Page 5 - India Forex Reserve

Rupee dwindles 4 paise, reaches 83.17 against US dollar in early trade

The rupee depreciated 4 paise to 83.17 against the US dollar in early trade on Wednesday amid selling of equities by foreign investors and an upward movement in crude oil prices. Subdued sentiment in the domestic equity markets also weighed on the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened at 83.13 and slipped to 83.17 against the greenback, down 4 paise from its previous close. The domestic currency settled 1 paisa higher at 83.13 on Tuesday. The range-bound movement in the Indian currency was attributed to investors' concern over upcoming inflation numbers of India as well as the US to be released this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.02 per cent lower at 102.26 on Wednesday. Brent crude futures, the global oil benchmark, rose 0.23 per cent to USD 77.77 per barrel. In the domestic equity market, 30-share benchmark Sensex was tradin

Rupee rises 6 paise to 83.08 against US dollar in third straight session

The rupee stayed on upward track for the third straight session and rose 6 paise to 83.08 against the US dollar in early trade on Tuesday amid a weak american currency and favourable crude oil prices. A positive cue from domestic equity markets and sustained buying by foreign institutional investors also supported the Indian currency, forex traders said. At the interbank foreign exchange, the domestic currency opened strong at 83.07 and rose to the level of 83.04 against dollar in initial deals. The local unit then traded at 83.08 against the greenback, registering a rise of 6 paise from its previous close. The domestic currency settled 1 paisa higher at 83.14 on Monday, a day after gaining 9 paise on Friday. Analysts said investors will keep a close watch on domestic inflation numbers as well as the data from the US to be released later this week. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.07 per cent lower

India's forex reserves jump $2.75 bn to $623.2 bn, shows RBI data

In the previous reporting week, the overall reserves had increased by $4.471 billion to $620.441 billion

Central theme of '24: Fight with inflation for growth

A rate cut will happen this year. When? It will depend on the growth-inflation dynamics as well as the US Fed action

Forex reserves rise by $4.47 bn to $620.44 bn in week ending Dec 22: RBI

In the previous reporting week, the kitty had swollen by $9.112 billion to $615.971 billion, making the quantum of increase one of the highest in a week

Foreign exchange reserves rise by $9 bn in week to 20-month high at $616 bn

Gold reserves rose by $446 million in the previous week, whereas Special Drawing Rights (SDRs) increased by $135 million

Forex reserves jump by $9.11 bn to $615.97 bn for week ending Dec 15: RBI

In October 2021, the country's forex kitty reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee

RBI predominantly net buyer of US Dollar over past decade in spot market

In the current financial year, the central bank has net bought $1.7 trillion as of October

India's forex reserves rise to near three-month high of $597.94 billion

The reserves rose by $2.5 billion in the reporting week, after rising $5.1 billion in the week before

India's foreign exchange reserves hit seven-week high of $590.78 billion

RBI has bolstered its forex reserves to deal with potential eventualities, RBI Governor Shaktikanta Das said on Thursday, adding that India's current account deficit is "eminently manageable"

Improved forex reserve provided policymakers room for manoeuvre: BIS report

India's improved forex reserve adequacy helped maintain investor confidence and improved policymakers' room for manoeuvre, said a report prepared by Bank for International Settlements (BIS). India maintained forex reserve upwards of USD 550 billion during most of 2022. BIS is an international financial institution which is owned by member central banks with primary goal to foster international monetary and financial cooperation. "Several members noted that the development of deeper and more liquid FX markets in the past facilitated efficient price discovery during 2022 and reduced the need for FX interventions or capital flow measures (CFMs) (including China, Indonesia and Malaysia)," the report said. In addition, minimum hedging requirements on corporates' net liability exposure in the past helped build firms' resilience and also mitigated the need for (or intensity of) an ex-post policy response in 2022, the report titled 'Inflation, external financial conditions and macro-financ

RBI MPC meeting: Key takeaways from Guv Shaktikanta Das' announcements

RBI MPC has decided to continue with the pause on repo rate at 6.5 per cent for the fourth time in a row

India's forex kitty drops $867 million to $593.037 billion: RBI data

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year

India's foreign exchange reserves fall $5 billion, shows RBI data

The RBI has been persistently selling dollars in order to protect the rupee from depreciating further

India's forex reserves post steepest weekly decline in over 6 months

They fell by $7.27 billion from the prior week, the sharpest decline since the week ended Feb 10

India's forex reserves snap 2-week decline, jump $5.9 bn to $595 bn

India's forex kitty jumped USD 5.929 billion to USD 595.067 billion for the week ended June 2, the Reserve Bank said on Friday. The reserves had dropped for two consecutive weeks and declined by USD 4.34 billion to USD 589.14 billion in the previous reporting week. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. For the week ended June 2, the foreign currency assets, a major component of the reserves, increased by USD 5.27 billion to USD 526.201 billion, according to the Weekly Statistical Supplement released by the RBI 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 jumped by USD 655 million to USD 45.557 bill

India's forex reserves comfortable for next 5-6 years: Piyush Goyal

Minister says many countries keen on fast-tracking FTA with India now

India's forex reserves edge towards $600 billion, hit near 1-year high

That is an increase of $3.55 billion from the previous week

Forex reserves at a 10-month high of $589 billion, shows RBI data

In April, the overall reserves rose by $10.31 billion, RBI data showed

At $584.25 billion, forex reserves ease from over nine-month highs

Reserves had gone up by a total of nearly $8 billion in the prior two weeks