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Articles for Forex, search results for economy

India’s Forex Reserves rebound after 8 weeks of decline amid global uncertainty
2 weeks, 2 days 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 …

India Crore Billion Rbi Usd Reserve Forex
Ethiopia receives IMF relief after easing forex curbs
4 months, 3 weeks ago

Ethiopia receives IMF relief after easing forex curbs

The Hindu  

Cash-strapped ased foreign exchange curbs on Monday as part of a broad economic reform package as the International Monetary Fund approved a loan to the Horn of Africa nation seeking a multibillion-dollar bailout. “This a landmark moment for Ethiopia” and the loan is a testament to the country’s “strong commitment to transformative reforms”, IMF Managing Director Kristalina Georgieva said in …

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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 Indian Billion Rbi Reserve Forex Reserves
Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls
1 year, 10 months ago

Pakistan economic crisis: Many firms closed, inflation high, forex reserve falls

Live Mint  

Pakistan economic crisis: Several biggest companies in the crisis-hit country have halted operations as they ran out of raw materials or foreign exchange which has compounded the troubles of an economy that's trying to avert a debt default, as per Bloomberg reports. Ghandhara Tyre & Rubber Company, which manufactures tires and tubes for automobiles, shut its plant on February 13, …

Pakistan Country Limited
What doctor ordered for Indian economy: Demand revival
2 years, 1 month ago

What doctor ordered for Indian economy: Demand revival

Live Mint  

The Indian economy has been recording relatively healthy growth amid global turmoil. The International Monetary Fund and World Bank have lowered India’s estimated gross domestic product growth to less than 7% for the fiscal year 2022-23, with forecasts of a further fall in growth for 2023-24. However, as far as India’s industrial sector is concerned, investment plans would be more …

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Internationalising Rupee a Big Step towards A $5-Trillion Economy - News18
2 years, 1 month ago

Internationalising Rupee a Big Step towards A $5-Trillion Economy - News18

News 18  

India was the largest economy of the region in the 1900s, and it made sense for smaller economies to have a similar currency for ease of trade. The recent announcement of the Reserve Bank of India to make Rupee as preferred mode of international trade is a progressive move. $5-trillion economy has been a key growth target driver for which …

India Economy Growth China Russia Indian Taiwan
More global forex turmoil ahead
2 years, 2 months ago

More global forex turmoil ahead

China Daily  

A teller counts and arranges dollar notes at an Agricultural Bank of China branch in Qionghai, Hainan province. Huge forex interventions As the world economy is teetering at the edge of still another global recession, the Fed's belated and aggressive tightening is causing huge monetary shocks in the world economy. Nevertheless, these huge forex interventions take place in the most …

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How allowing Bharat Bill Payment System for cross-border payments boosts economy
2 years, 4 months ago

How allowing Bharat Bill Payment System for cross-border payments boosts economy

Live Mint  

Allowing Bharat Bill Payment System to process cross-border inbound bill payments is a much-needed boost for Non-resident Indians who have been facing challenges in paying utility bills for their family and friends in India. "Bharat Bill Payment System, owned and operated by NPCI Bharat BillPay Ltd., has transformed the bill payment experience in the country," RBI said on August 5 …

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India forex reserves 4th largest globally, says RBI governor
2 years, 4 months ago

India forex reserves 4th largest globally, says RBI governor

Hindustan Times  

India's forex reserves are the fourth largest globally, RBI governor Shaktikanta Das said on Friday as he announced a third consecutive hike in policy rates. However, he also added, “Financial sector remains well capitalised, and India's forex reserves provide insurance against global spillovers.” His statement comes days after top economist Raghuram Rajan praised the central bank’s efforts in increasing foreign …

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What are the benefits of foreign exchange reserves
2 years, 5 months ago

What are the benefits of foreign exchange reserves

Live Mint  

India's foreign exchange reserves declined by a $8.062 billion to $580.252 billion in the week ended July 8, according to Reserve Bank of India data. The foreign exchange reserves stood at $412.9 billion in March 2019, $459.9 billion in December 2019, $477.8 billion in March 2020, and $585.8 billion in December 2020. Optimum level of forex It is significant to …

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‘Rupee fell on spillover effects of strong dollar’
2 years, 7 months ago

‘Rupee fell on spillover effects of strong dollar’

The Hindu  

The rupee’s fall to all-time lows and the decline in India’s forex reserves is not driven by capital outflows, but the spillover effects of a stronger U.S. dollar, senior officials said on Wednesday. While the RBI had been intervening in the forex markets since Monday, the idea was not to hold or aim to keep the rupee at a certain …

Rupee
Sri Lanka's forex crisis bodes ill for tottering economy
2 years, 8 months ago

Sri Lanka's forex crisis bodes ill for tottering economy

The Hindu  

A t 11.20 a.m. on March 30, as the Chennai -Colombo SriLankan Airlines flight began its descent in Colombo, an announcement over the aircraft’s public address system gave out the usual instructions laced with pleasantries, welcoming all passengers to the Bandaranaike International Airport. Use only banks or authorised foreign exchange dealers appointed by the Central Bank of Sri Lanka to …

India Market Sri Lanka Money Bank Crisis Colombo
Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?
2 years, 8 months ago

Sri Lanka Economic Crisis: Street Lights Off, Forex Reserves Exhausted; What Led To Chaos?

News 18  

The economic crisis in Sri Lanka is deepening and the government there is taking strict measures, including imposing emergency, to deal with the protests over the country’s worst financial woe in decades. Forex Reserves Sri Lanka’s foreign exchange reserves have depleted by 70 per cent to USD 2.3 billion as of February in the past two years, thus impacting the …

Sri Lanka Pay Cent Lanka Street Lights Forex Reserves Reserves Sri
Sri Lanka declares economic emergency to contain food prices as forex crisis worsens
3 years, 3 months ago

Sri Lanka declares economic emergency to contain food prices as forex crisis worsens

The Hindu  

Sri Lankan President Gotabaya Rajapaksa has declared an economic emergency to contain soaring inflation after a steep fall in the value of the country's currency caused a spike in food prices. President Rajapaksa on Tuesday declared the state of emergency under the public security ordinance to prevent the hoarding of essential items, including rice and sugar. “The president has promulgated …

Sri Lanka Emergency Rice Prices Lanka Sri
India still vulnerable to 2013-like capital flight due to US monetary tightening, but forex reserves boost resilience
3 years, 5 months ago

India still vulnerable to 2013-like capital flight due to US monetary tightening, but forex reserves boost resilience

Live Mint  

India's $600 billion in reserves should help it fight market volatility from any U.S. monetary tightening, but analysts and traders warn a slowing economy and an expanding fiscal deficit still make it particularly vulnerable to capital flight. While India's increased currency reserves are expected to boost resilience this time -- $604 billion now compared with $270 billion in 2013 -- …

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