Forex Reserve
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.
India's Forex Reserves Hit 20-Month High, Surge to $615.97 Billion
The significant increase of $9.11 billion in reserves for the week ending December 15 follows a rise of $2.82 billion to $606.86 billion in the previous week ending December 8.
Indian Foreign Exchange Reserves Surge, Reaching a Four-Month Peak at $606.9 Billion
This upswing follows a substantial increase of $6.107 billion in the preceding week, elevating the reserves to $604.042 billion—an achievement not surpassed since the week concluding on July 14.
India's Forex Reserves Reach 4-Month High
In the week ending November 17, the reserves had already seen a boost of $5.077 billion, reaching $595.397 billion.
India's Forex Reserves Surge by $5 Billion in a Week
This increase comes after a slight dip in the forex reserves by $462 million, recorded in the preceding week that ended on November 10, bringing the reserves down to $590.32 billion.
Rupee Struggles to Recover Despite Decline in US Dollar
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.
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