India’s forex reserves have increased by USD 1.919 billion to USD 642.019 billion for the week ended October 29 on a healthy increase in the currency assets and value of gold, the Reserve Bank said on Friday. The overall reserves had declined by USD 908 million to USD 640.1 billion at the end of the … Read more
After the US treasury labeled India as a currency manipulator on and off, now IMF has also given a word of advice to the RBI on its intervention policy in the foreign exchange market. Lauding India’s policy efforts to push reserves and strengthen its external position, the multilateral agency has advised the central bank against … Read more
India’s foreign exchange reserves rose to a record $633 billion in the week ended August 27 after the International Monetary Fund (IMF) made an allocation of 12.57 billion special drawing rights (SDRs), equivalent to $17.86 billion, to the country on August 23. The fresh SDR allocation to the Reserve (RBI) follows the recent G-20 decision … Read more
India’s record more than $600 billion of foreign exchange reserves might not be good enough, as it falls short on some measures including import cover and liability outflows, according to a new research from the central bank. “While foreign exchange reserves provide cushions against unforeseen external shocks, levels are often deceptive,” Reserve Bank of India … Read more