Page 4 - Forex

Forex reserves drop by $3.463 billion to $684.805 billion, shows RBI data

India's forex reserves dropped by USD 3.463 billion to USD 684.805 billion in the week ended October 25, the RBI said on Friday. The overall reserves had dropped by USD 2.163 billion to USD 688.267 billion in the previous reporting week. In end-September, the reserves had hit an all time high of USD 704.885 billion. For the week ended October 25, foreign currency assets, a major component of the reserves, decreased by USD 4.484 billion to USD 593.751 billion, the data released on Friday 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. Gold reserves increased by USD 1.082 billion to USD 68.527 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 52 million to USD 18.219 billion, the apex bank said. India's reserve position with the IMF was down by USD 9 million to USD 4.307 billion in the reportin

India's foreign exchange reserves drop $2.16 bn to $688.26 bn: Govt data

India's forex reserves dropped by USD 2.163 billion to USD 688.267 billion for the week ended October 18, the Reserve Bank said on Friday. In the previous reporting week, the overall kitty had dropped by USD 10.746 billion to USD 690.43 billion in one of the largest declines in the reserves in recent times, the RBI said on Friday. In the preceding week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves had hit an all-time high of USD 704.885 billion. For the week ended October 18, foreign currency assets, a major component of the reserves, decreased by USD 3.865 billion to USD 598.236 billion, the data released on Friday 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. Gold reserves increased by USD 1.786 million to USD 67.444 billion during the week, the RBI said. The Special

RBI adds 13 more entities in 'alert list' of unauthorised forex trading

The Reserve Bank on Tuesday updated the 'Alert List' of unauthorised forex trading platforms by adding 13 more entities, including TDFX and Inefex, taking the total to 88. The Alert List contains names of entities which are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platform (ETP) for forex transactions under the Electronic Trading Platforms (Reserve Bank) Directions, 2018. Some entities in the list are Ranger Capital, TDFX, Inefex, YorkerFX, Growline, Think Markets, Smart Prop Trader, FundedNext, Weltrade, FreshForex, FX Road, DBG Markets, and Plusonetrade. RBI said the Alert List also contains names of entities/platforms/websites which appear to be promoting unauthorised entities/ETPs, including through advertisements of such unauthorised entities or claiming to be providing training/advisory services. This list is not exhaustive, it added. Further, an entity not appearing in the list sh

RBI sold $6.49 billion in spot forex market in August, shows bulletin

The RBI said it purchased $16.14 billion and sold $22.64 billion in the spot forex market in August

India's forex reserves fall by $10.75 billion to $690.43 billion

Declining for the second straight week, India's forex reserves dropped USD 10.746 billion to USD 690.43 billion for the week ended October 11 in one of the largest decreases in the kitty in recent times, the RBI said on Friday. In the previous reporting week, the reserves had dropped by USD 3.709 billion to USD 701.176 billion. At the end of September, the reserves had hit an all-time high of USD 704.885 billion. For the week ended October 11, foreign currency assets, a major component of the reserves, decreased by USD 10.542 billion to USD 602.101 billion, the data released on Friday 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. Gold reserves decreased by USD 98 million to USD 65.658 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were down by USD 86 million to USD 18.339 billion, the apex bank said. Ind

Forex reserves top $700 bn, India becomes 4th country to cross this mark

India is only the fourth economy in the world to cross $700 billion in reserves after China, Japan, and Switzerland

Forex reserves advance for 6th week to hit record high of $692.3 billion

The reserves rose by $2.84 billion in the reporting week, after having risen by a total of $19.3 billion in the prior five weeks

Inbound tourists trail pandemic levels, but forex earnings up: Report

Inbound tourism in the country is trailing the pandemic levels as foreign tourist arrivals (FTAs) in January-June this year stood at 4.78 million, which is about 90 per cent of the first half of 2019, a report said on Wednesday. However, forex earnings are up indicating that per person arrival spending is more, according to a report by Crisil Market Intelligence and Analytics. The report said that the post-pandemic recovery in India's inbound tourism is lagging the global trend as in the first half of calendar 2024, FTAs in the country stood at 4.78 million, about 90 per cent of that in the first half of calendar 2019. In comparison, globally, FTAs in the first seven months of 2024 were at 96 per cent of the pre-Covid levels of 2019, implying India is behind the curve, it added. The report stated that reduced demand from Bangladesh on account of the current political scenario there and suspension of direct flights from China impacting tourist footfalls. Both these countries were a

RBI bought net $6.93 billion in spot forex market in July: Bulletin data

RBI's net outstanding forward sales stood at $9.1 billion as of end-July, compared with a net sales of $15.84 billion at the end of the previous month, the data showed

India's forex exchange reserves expanded by $66 bn in 2024, at record high

Country has had the highest percentage growth in its reserves in 2024

India's forex reserves rise $5.25 billion to new peak of $689.24 billion

India's forex reserves jumped USD 5.248 billion to a new all-time high of USD 689.235 billion for the week ended September 6, the Reserve Bank of India said on Friday. The overall kitty had jumped by USD 2.299 billion to a record USD 683.987 billion for the previous reporting week. For the week ended September 6, foreign currency assets, a major component of the reserves, increased by USD 5.107 billion to USD 604.144 billion, the data 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. Gold reserves increased by USD 129 million to USD 61.988 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 4 million to USD 18.472 billion, the apex bank said. India's reserve position with the IMF was up by USD 9 million to USD 4.631 billion in the reporting week, the apex bank data showed.

