Page 11 - Forex Reserves

Rs 19,500 cr PLI-II for solar equipment to save Rs 1.4-trn forex: R K Singh

Union Power Minister R K Singh on Wednesday exuded confidence that the second version of production linked incentive (PLI-II) scheme for solar manufacturing worth Rs 19,500 crore, will help save close to Rs 1.4 lakh crore forex every year. The Union Cabinet, chaired by Prime Minister, Narendra Modi, approved the implementation of the Production Linked Incentive Scheme (Tranche II) on National programme on High-Efficiency Solar PV Modules', with an outlay of Rs 19,500 crore for achieving a manufacturing capacity of 65 Giga Watt (GW) scale in High-Efficiency Solar PV Modules. The government has expanded the scope under PLI-II as the domestic manufacturing capacity will also boost exports. The PLI-I for solar modules was worth Rs 4,500 crore, which was brought with intent to meet domestic requirement mainly as India has been importing solar equipment. "This (PLI-II for solar module) will lead to a saving of Rs 1.40 lakh crore saving because of domestic manufacturing. And it will also .

Govt's intervention to protect rupee takes large bite from record reserves

While economists and the Reserve Bank of India aren't ringing any alarm bells just yet, investors are watching closely given the rupee's slump to an all-time low last month

India's foreign exchange reserves fall to lowest in 23 months

RBI's defence of the rupee cited as reason

China cuts forex reserve requirement ratio in bid to support tumbling yuan

Financial institutions will need to hold 6% of their foreign-currency deposits in reserves starting from Sept. 15, the PBOC said in a statement on Monday-- lower than the current level of 8%

Forex reserves fall $6.7 bn to $564 bn in 7 days, at 2-yr low: RBI

The central bank has been selling dollars in the foreign exchange market aggressively to curb any sharp fall in the rupee, which is one of the main reasons for the reserves to fall

Surplus parked with RBI falls below Rs 1 trillion as liquidity shrinks

RBI's forex moves, strong credit off-take lead to faster liquidity decline

Should India go for bond issue to tap NRIs, other overseas investors?

The crucial issue is what should be the interest rate to attract overseas investors, mainly Indians to take part in it

Rupee won't go into free-fall even if CAD widens to 3-3.5%: BoA's Mehta

RBI needs to be fourth buyer in the bond market, says senior executive

Rupee at 80: What can be done?

We need to maintain the gap of interest rate differential with the US by raising rates in a meas­ured way and allow the rupee to find its own level

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 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

Pak may face serious economic crisis amid fast-depleting forex reserves

Increasing size of external debt servicing in each quarter indicates the government has been borrowing dollars at higher commercial rates to meet its foreign debt repayment obligations, report said.

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

Neighbours, Russia can help convert 16.38% of India's trade into rupees

The rupee's use in trade settlement would help the RBI in conserving foreign exchange. India's forex reserves have fallen by more than Rs 1 trillion since the outbreak of the Russia-Ukraine war

Economist Pronab Sen's prescription for the uncertain state of economy

The forex reserve has shrunk and the country might be staring at a twin deficit. To get a better understanding, Business Standard's Bhaswar Kumar spoke to economist Pronab Sen. Let us listen in

Unhedged exposure via external commercial borrowing new threat to rupee

According to RBI data on external debt released, short-term debt on a residual maturity basis accounted for 44.1% of foreign exchange reserves at the end of March 2022

TMSEp211: SpiceJet, Reliance Retail, estimated IT earnings, forex reserve

Can the SpiceJet incident be brushed aside as a blip? What is Reliance Retail's growth strategy? How will TCS Q1 results set the stage for IT earnings? What is a forex reserve? All answers here

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

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

China provides $2.5-bn loan to Pakistan to boost its forex reserves

The announcement of the Chinese assistance came after France signed an agreement with Pakistan to suspend its loan worth USD 107 million under the G20 Debt Service Suspension Initiative (DSSI).