Page 14 - Foreign Exchange

India's foreign exchange reserves drop by $2.4 billion to $576.8 billion

The country's foreign exchange reserves declined by USD 2.415 billion to stand at USD 576.869 billion in the week ended April 2, RBI data showed on Friday. In the previous week ended March 26, the reserves had decreased by USD 2.986 billion to USD 579.285 billion. The forex kitty had touched a record high of USD 590.185 billion in the week ended January 29, 2021. In the reporting week ended April 2, 2021, the decline in the reserves was mainly on account of a fall in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by USD 1.515 billion to USD 536.438 billion, weekly data by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves dropped by USD 884 million to USD 34.023 billion in the reporting week, as per the central bank data. The special drawing right

Pakistan hires banks for a possible foreign currency bond offering: Report

The nation is looking to raise funds after reaching an agreement with the IMF on resumption of a $6-bn bailout program that was secured in 2019 to avoid bankruptcy

How RBI's currency operations are spiking forward premia across tenures

From about 3.5 per cent at the start of December to 6 per cent now, three-month forwards rates are most affected

Foreign exchange reserves decline by $6.24 billion to $583.94 billion

The country's foreign exchange reserves declined by a massive $6.24 billion in the week ended February 5

RBI remains net purchaser of US dollar in November, buys $10.261 bn

The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November

US remains key forex source for India, accounts for 15-17% of goods exports

China remains the main source of India's imports, with the US at a distant fifth place

India on currency manipulation watchlist: Is that a cause for concern?

The US Treasury has, while branding Switzerland and Vietnam as currency manipulators, added India, Taiwan and Thailand to its 'Monitoring List'

India has been transparent in its forex intervention: US Treasury

The reason why India was put on the half yearly monitorin list along with nine others, was that it had a 'material' current account surplus and engaged in 'persistent, one-sided intervention'

US labels Switzerland as FX manipulator, keeps China on watch

Having removed the manipulator label from China in January, the Treasury urged the world's second-largest economy to "improve transparency" in its currency management

RoDTEP rates not decided, MEIS for exports may continue till end-March 2021

Any registered user under GST who wishes to generate IRN needs to register on e-invoice system using his GSTIN

India's forex reserves surge $4.277 bn to record high of $572.771 bn

The country's foreign exchange reserves swelled by $4.277 billion to a lifetime high of $572.771 billion in the week ended November 13, RBI data showed on Friday.

India's forex reserves up $183 mn to record high of $560.715 bn

The country's foreign exchange reserves rose $183 million to touch a record high of $560.715 billion in the week ended October 30, RBI data showed on Friday.

Market regulator's T+1 settlement proposal faces opposition from FPIs

Foreign investor body writes to the market regulator highlighting operational difficulties

Lower tax collected at source rate on funds remitted for education

But a higher rate will be levied if PAN isn't furnished

Self-reliance in manufacturing stumbles on massive import dependence

During 2018-19, foreign exchange spending mostly on capital goods stood at 25.5 per cent of total sales

Govt plans secondary listing for firms joining foreign markets: Report

India said in March it would allow local firms to directly list abroad to better access foreign capital for growth, but the rules have yet to be decided

India takes on Asia's foreign exchange hubs for rupee trade with GIFT City

India's policymakers have been increasingly concerned about the growing heft of the rupee trades in venues overseas, and GIFT City as the hub is known, seeks to fill that gap

Forex reserves climb to record $538.191 bn, gold reserves up at $39.785 bn

In the previous week ended July 31, the reserves had increased by $11.938 billion to reach $534.568 billion

India's forex reserves decline by over $2 bn; SDR value dips by $6 mn

India's foreign exchange reserves fell by $2.078 billion during the week ended June 19

India saves Rs 5000 cr in forex after capitalising on global low oil prices

State-owned oil firms were in April asked to buy import oil when global rates fell to a two-decade low.