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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 Currency Billion Foreign Rbi Low Rupee
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, …

Billion Low Forex
‘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
Rupee trades almost flat at 75.28 against U.S. dollar in opening deals
3 years, 2 months ago

Rupee trades almost flat at 75.28 against U.S. dollar in opening deals

The Hindu  

The Indian rupee was trading marginally lower by 2 paise at ₹75.28 against the U.S. dollar in early trade on October 18, tracking stronger greenback against key rivals overseas. At the interbank forex market, the local unit opened on a steady note and traded cautiously between a high of ₹75.26 and a low of ₹75.29 against the American currency. On …

Rupee Dollar Forex
To counter covid impact, IMF gives an SDR booster
3 years, 3 months ago

To counter covid impact, IMF gives an SDR booster

Live Mint  

IMF helps nurture global monetary cooperation, secure financial stability, and enable international trade. An allocation of SDR 456 billion equivalent to $650 billion was approved, with effect from 23 August, to help member countries manage their pandemic-hit balance of payments problems. In line with India’s quota of 2.76% in the fund, IMF allocated SDR quota of 12.57 billion resulting in …

India Billion Imf Member Reserves Member Countries Forex Reserves