Page 3 - Foreign Exchange Reserves

Rupee loses 10% vs USD over a year, FX reserves fall to near 2-yr low

The rupee has depreciated 9.7 per cent against the dollar since September 2021

Forex reserves shrink faster than under 2008 global crisis, taper tantrum

BoP deficit, longer US tightening cycle may lead to slower pace of RBI intervention

Govt's intervention to protect rupee takes large bite from record reserves

While economists and the Reserve Bank of India aren't ringing any alarm bells just yet, investors are watching closely given the rupee's slump to an all-time low last month

Stagflation-free Asia leaving taper tantrums behind as currencies fare well

The foreign-exchange stockpiles Asian economies built up have helped cushion the impact of this year's market turmoil, which has spurred the largest equity outflows for at least a decade.

Dwindling foreign exchange reserves spells risk for EM currencies

Thailand saw the biggest drop in reserves as a percentage of the gross domestic product, followed by Malaysia and India, according to data compiled by Bloomberg

India's foreign exchange reserves fall to lowest in 23 months

RBI's defence of the rupee cited as reason

Top headlines: Indian forex reserves, Kharif rice production, and more

Foreign exchange reserves declining to government making first disbursement under PLI scheme, here are the top headlines of the day

India has ample forex to withstand pressure on creditworthiness: S&P

India has built up buffers against cyclical difficulties and has ample foreign exchange reserves to withstand pressure on credit worthiness, S&P Global Ratings said on Thursday. Speaking at the India Credit Spotlight 2022 webinar, S&P Sovereign & International Public Finance Ratings Director Andrew Wood said the country has a strong external balance sheet and limited external debt, making debt servicing not so expensive. "The country has built up buffers against cyclical difficulties like those, which we are experiencing right now," Wood said. He said the rating agency does not expect the near-term pressures to have a serious impact on India's credit worthiness. "We are expecting a strong level of GDP growth of 7.3 per cent this fiscal," he said, adding the rupee exchange rate movement against the US dollar has been moderate. The rupee has depreciated about 7 per cent against the US currency this year but has performed better than its emerging market peers. Wood said India

Pak mulls taking upfront cost of CPEC projects to boost forex reserves

Pakistan is reviewing a proposal to receive upfront 20 per cent of the total cost of five China-Pakistan Economic Corridor (CPEC) projects as deposits in the central bank in a bid to get breathing space amid declining foreign exchange reserves, a media report said on Sunday. The proposal has been discussed at the highest level as Prime Minister Shehbaz Sharif has given instruction to further fine-tune it, a Cabinet minister told The Express Tribune. He said that at least five CPEC projects were discussed during a meeting, having a total estimated value of USD 7 billion. Under the proposal, Pakistan can receive at least USD 1.4 billion in its central bank out of the total cost of USD 7 billion. In return, these five projects that are facing years of delay will be put on the fast track for implementation. Pakistan's gross official foreign exchange reserves have dipped below USD 8 billion and will get a USD 1.2 billion boost by the end of this month once the International Monetary Fun

Foreign exchange reserves fall $2.24 bn to $570 bn; FCA dips to $506.9 bn

The country's foreign exchange reserves fell USD 2.238 billion to USD 570.74 billion in the week ended August 12, according to the Reserve Bank of India (RBI) data. In the previous week ended August 5, the foreign exchange reserves declined USD 897 million to USD 572.978 billion. The fall in the reserves in the reporting week ended August 12 was on account a decline in the Foreign Currency Assets (FCA), a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI on Friday. FCA declined USD 2.652 billion to USD 506.994 billion, the data showed. Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves surged USD 305 million to USD 40.618 billion. The Special Drawing Rights (SDRs) increased USD 102 million to USD 18.133 billion. The country's reserve position with IMF also rose by USD 7 million to USD 4.994 billion

Foreign exchange reserves fall $897 mn to $572.98 bn in week ending Aug 5

India's foreign exchange reserves fell $897 million to $572.978 billion in the week ended August 5, according to the Reserve Bank of India's (RBI) bulletin weekly statistical supplement

Rupee won't go into free-fall even if CAD widens to 3-3.5%: BoA's Mehta

RBI needs to be fourth buyer in the bond market, says senior executive

As rupee continues to slide, RBI may be back to spot intervention

Reserve Bank of India's foreign-exchange reserves have fallen by about $30 billion since the end of May to $573 billion, according to its data

India's foreign exchange reserves drop $7.5 billion to $572.7 billion

Foreign exchange reserves depleted around $70 billion from its peak in September 2021

India's non-oil exports to Nepal fell 13% to $943 mn in April-May

Himalayan neighbour bans imports of non-essentials amid depleting forex; dip could impact India's FY23 trade deficit which is already worsening on fears of recession in developed countries

Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low

The country's foreign exchange reserves had declined by $8 billion in the week ended July 8 to hit a 15-month low of $580.25 billion as RBI stepped intervention in the forex market

How the RBI is creating conditions for foreign flows to come back to India

The RBI announced five measures on July 6 to further liberalise foreign exchange. The measures are aimed at creating a more enabling environment to attract dollars through banking deposits, ECB, FPI

CAD as percentage of GDP: Nowhere near 2012-13 level, yet worrisome

If up to $50 billion is withdrawn from forex reserves to finance CAD, the country would still be able to meet nine month's imports. Any withdrawal beyond this could pose a problem

Taper tantrum playbook key for RBI as rupee continues slide to record lows

The rupee has declined almost 7% this year, bringing back memories of the selloff nearly a decade ago, when fiscal and current account deficits also widened

Asian countries in talks for settling trade in domestic currencies

Countries to accept trading partners' currency; move aimed at reducing dollar dependence