Page 7 - India Forex Reserve

Forex reserves jump likely fuelled by revaluation, forward book changes

India's forex reserves rose by $6.5 billion to $531.1 billion in the week through Oct. 28, marking their biggest weekly increase since September 2021, data released by the Reserve Bank of India showed

India's foreign exchange reserves jump $6.5 billion to $531 billion

The increase in reserves is mainly due to a rise in foreign currency assets that went up by $5.7 billion during the week

India's forex reserves touch $524.5 bn, lowest level since July 2020

The primary reason for the decline is foreign currency assets, which recorded a dip of $3.5 billion to $465 billion

Rupee trade with few nations may start, internationalisation will take time

Negotiations are on with Russia, Cuba and Sudan among others to do so. Officials are hopeful that Saudi Arabia, UAE and Luxembourg would also come on board

Forex reserves rise to $532.87 bn for the first time in over two months

The country's reserves rose by $204 million from the previous week, the first increase since the week ended July 29

Forex reserves decline to over two-year low to $532.66 bn: RBI data

India's foreign exchange reserves fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020, the Reserve Bank of India's (RBI) weekly statistical supplement showed

India's forex reserves fell the most among emerging economies: Report

Since the beginning of 2022, India's reserves have fallen 13.88 per cent from $633.6 billion to $545.6 billion

Depleting forex reserves making India vulnerable? Not really, say experts

At the current rate, the reserves may provide cover for eight months of imports in FY23. Four months could be considered a danger mark

Top Headlines: FinMin won't exhaust forex for rupee; govt extends PMGKAY

Amid fast-depleting forex reserves, the Finance Ministry signalled that it was not in favour of selling the dollar to defend any particular level of the rupee

Even at $100 bn, FDI may not be sufficient to finance ballooning CAD

CAD is expected to hit a decadal high of 3.8% of GDP, or $130.5 bn; to make matters worse, FDI inflows expected are on gross basis and net inflows would be much lower than $100 bn

RBI may need to tap old ways to boost forex reserves: Economists

"The central bank should intervene to ensure that a falling currency does not eclipse India's fundamentals," Abheek Barua, chief economist at HDFC Bank, wrote in a note this week

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

The rupee has depreciated 9.7 per cent against the dollar since September 2021

India's forex reserves fall by $5.22 bn to near two-year low: RBI data

India's foreign exchange reserves fell for a seventh straight week, dropping to $545.652 bn in the week to Sept 16, its lowest level since Oct. 2, 2020

Top headlines: Indian forex reserves, Kharif rice production, and more

Foreign exchange reserves declining to government making first disbursement under PLI scheme, here are the top headlines of the day

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

India has ample forex to withstand pressure on creditworthiness: S&P

India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings Director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said. He said the rating agency does not expect the near-term pressures to have a serious impact on India's credit worthiness. "We are expecting a strong level of GDP growth of 7.3 per cent this fiscal," he said, adding the rupee exchange rate movement against the US dollar has been moderate. The rupee has depreciated about 7 per cent against the US currency this year but has performed better than its emerging market peers. Wood said India

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

Inflation, CAD: RBI's moves to stabilise rupee face many economic hurdles

The steps came after the RBI's foreign exchange reserves fell by more than $40 billion over the past nine months, largely due to its intervention in the currency market to curb rupee losses

Weak rupee a worry for Indian firms as 44% foreign loans unhedged

Experts say firms will have to either immediately take forward cover or book losses if Rs depreciates further

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