[ NEW DELHI: India’s foreign exchange reserves declined for the second week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.As per the latest data released by the Reserve Bank of India (RBI), the country’s foreign exchange kitty declined by USD 2.828 billion to USD 640.334 billion … Read more
[ MUMBAI: India’s foreign exchange reserves fell for the first time in eight weeks to $643.2 billion as of April 12 from 648.6 billion – a drop of $5.4 billion.This is the steepest fall over three months, after rising $32.5 billion in the previous seven weeks. The decline comes after the RBI sold dollars in … Read more
[ MUMBAI: The current account deficit narrowed to $10.5 billion, or 1.2% of the country’s gross domestic product, in Q3 FY24 from $11.4 billion (1.3% of GDP) in Q2 FY24. The deficit was sharply lower than the $16.8 billion – 2% of GDP – recorded in the year-ago period. Analysts are now forecasting that the … Read more
[ MUMBAI: The rupee declined by 4 paise to settle at 82.90 (provisional) against the US currency on Monday on firm crude oil prices. Gains in domestic stock markets and foreign fund inflows capped the rupee’s losses, analysts said. The local unit opened firm at 82.84 to a dollar at the interbank foreign exchange market … Read more
[ MUMBAI: The rupee stayed firm for the fourth straight session and gained 4 paise to 82.92 against the US dollar in early trade on Thursday, tracking a weak American currency against major overseas rivals. Forex trader said, however, the Indian currency was under pressure due to subdued equity market sentiment and elevated level of … Read more
[ MUMBAI: The rupee appreciated 7 paise to close at 83.23 against the US dollar on Thursday, helped by a bullish trend in domestic equities and weakness of the American currency in the overseas market. However, rising crude oil prices capped sharp gains for the local unit, forex traders said. At the interbank foreign exchange … Read more
[ NEW DELHI: India’s foreign exchange reserves increased by $4.471 billion to $620.441 billion in the week ending December 22, 2023, hitting a 21-month high, the latest data released by the Reserve Bank of India showed. In the calendar year 2023, the RBI added about $58 billion to its foreign exchange kitty.Last week, India’s foreign … Read more
