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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 …

Paytm crisis: No forex violations found by probe agency yet, says report

An investigation into potential foreign exchange breaches at Paytm Payments bank by the Enforcement Directorate of India hasn't uncovered any violations yet, according to a government source familiar with the situation, news agency Reuters reported. Since the Reserve Bank of India's announcement on January 31st that Paytm Payments Bank couldn't take in new funds, Paytm's shares have plummeted by over …

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 …

Report

The rain deficit in India is rapidly closing amid a highly cyclone-skewed distribution, and manufacturing and services activity in the country remains in expansion albeit with some sequential moderation in June, according to the RBI’s latest report released on Monday, July 17. It said India’s foreign exchange reserves increased $71.8 billion since October 21, 2022, and stood at $596.3 billion …

China is prepping its yuan to become the next dollar and the global reserve currency. In the latest salvo fired at the dollar, China has told its state-owned banks to substantially reduce interest on dollar deposits, a Reuters report said. In China, interest rates offered by the banks on dollar deposits of $50,000 and above have been capped at 4.3 …

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 …

Forex reserves fall by $28.05 bn in September-March: RBI report

The country's foreign exchange reserves declined by $28.05 billion to $607.31 billion at the end of March this year from $635.36 billion at the end of September 2021, according to an RBI report. Reserve Bank of India publishes half-yearly reports on management of foreign exchange reserves as part of its efforts towards enhanced transparency and levels of disclosure. "During the …

Forex Intervention by RBI to Touch $93 Billion by March, Says Report

The Reserve Bank of India is likely to spend at least USD 20 billion more to support the rupee and increase the forex kitty through the reminder of the financial year, taking its overall forex intervention to USD 93 billion, according to a report. The report by the Wall Street brokerage Bank of America Securities also expects the central bank …