Forex Reserve
India's Forex Reserves Surge by $4.6 Billion, Reaching $674.7 Billion
In the week ended August 16, foreign currency assets, a major component of the reserves, increased by $3.6 billion to $591.6 billion, the RBI data showed.
India's Forex Reserves Hit Record $675 Billion, According to RBI Governor
Das also pointed out that there is a declining trend of CAD to 0.7% of GDP in 2023-24 from 2.0% in 2022-23 by the support of the lower trade deficit, solid performances of services, and remittances.
NRI Forex Deposits Quadruple to $2.7 Billion in April-May
These large infusions of foreign exchange have also brought strength to the rupee. The RBI's report says that the rupee is the most stable major currency at present.
India's Foreign Exchange Reserves Surge to $653.7 Billion, Up by $816 Million
Last week, the country's forex reserves added $4.3 billion to end at an unprecedented $655.8 billion on June 7. The reserve build-up reflects strengthening economic fundamentals and provides better ability to the RBI to intervene in case of rupee volatility.
India Achieves Record High Foreign Exchange Reserves: Reaches $655.8 Billion
The rise in foreign exchange reserves was accompanied by Commerce Ministry data showing a sharp 9% growth in the country's goods exports in May.
Record-breaking Forex Reserves: India's Financial Fortitude and Projected CAD Decrease, as Per RBI
In this context, he brought out that software exports, other business services, and travel comprised the lion's share of these services exports and had shown significant growth. In this context, the Governor attributed this in part to the rise in GCCs, or global capability centres, in India, which have significantly increased India's exports of software and business services.
India's Forex Reserves Soar to $644.15 Billion
This is the second consecutive week that the country's forex reserves have surged, following a preceding gain of $3.66 billion, which pushed the total to $641.59 billion for the week ended on May 3.
India's Foreign Exchange Reserves Soar to Record-Breaking $645.58 Billion
The surge in the forex kitty amounted to $2.95 billion for the week, marking the sixth consecutive week of growth following a notable increase of $26.5 billion over the preceding five weeks.
India's Forex Reserves Reach New Heights: Surging for Third Consecutive Week to $642.5 Billion
This notable increase marks the third consecutive week of substantial growth in the nation's forex reserves. Just the previous week, ending on March 8, saw a remarkable uptick of $10.47 billion, propelling the reserves to a two-year peak of $636.1 billion.
Rupee Strengthens: Gains 2 Paise Against US Dollar, Now at 83.01
The sustained uptrend in the domestic equity markets contributed to the positive momentum of the Indian currency.
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