Services receipts flat at $58.6 bn in Apr-Jun: RBI
The Dollar Business Bureau India's receipts from 'invisible' services continue to remain flat at $58.6 billion in the first quarter of April-June in current financial, whereas the payments towards those activities increased by 13.8% to $35.05 billion, showed a data by the Reserve Bank of India (RBI) on Monday. The term 'invisibles' refereed to the payments and receipts resulting from foreign trade in 'invisible' services compared to the 'visible' goods. It consists of services sector, secondary income and primary income. The data by RBI on country’s invisibles is in line with the Balance of Payments and International Investment Position Manual format of International Monetary Fund (IMF) for the period of April-June 2016-17. The receipts from services of invisibles in the given quarter of this fiscal of ...
RBI signs $1.1 billion currency swap deal with Sri Lanka
The Dollar Business Bureau The Reserve Bank of India (RBI) on Friday signed a special currency swap agreement with the Central Bank of Sri Lanka. The move is aimed at evading any impact of possible volatility in foreign exchange on the bilateral trade. The new agreement which will be valid for six months is in addition to the existing framework on currency swap arrangement for the member countries of SAARC (South Asian Association for Regional Cooperation), RBI said in a statement. As per the agreement, the Central Bank of Sri Lanka can draw up to USD 1.1 billion from RBI for a period of six months. In March this year, the Reserve Bank had already signed a currency swap agreement with the ...
Indias balance of payments in Q2 2014-15
Dated December 8, 2014 | Developments in India’s Balance of Payments during the Second Quarter (July-September) of 2014-15 Preliminary data on India’s balance of payments (BoP) for the second quarter (Q2), i.e., July-September, of the financial year 2014-15, are now available and presented in Statements I and II. While Statement I presents BoP data in BPM6 format, Statement II provides the same as per the old format. Developments in India’s BoP during July-September 2014 India’s current account deficit (CAD) increased to US$ 10.1 billion (2.1 per cent of GDP) in Q2 of 2014-15 from US$ 7.8 billion (1.7 per cent of GDP) in the preceding quarter and US$ 5.2 billion (1.2 per cent of GDP) in Q2 of 2013-14. The increase ...
