Page 7 - Foreign Exchange Reserves
India's foreign exchange reserves drop $7.5 billion to $572.7 billion
Foreign exchange reserves depleted around $70 billion from its peak in September 2021
 "India's foreign exchange reserves drop $7.5 billion to $572.7 billion")
India's non-oil exports to Nepal fell 13% to $943 mn in April-May
Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries
 "India's non-oil exports to Nepal fell 13% to $943 mn in April-May")
Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low
The country's foreign exchange reserves had declined by $8 billion in the week ended July 8 to hit a 15-month low of $580.25 billion as RBI stepped intervention in the forex market
 "Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low")
How the RBI is creating conditions for foreign flows to come back to India
The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI
 "How the RBI is creating conditions for foreign flows to come back to India")
CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome
If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month's imports. Any withdrawal beyond this could pose a problem
 "CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome")
Taper tantrum playbook key for RBI as rupee continues slide to record lows
The rupee has declined almost 7% this year, bringing back memories of the selloff nearly a decade ago, when fiscal and current account deficits also widened
 "Taper tantrum playbook key for RBI as rupee continues slide to record lows")
Asian countries in talks for settling trade in domestic currencies
Countries to accept trading partners' currency; move aimed at reducing dollar dependence
 "Asian countries in talks for settling trade in domestic currencies")
India's forex reserves slip $5 bn in a week amid RBI interventions
Most emerging market currencies have faced pressure since the start of the war in Ukraine in late February as investors have rushed to safe-haven assets
 "India's forex reserves slip $5 bn in a week amid RBI interventions")
What are forex reserves and why are they important?
RBI's recent measures to shore up rupee were a 'knee-jerk' reaction, said analysts. They said the country is sitting on a high forex reserve. But ever wondered what a forex reserve is? Let's find out
 "What are forex reserves and why are they important?")
RBI measures a step in right direction but forex inflows still seen limited
RBI announced five measures pertaining to the liberalisation of foreign exchange flows into India
 "RBI measures a step in right direction but forex inflows still seen limited")
Centre committed to meeting FY23 fiscal deficit target: Official
Says macroeconomic fundamentals and forex reserves are robust enough to deal with current geo-political challenges
 "Centre committed to meeting FY23 fiscal deficit target: Official")
India's forex reserves drop $5.9 bn in a week as RBI sells dollars
In two weeks, the country's foreign exchange reserves have dropped over $10 billion as the central bank stepped up intervention in the foreign exchange market
 "India's forex reserves drop $5.9 bn in a week as RBI sells dollars")
India's foreign exchange reserves decline $4.6 billion to $596 billion
RBI has been selling dollars to curb any rapid depreciation of the rupee
 "India's foreign exchange reserves decline $4.6 billion to $596 billion")
China agrees to refinance Pakistan with $2.3-bn funding: FM Ismail
"Inflow is expected shortly after some routine approvals from both sides. This will help shore up our foreign exchange reserves," he added.
 "China agrees to refinance Pakistan with $2.3-bn funding: FM Ismail")
India's foreign exchange reserve declines by $2.67 billion to $593 billiion
In the previous reporting week, forex reserves stood at $595.95 billion.
 "India's foreign exchange reserve declines by $2.67 billion to $593 billiion")
Forex reserves down by $2.67 bn, stands at $593.2 bn till May 13: RBI data
The country's foreign exchange reserves declined by $2.676 billion to stand at $593.279 billion in the week ended May 13, RBI data showed on Friday.
 "Forex reserves down by $2.67 bn, stands at $593.2 bn till May 13: RBI data")
Nepal tightens imports amidst narrowing foreign exchange reserves
Nepal's finance minister said that a proposal had been forwarded to temporarily ban the import of expensive and luxurious vehicles
 "Nepal tightens imports amidst narrowing foreign exchange reserves")
Pakistan govt 'plans to' borrow people's gold for foreign exchange crisis
According to the proposal, the commercial banks will issue a negotiable discounted instrument to the gold owner and pay an interest rate on the precious metal
 "Pakistan govt 'plans to' borrow people's gold for foreign exchange crisis")
Is the Economic Survey overestimating reserves adequacy?
There is some concern in the finance ministry about the adequacy of foreign exchange reserves in case there is an unanticipated and large withdrawal of dollars.
India's high foreign exchange reserves not enough to shield rupee
A sharp rise in oil import bill has led to a big decline in forex reserves to imports in FY22