FOREIGN EXCHANGE RESERVES
Forex reserve hits lifetime high of $462.16 billion
In the previous week, the reserves had increased by $58 million to $461.21 billion.
India banks on swelling forex kitty amid West Asia conflict
India’s foreign exchange reserves rose by $64 billion in 2019 to touch $457.5 bil...
India allows late foreign-exchange deals to lure trade home
London has overtaken Mumbai to become the top center for trading the rupee
Forex reserve rises $58 million to record high of $461.21 billion
In the previous week, the reserves had increased by $3.689 billion to $461.15 billion.
Working with India on pact against unilateral US Sanctions: Sergey Lavrov, Russia’s foreign minister
Against the background of the increasingly aggressive use of financial sanctions by the US administration, Russian policy is aimed at gradual de-dollarisation of the economy. Together with our main partners, including India, we are working on developing economic and legal mechanisms to reduce the negative impact of restrictions, asserted Russia’s foreign minister.
Forex reserves touch record high at $453 billion
Reserves rose by $2.34 billion during the week under review.
Nirmala Sitharaman urges industry to stop ‘self doubt’
Sitharaman asks India Inc to bid enthusiastically for PSUs where govt is looking to cut stake
Govt seeks industry suggestions to improve Gold Monetisation Scheme
In 2015, the government had launched the Gold Monetisation Scheme to mobilise the yellow metal held by households and institutions in the country. However, the scheme has failed to evoke good response from individuals because of lower returns and security concerns.
RBI buys net $6.93 billion in currency market in November
The RBI bought $7.46 billion and sold $530 million in the market in November
RBI says crypto not banned, but don’t bank on it
The central bank said this in a response to a petition filed by the Internet and Mobile Association of India (IAMAI), which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies. RBI said it had not banned crypto but only ringfenced regulated entities like banks from risks associated.
Forex reserve hits a new high of $451.7 billion
Since the beginning of the current fiscal, the forex kitty has gained by $38.8 billion as of December 3.
Forex reserve hits fresh record high of $449 billion
In the previous week, the reserves had increased by $441 million to reach $448.249 billion.
Forex reserve hits new record of $461.16 billion
In the previous week, the reserves had risen by $2.52 billion to $454.948 billion.
Currency hedge: RBI buys 15 tonnes of gold in Oct-Nov
Safety of its forex asset is the prime reason that central banks park foreign exchange assets in the form of gold.
Forex reserve hits fresh high of $448 billion
In the previous week, the reserves surged by USD 3.515 billion to reach USD 446.098 billion.
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