Search Result for : Foreign Exchange Reserves

By Abin Daya Can we have a problem of plenty as far as Foreign Exchange Reserves are concerned? I’m not sure. What I know is that we do have plenty of reserves currently. We seem to be hitting new life-time highs/record levels every week. Foreign exchange reserves as on May 05, 2017 were at $375.72bn, almost enough to pay for 12 months of India’s merchandise imports. Reserve levels have been rising continuously for the past 4 weeks, and have grown by $2.99 bn for the week ending 05 May. This is the biggest weekly rise in the past 34 weeks, and also contributes to a cumulative increase of $6.7 bn over the past 4 weeks. RBI has been intervening in the market to ...

PTI India's foreign exchange reserves declined by $56.8 million to $362.73 billion in the week to February 17, on account of dip in foreign currency assets (FCAs), the Reserve Bank said on Friday. In the previous week, the reserves had fallen by $360.9 million to $362.78 billion. A major component of the overall reserves, FCAs dropped by $59.1 million to $339.72 billion in the reporting week, RBI said. Expressed in US dollar terms, they include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves. Gold reserves remained unchanged in the week at $19.248 billion, the apex bank said. The special drawing rights with the International Monetary ...

The Dollar Business Bureau Foreign exchange reserves of India were increased by $73.2 million to reach an all-time high of $365.82 billion in the week closed on August 12, supported by a surge in the foreign currency assets, the Reserve Bank of India (RBI) said on Friday. In the week earlier, the foreign exchange reserves had surged by $253.6 million to reach 365.75 billion.  Foreign currency assets (FCAs), a key component of the total reserves, were increased by $81.6 million to reach $340.36 billion. Gold reserves remain unaffected at $21.58 billion.  Expressed in terms of dollars, FCAs take account of the impact of depreciation and appreciation of non-US currencies like pound, euro and yen, held in the reserves.  India’s special drawing rights with IMF (International ...

The Dollar Business Bureau India’s Forex (foreign exchange) reserves surged by $1.407 billion and reached $363.351 billion in the week closed on July 15 due to rise in the foreign currency assets (FCAs), Reserve Bank of India (RBI) said on Friday. In the last week, the Forex reserves had dropped to $361.943 billion, a decline of $1.228 billion. A key component of the reserves, FCAs increased by $1.404 billion to reach at $338.897 billion in the given week, revealed the data by RBI. FCAs are measured in terms of dollar and include the consequence of appreciation or depreciation of currencies other than US dollars such as pound, euro and yen, kept in the reserves. The country’s reserves of gold remained unaffected at $20.576 billion. The special drawing rights of ...

The Dollar Business Bureau Reserve Bank of India (RBI) Governor Raghuram Rajan on Friday said that the bank would provide liquidity in the market and correct any disorderly behaviour of the market, after the UK’s vote to leave the European Union (EU). He said that after early investor concerns over Brexit, investments should return to the country. The RBI Governor expressed his concerns and said that he was worried about currency intervention by countries to create a competitive advantage and requested the central banks around the globe not to cause devaluation of currencies. He said, “Markets around the world are trying to factor the impact of the Brexit vote, leading to sharp changes in financial markets. However, India’s economy has strong fundamentals, ...

The Dollar Business Bureau To reduce volatility in the exchange rates, the Reserve Bank of India (RBI) will continue to use currency intervention, Raghuram Rajan, Governor of RBI said on Monday. While addressing the gathering at the Inaugural Kotak Family Distinguished Lecture organised at Columbia Law School, New York (USA), Rajan said that the country will interfere in the foreign exchange market when there is a risk in the global markets with excess capital coming into India. The governor stated that the currency would not change or move as a result of capital inflows but it would be more concentrated on the underlying principles of trade and services. He informed that the foreign exchange reserves of India surged to a record high of $360 ...

Source: PTI The country's foreign exchange reserves surged by $2.539 billion to touch an all-time high of $355.947 billion in the week ended March 18, on account of rise in foreign currency assets (FCAs), the Reserve Bank said on Friday. The reserves had touched a high of $355.46 billion in the week ended June 19 last year. In the previous week, the reserves had increased by $2.543 billion to $353.407 billion. FCAs, a major component of overall reserves, increased by $2.505 billion to $332.504 billion in the reporting week, RBI said in a release in Mumbai. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies, such as the euro, pound and the yen, held in ...

The Dollar Business Bureau    India’s foreign exchange reserves have increased to $350.29 billion during April-September 2015 from $341.64 billion recorded during the previous six-month period ending March 2015 and the buffer is enough to cover the country’s import bills up to 9.8 months. According to the Half-yearly Report on Management of Foreign Exchange Reserves released by the Reserve Bank of India (RBI) on Monday, the import cover increased to 9.8 months from 8.9 months at end-March 2015. Increase in forex reserves has also reduced the country’s liabilities in terms of foreign debt, strengthening the economy’s ability to tackle any external shocks. The country’s net International Investment Position (IIP) in end-September 2015 was -$357.8 billion, which implies that the external liabilities are ...