Forex reserves jump $2.3 billion to fresh record of $683.9 billion

India's forex reserves jumped by USD 2.299 billion to a new high of USD 683.987 billion for the week ended on August 30, according to the RBI data release on Friday. In the previous reporting week, the forex reserves had jumped by USD 7.023 billion to a high of USD 681.688 billion. For the week ended August 30, foreign currency assets, a major component of the reserves, increased by USD 1.485 billion to USD 599.037 billion, the data 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. Gold reserves increased by USD 862 million to USD 61.859 billion during the week. The Special Drawing Rights (SDRs) were up by USD 9 million to USD 18.468 billion. India's reserve position with the IMF was down by USD 58 million to USD 4.622 billion in the reporting week, the apex bank data showed.

Ethanol blending has saved Rs 99,000 crore forex since 2014, says Puri

17.3 mn metric tonnes of crude oil substituted, 51.9 mn tonnes of CO2 emissions averted, the minister said

US Fed cuts likely to send $1 trn FX avalanche to China: Eurizon SLJ's CEO

The chief executive of Eurizon SLJ Capital said currency is now the biggest risk that's not priced in properly across markets - and the yuan may play an outsized role

India's forex reserves jump by $4.54 bn to $674.66 bn as of August 16

India's forex reserves jumped by USD 4.546 billion to USD 674.664 billion during the week ended August 16, the RBI said on Friday. In the previous week, the forex kitty had dropped by USD 4.8 billion to USD 670.119 billion. On August 2, the overall reserves hit an all-time high of USD 674.919 billion. In the week ended August 16, foreign currency assets, a major component of the reserves, increased by USD 3.609 billion to USD 591.569 billion, the data released on Friday 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. Gold reserves increased by USD 865 million to USD 60.104 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 60 million to USD 18.341 billion. India's reserve position with the IMF was up by USD 12 million to USD 4.65 billion during the week.

Forex reserve jumps by $9.70 billion to all-time high of $666.85 billion

India's forex reserves jumped by USD 9.699 billion to an all-time high of USD 666.854 billion for the week ended July 12, the RBI said on Friday. In the previous reporting week, the kitty had increased by USD 5.158 billion to USD 657.155 billion, surpassing the previous high of USD 655.817 billion for the week ended June 7. For the week ended July 12, foreign currency assets, a major component of the reserves, increased by USD 8.361 billion to USD 585.47 billion, the data released on Friday 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. Gold reserves increased by USD 1.231 billion to USD 58.663 billion during the week, the RBI said. The Special Drawing Rights (SDRs) were up by USD 76 million to USD 18.111 billion, the apex bank said. India's reserve position with the IMF was up by USD 32 million to USD 4.609 billion in the reportin

India's foreign exchange reserves hit new record high of $657 billion

Economists said that reserves rose due to a combination of revaluation and inflows. Forex reserves fell by $1.71 billion to $652 billion during the week ended June 28

Forex reserves jump $5.16 bn to $657.16 bn as of July 5: RBI data

India's forex reserves jumped USD 5.158 billion to USD 657.155 billion during the week ended July 5, the Reserve Bank of India (RBI) said on Friday. The forex kitty had declined for the previous two consecutive weeks, dropping USD 1.713 billion to USD 651.997 billion for the week ended June 28. The reserves had touched an all-time high of USD 655.817 billion as on June 7 this year. For the week ended July 5, foreign currency assets, a major component of the reserves, increased USD 4.228 billion to USD 577.11 billion, as per the the data released on Friday. 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. Gold reserves increased USD 904 million to USD 57.432 billion during the week, the RBI said. The Special Drawing Rights were up USD 21 million to USD 18.036 billion, the apex bank said. India's reserve position with the IMF was up USD 4 mil

ED questions TV actors in 'unauthorised' fraud forex trading app case

The Enforcement Directorate on Wednesday recorded the statement of two television actors here as part of a money laundering investigation linked to the operations of an "illegal" online forex trading platform that is alleged to have duped investors to the tune of Rs 500 crore, official sources said. The sources said actors Krystel Dsouza and Karan Wahi were called for questioning in order to elicit information about some payments being made for promotions of the app named OctaFx which also had a website -- www.octafx.com. The statements of the two have been recorded as the ED is investigating this case under the provisions of the Prevention of Money Laundering Act (PMLA), they said. Another TV actor and model Nia Sharma has also been summoned, the sources said. It is understood that the agency wants to understand the operations of the platform and these actors may not be seen as wrongdoers or accused. The money laundering case of the ED stems from a Pune Police (Shivaji Nagar poli

RBI net sells $3.64 billion of foreign currency in April: Monthly bulletin

The central bank's net outstanding forward sales by the end of April stood at $16.25 billion, against $541 million in March