Indias forex reserve at all-time high of $365.82 bn
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 ...
Govt to continue undertaking policy reforms: PM Modi
India wishes to contribute exponentially to the economic development of Asia, a continent which has been seen to lead from the front of the global economic growth during 21st century The Dollar Business Bureau Prime Minister Narendra Modi at the MOF-IMF Conference on Advancing Asia: Investing for the Future, in New Delhi on Saturday. Finance Minister Arun Jaitley, Christine Lagarde Managing Director, IMF and other dignitaries are also seen. Dismissing the prolonged myth that democracy and rapid economic growth cannot go together, Prime Minister Narendra Modi on Saturday asserted that even though India is currently the worlds fastest growing major economy, the government will continue to undertake policy reforms. India has dispelled the myth that democracy and rapid economic growth cannot go together, ...
