn to $615.971 bn
1 year ago

India's forex reserves hit over 20-month high, jump $9.112 bn to $615.971 bn

Firstpost  

India’s foreign currency assets, the biggest component of the forex reserves, rose USD 8.349 billion to USD 545.048 billion, the central bank’s weekly statistical data showed. India’s foreign exchange reserves rose for the fifth straight week, reaching an over 20-month high of $615.97 billion as of Dec. 15, data from the Reserve Bank of India showed on Friday. Before December …

India’s forex reserves hit 20-month high; jump to $615.971 billion: RBI
1 year ago

India’s forex reserves hit 20-month high; jump to $615.971 billion: RBI

Live Mint  

Amid heavy inflows in Indian debt and equity markets, India's foreign exchange reserves rose for the fifth straight week, reaching an over 20-month high of $615.97 billion as of December 15, according to the data released by the Reserve Bank of India on Friday. The Reserve Bank of India's intervention in forex markets along with valuation changes impact reserves. Foreign …

India's forex reserves jump USD 9.112 billion to USD 615.971 billion
1 year ago

India's forex reserves jump USD 9.112 billion to USD 615.971 billion

India TV News  

India's forex reserves jumped USD 9.112 billion to USD 615.971 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. For the week ended December 15, the foreign currency assets, a major component of the reserves, increased USD 8.349 billion to USD 545.048 billion, as per …

Forex reserves jump $2.816 billion to $606.859 billion
1 year ago

Forex reserves jump $2.816 billion to $606.859 billion

The Hindu  

India's forex reserves jumped $2.816 billion to $606.859 billion in the week ended December 8, the Reserve Bank of India said on December 15. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended December 8, the foreign currency assets …

RBI can spend $30 billion of forex reserves to defend rupee: Deutsche Bank
1 year, 3 months ago

RBI can spend $30 billion of forex reserves to defend rupee: Deutsche Bank

Live Mint  

Deutsche Bank Thursday said the Reserve Bank of India can spend up to $30 billion from the over $594 billion of forex reserves to defend the domestic currency and even though the country will be left sufficient reserves to take care of import bills for next ten months, reported PTI. The German brokerage said the Indian rupee is trading close …

India's forex reserves rise USD 1.23 billion to USD 596.28 billion
1 year, 5 months ago

India's forex reserves rise USD 1.23 billion to USD 596.28 billion

Firstpost  

Gold reserves were up USD 228 million to USD 44.06 billion, the RBI said. India’s foreign exchange reserves jumped USD 1.229 billion to USD 596.28 billion in the week ended July 7, the Reserve Bank of India said on Friday. In the previous reporting week, the overall forex reserves increased USD 1.85 billion to USD 595.05 billion. For the week …

India’s forex reserves rise by $1.85 billion to $595.05 billion; check details
1 year, 5 months ago

India’s forex reserves rise by $1.85 billion to $595.05 billion; check details

Live Mint  

India's foreign exchange reserves rose by $1.853 billion to $595.051 billion in the week ended on June 30, said the Reserve Bank of India. For the week ended on June 30, the foreign currency assets, a major component of the reserves, increased by $2.539 billion to $527.979 billion, according to the Weekly Statistical Supplement released by the RBI on Friday. …

India's Forex reserves rise by USD 1.85 billion to USD 595.05 billion
1 year, 5 months ago

India's Forex reserves rise by USD 1.85 billion to USD 595.05 billion

India TV News  

India's Forex Reserve: The Reserve Bank of India on Friday claimed that the forex exchange reserves of the country have risen by USD 1.853 billion to USD 595.051 billion in the week ended on June 30. The forex reserves reached an all-time high in Oct 2021 India, earlier on October 2021, recorded an all-time high forex reserve of USD 645 …

India’s forex reserves rise by $7.2 bn to reach at 11-month high, nears $600 bn
1 year, 7 months ago

India’s forex reserves rise by $7.2 bn to reach at 11-month high, nears $600 bn

Live Mint  

India's forex reserves inched closer to the $600 billion mark by rising $7.196 billion in the week that ended on May 5, 2023, to $595.976 billion. As per RBI's weekly statistical data, total foreign exchange reserves jumped by $7.196 billion to $595.976 billion in the week that ended on May 5, 2023. Read here: CPI inflation falls below RBI's upper …

India's foreign exchange reserves rise USD 4.5 billion to USD 588.78 billion
1 year, 7 months ago

India's foreign exchange reserves rise USD 4.5 billion to USD 588.78 billion

India TV News  

Business news : India's foreign exchange reserves rose by USD 4.532 billion to USD 588.780 billion on a weekly basis as of April 28, according to the Reserve Bank of India's data. During the prior week ended on April 21, the foreign exchange reserves fell by USD 2.16 billion to USD 584.24 billion. Coming back to RBI's latest data, India's …

India’s forex reserves rise by $4.53 bn to reach a 10-month high of $588.78 bn
1 year, 7 months ago

India’s forex reserves rise by $4.53 bn to reach a 10-month high of $588.78 bn

Live Mint  

India's forex reserves turned positive in the week that ended on April 28, 2023. As per RBI's data, forex reserves jumped by $4.532 billion to $588.780 billion in the April 28, 2023, week. Read here: Data recap: PMI hints at relief, Go First goes bust India's forex reserves were at an all-time high of $645 billion in October 2021. In …

India's forex reserves rise $4.532 billion to $588.78 billion
1 year, 7 months ago

India's forex reserves rise $4.532 billion to $588.78 billion

The Hindu  

India's foreign exchange reserves jumped $4.532 billion to $588.78 billion for the week ended April 28, the Reserve Bank of India said on Friday. In October 2021, the country's forex reserves had touched an all-time high of $645 billion. For the week ended April 28, foreign currency assets, a major component of the reserves, increased nearly $5 billion to $519.485 …

RBI sold net 384 million dollars in Jan 2023 in spot forex market
1 year, 9 months ago

RBI sold net 384 million dollars in Jan 2023 in spot forex market

Live Mint  

The Reserve Bank of India sold 384 million dollars in the spot forex market during the month of January 2023. To tame rupee depreciation this fiscal year, RBI has been intervening in the forex market via both spot and forward positions. Meanwhile, the outstanding net forward purchase at the end of the month stood at $21.729 billion. This is compared …

Forex reserves back in red, drops to 3-month low at $560 billion
1 year, 9 months ago

Forex reserves back in red, drops to 3-month low at $560 billion

Live Mint  

Forex reserves were back on the downside in the latest week that ended on March 10. As per RBI's latest report, India's reserves stood at $560.003 billion in the week ending March 10th, down by $2.397 billion. In the previous week which ended on March 3rd, reserves halted four consecutive weeks of losing streak to rise by $1.458 billion to …

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