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The RBI has temporarily relaxed interest rate restrictions on select FCNR(B) and NRE deposits, allowing banks to offer higher returns to non-resident Indians. The move aims to attract overseas funds, strengthen foreign exchange reserves and support the rupee
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Finance Minister Nirmala Sitharaman said the government will introduce additional measures to attract foreign capital, noting bond market reforms are only the beginning. She highlighted RBI steps, global uncertainties, and India’s need to strengthen foreign exchange reserves amid rising external risks
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Industry experts backed Prime Minister Narendra Modi’s appeal to avoid non-essential gold purchases, saying it would help conserve foreign exchange reserves. They also urged revival of the Gold Monetisation Scheme to protect artisans, reduce imports and improve India’s macroeconomic stability
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Jewellery stocks in India fell sharply after Prime Minister Narendra Modi urged citizens to postpone non-essential gold purchases to conserve foreign exchange amid global energy concerns. Companies like Titan, Kalyan Jewellers and Senco Gold saw heavy losses as demand fears weighed on the sector
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Finance Minister Nirmala Sitharaman said India’s strong fiscal position and healthy reserves give the RBI policy flexibility. She highlighted low debt levels, stable borrowing plans, and government measures to manage inflation risks amid global uncertainties and rising crude prices
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Rupee rebounded 10 paise to 91.80 per dollar Tuesday after retreat in dollar index. Recovery followed record lows amid global uncertainty, FII outflows and weak equities, while traders cited undervaluation, rising reserves and pending US trade deal as stabilising factors
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The central bank's weekly statistical data revealed a decline of USD 2.653 billion in India's foreign currency assets (FCA), the largest segment of the forex reserves, bringing the total to USD 545.855 billion by the end of the week.
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In the previous reporting week, the overall reserves had declined USD 2.417 billion to USD 601.453 billion
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India's foreign exchange reserves rose by $7.196 billion to $595.976 billion during the week ended May 5
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Mumbai: India’s foreign exchange reserves fell $897 million to $572.978 billion in the week ended August 5, according to the Reserve Bank of India’s (RBI) bulletin weekly statistical supplement. The fall was witnessed after it rose during the week ending July 29 after falling for the four consecutive weeks earlier. The fall in this week has […]
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In the week ended April 16, 2021, the increase in reserves was mainly due to a rise in foreign currency assets (FCAs), a major component of the overall reserves
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"India is already looking at 'V-shaped' recovery. Along with the green shoots in various sectors, in the month of February, FPI inflows were Rs 25,787 crore," Thakur said.
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In the previous week ended January 1, the reserves had increased by $4.483 billion to $585.324 billion
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In the previous week to December 18, the reserves had surged by $2.563 billion to a lifetime high of $581.131 billion
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In the previous week ended October 9, 2020, the reserves had increased by $5.867 billion to reach $551.505 billion
