Q3 CAD grows to 1.4%, but halves in April-December
PTI The current account deficit (CAD) increased to $7.9 billion, or 1.4 per cent of GDP, in the December quarter due to a fall in services exports, the Reserve Bank said on Thursday. The CAD -- the difference between the value of imports of goods, services and investment incomes, and that of exports -- was $3.4 billion, or 0.6 per cent, in the September quarter and 1.4 per cent in the year-ago period. During April to December, however, the deficit halved to 0.7 per cent, from 1.4 per cent a year ago. This was primarily because of fall in earnings from software, financial services and charges for intellectual property rights. "Despite a slightly lower trade deficit on a year-on-year basis, CAD ...
Indias foreign exchange falls by $2.38 billion to $360.06 billion
The Dollar Business Bureau India’s forex reserves fell by $2.38 billion to $360.60 billion in the week to December 16, as a result of outflow of foreign investor funds and depreciation in foreign currency assets that started after the Federal Reserve decided to hike rates by 25 basis points, which prompted investors exposure to emerging markets. The outflow of foreign investor funds compelled the Reserve Bank of India (RBI) to sell dollars in order to meet the demand for the greenback. During the week, foreign investors cut exposure to Indian debt and equity to almost $500 million, while the rupee depreciated by over 35 paise, closing at 67.77 on December 16. The decline in the Indian currency was primarily led by the dollar’s phenomenal rise that ...
Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) (11th Amendment) Regulations, 2015
Dated November 16th, 2015 | Copy of | Notification No.FEMA.355/2015-RB | In exercise of the powers conferred by clause (b) of sub-section (3) of Section 6 and Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999), the Reserve Bank of India hereby makes the following amendments in the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident outside India) Regulations, 2000 (Notification No. FEMA 20/2000-RB dated 3rd May, 2000) namely:- 1. Short Title & Commencement:- (i) These Regulations may be called the Foreign Exchange Management (Transfer or Issue of Security by a Person Resident Outside India) (Eleventh Amendment) Regulations, 2015. (ii) They shall come into force from the date of publication in the Official Gazette. 2. ...
