Page 7 - Foreign Exchange

Forex reserves rise by $5 billion to lifetime high of $609 billion

Gold reserves rose by USD 365 million to USD 36.296 billion in the period under review, the data showed.

Near-term global bond market correction likely-strategists: Reuters poll

A significant global bond market correction is likely in the next three months as central bankers eye the exit door from pandemic emergency policy, according to a Reuters poll of strategists

Forex reserves rise $3.07 billion to lifetime high of $608.08 billion

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Forex has helped avert a currency run, but continuous inflow has its risks

At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks

Remitting money abroad? Do your research to avoid getting fleeced on cost

Select a player that offers complete transparency on both the transaction fee and the exchange rate it is going to levy

A no-action policy with focus on growth

'Unwinding' is unlikely to happen before the third quarter of this year even if we don't mess up in tackling a possible third wave of Covid; rate hike may have to wait for next year

RBI's forex gains enabled it to give Rs 1-trillion dividend to govt

An accounting change enabled the central bank to book gains from the sale of foreign currency against the historical weighted-average holding cost.

How to neutralise the impact of rupee weakening against the dollar

Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals

India's foreign exchange reserves drop by $2.4 billion to $576.8 billion

The country's foreign exchange reserves declined by USD 2.415 billion to stand at USD 576.869 billion in the week ended April 2, RBI data showed on Friday. In the previous week ended March 26, the reserves had decreased by USD 2.986 billion to USD 579.285 billion. The forex kitty had touched a record high of USD 590.185 billion in the week ended January 29, 2021. In the reporting week ended April 2, 2021, the decline in the reserves was mainly on account of a fall in foreign currency assets (FCA), a major component of the overall reserves. FCA declined by USD 1.515 billion to USD 536.438 billion, weekly data by the Reserve Bank of India (RBI) showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves dropped by USD 884 million to USD 34.023 billion in the reporting week, as per the central bank data. The special drawing right

Pakistan hires banks for a possible foreign currency bond offering: Report

The nation is looking to raise funds after reaching an agreement with the IMF on resumption of a $6-bn bailout program that was secured in 2019 to avoid bankruptcy

How RBI's currency operations are spiking forward premia across tenures

From about 3.5 per cent at the start of December to 6 per cent now, three-month forwards rates are most affected

Foreign exchange reserves decline by $6.24 billion to $583.94 billion

The country's foreign exchange reserves declined by a massive $6.24 billion in the week ended February 5

RBI remains net purchaser of US dollar in November, buys $10.261 bn

The Reserve Bank of India (RBI) continued to remain a net buyer of the US currency in November

US remains key forex source for India, accounts for 15-17% of goods exports

China remains the main source of India's imports, with the US at a distant fifth place

India on currency manipulation watchlist: Is that a cause for concern?

The US Treasury has, while branding Switzerland and Vietnam as currency manipulators, added India, Taiwan and Thailand to its 'Monitoring List'

India has been transparent in its forex intervention: US Treasury

The reason why India was put on the half yearly monitorin list along with nine others, was that it had a 'material' current account surplus and engaged in 'persistent, one-sided intervention'

US labels Switzerland as FX manipulator, keeps China on watch

Having removed the manipulator label from China in January, the Treasury urged the world's second-largest economy to "improve transparency" in its currency management

RoDTEP rates not decided, MEIS for exports may continue till end-March 2021

Any registered user under GST who wishes to generate IRN needs to register on e-invoice system using his GSTIN

India's forex reserves surge $4.277 bn to record high of $572.771 bn

The country's foreign exchange reserves swelled by $4.277 billion to a lifetime high of $572.771 billion in the week ended November 13, RBI data showed on Friday.

India's forex reserves up $183 mn to record high of $560.715 bn

The country's foreign exchange reserves rose $183 million to touch a record high of $560.715 billion in the week ended October 30, RBI data showed on Friday.