India to IMF: Ensure Pakistan does not divert loans to foot its defence, third-country debt bills

India to IMF: Ensure Pakistan does not divert loans to foot its defence, third-country debt bills

Krishnamurthy Subramanian. | Photo Credit: The Hindu Taking a tough stance, India has batted for “stringent monitoring” of any emergency funds provided by the International Monetary Fund (IMF) to its financially beleaguered neighbour Pakistan, stressing that such funds must not be redeployed towards defence bills or repayment of loans from other countries. India’s position was … Read more

India’s forex reserves at comfortable position to meet any requirements: Piyush Goyal

India’s forex reserves at comfortable position to meet any requirements: Piyush Goyal

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

India’s forex reserves surge to a 11-month high of $595.9

India’s forex reserves surge to a 11-month high of $595.9

The Reserve Bank of India‘s foreign exchange reserves jumped $7.2 billion to an eleven-month high of $595.98 billion in the week ended May 5. At current levels, the central bank’s reserves are at their highest since June 10, 2022. The sharp rise in the foreign exchange reserves was on account of an increase in the … Read more

India’s forex reserves up $6.31 billion to $584.76 billion, at 9-month high

India’s forex reserves up $6.31 billion to $584.76 billion, at 9-month high

India‘s forex reserves jumped by USD 6.3 billion to USD 584. 755 billion for the week ended April 7, the RBI said on Friday. In the last reporting week, the forex kitty snapped a two-week rising trend to decline by USD 329 million to 578.45 billion. Foreign Currency Assets increased by USD 4.740 billion to … Read more

Rupee’s worst is likely over, to gain in 2023: HDFC Bank treasurer

Rupee’s worst is likely over, to gain in 2023: HDFC Bank treasurer

Mumbai: The Indian rupee is likely to have seen the worst in 2022 and could start making a recovery in the new year, giving the Reserve Bank of India a chance to replenish its foreign exchange reserves kitty, a treasurer at told Reuters. “The growth differential and future prospects of better returns will give the … Read more

Forex reserves log fastest growth in 14 months

Forex reserves log fastest growth in 14 months

Mumbai: India’s central bank is beginning to add to its stockpile of foreign exchange assets yet again after valuation changes and periodic market interventions caused the reserves to shrink about $100 billion from record highs late last year. Renewed stock purchases by overseas funds and buy-sell swap trades are among a raft of factors that … Read more

India’s forex fell by $2.68 bn aided by drop in gold reserves for week ended May 13

India’s forex fell by $2.68 bn aided by drop in gold reserves for week ended May 13

India’s forex reserves fell by 2.68 billion to around $593.2 billion for the week ended May 13 with a sizable contraction of gold reserves aiding the fall, show latest data from the Reserve Bank of India. While the foreign currency assets fell by 1.3 billion, During the week, the gold reserves dropped by 1.17 billion … Read more

India’s foreign exchange reserves fall for fifth straight week

India’s foreign exchange reserves fall for fifth straight week

India’s foreign exchange reserves continued its fall for the fifth straight week as the Reserve Bank of India appears to be selling dollars from its coffers to prevent sharp depreciation of the rupee amid a surge in global crude prices. The reserves fell by $2.471 billion in the week to April 8 to $604.004 billion, … Read more

Forex reserves decline by USD 1.425 bn on a dip in currency assets

Forex reserves decline by USD 1.425 bn on a dip in currency assets

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