“Only one surprise which has come out is that the inflation numbers for Q3 is likely to be higher than the earlier projected, that is something a little different, looks like because of that assessment only they did not go in for a rate cut despite the last two numbers having been below Reserve Bank’s … Read more
Mumbai: Private equity exits through offers for sale and repatriation of MNC profits last fiscal led to a record outflow of foreign exchange – nearly double the net foreign direct investments. As more private equity investments mature in the next few years, the outflows could be more than inflows. Forex outflows under the head ‘Income … Read more
Piyush Goyal, Minister of Commerce and Industry, at the CII AGM in New Delhi. India has a strong foreign exchange reserve and the country is in a comfortable position to meet all the requirements even in any worst-case scenario in the next five-six years, Commerce and Industry Minister Piyush Goyal said on May 24. India’s … Read more
The Reserve Bank of India’s project to shore up foreign currency reserves would be hampered by as foreign portfolio investors offload their investments in the Indian capital markets in the hunt of better returns from US bonds, pushing the central bank to sell dollars to ease currency volatility, experts said. Excluding the $1.9 billion lumpy … Read more
Mumbai: For the greater part of 2022, news items pertaining to the central bank’s depletion in forex stockpile consumed a lot of column inches and airtime, with pundits giving endless explainers for the trend that appeared to neatly dovetail with the retreat of overseas funds. But similar media attention hasn’t seemingly been paid yet to … Read more
Kolkata: The free fall in rupee is not a reflection of fundamentals of the Indian economy, which is well poised to attain its $5 trillion dollar goal in the next four to five years even as the global economy is facing headwinds at present, HDFC chairman Deepak Parekh said. The rupee depreciated about 10% this … Read more
India’s strength in the external sector may be shaking as imports sure amidst capital outflows on account of tightening of policy rates by the US Fed. India’s $600 billion strong forex reserves are adequate to finance 12 months’ imports as of March 2022 , down 30 per cent in a year since March 2021 As … Read more
India’s foreign exchange reserves fell by $2 billion in the week to March 25 to $617.648 billion, Reserve Bank of India data showed. This is the third consecutive weekly fall. The central bank’s intervention by way of dollar sales was the reason behind depletion of forex reserves, experts tracking the forex market said. The RBI‘s … Read more
India’s forex reserves declined by USD 1.425 billion to USD 631.527 billion for the week ended in February 25 due to a dip in currency assets, according to the Reserve Bank data released on Friday. The overall reserves had increased by USD 2.762 billion to USD 632.952 billion in the previous reporting week. During the … Read more
Foreign-owned assets in India increased by USD 37.3 billion in the September quarter while Indian residents’ overseas financial assets rose by USD 31.9 billion during the same period, RBI data showed on Friday. According to India’s International Investment Position (IIP), the liabilities stood at USD 1,258.9 billion during the July-September quarter as compared to USD … Read more