Rupee Struggles to Recover Despite Decline in US Dollar
Newsmen Business Desk -
​​​​​​​Surprisingly, the rupee didn't witness the anticipated gains, which traders attributed to increased dollar purchases by importers, particularly oil companies, aiming to hedge their positions amidst the favorable low dollar price.
India's forex reserves decline by $2.36 billion in a week
IANS -
In the preceding week the country’s forex reserves had increased by $1.15 billion, reversing a continuous decline over the previous five weeks.
Forex reserves rise to $595.051 billion
IANS -
Foreign currency assets (FCAs) also rose by $2.5 billion to $528 billion, according to the weekly statistical supplement released by the RBI on Friday. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
India's forex reserves rise to $596.098 billion
IANS -
The forex reserves had fallen $1.318 billion in the previous week. Also in the week ending June 16, foreign currency assets rose by $2.578 billion to $527.651 billion. During the week ending June 9, foreign currency assets had dipped by $1.128 billion.
India's foreign exchange reserves rise to $588.78 billion
IANS -
As per the data, India's foreign currency assets, the biggest component of the forex reserves, rose by $4.99 billion to $519.48 billion. During the week ending April 21, the country's foreign exchange reserves had fallen by $2.164 billion to $584.248 billion. Incidentally in October 2021, the country's forex reserves had reached an all-time high of $645 billion.
India's foreign exchange reserves fall to $584.24 billion
IANS -
In the previous reporting week, the overall kitty had risen by $1.657 billion to $586.412 billion. Incidentally in October 2021, the country's forex reserves had reached an all-time high of $645 billion. In the period under review, the reserves fell mainly due to foreign currency assets (FCAs) shrinking by $2.146 billion to $514.489 billion.
India's current account deficit fell to $18.2 bn in December quarter
IANS -
According to balance of payment data released by the Reserve Bank of India (RBI) for the third quarter of the current financial year, underlying the lower current account deficit in the third quarter of 2022-23 was a narrowing of merchandise trade deficit to $72.7 billion from $78.3 billion in the second quarter of 2022-23, coupled with robust services and private transfer receipts.
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