The country's reserves were $545.65 billion at the end of the previous week. Reserves have now fallen for eight straight weeks and are near their lowest levels since August 2020.
In January 1st week, India had forex reserves worth $633 bn, indicating a fall of over $82 billion so far. Forex depletion means RBI's been selling dollars to tackle falling rupee.
RBI hopes to boost forex inflows and stem rupee slump. But rupee likely to remain under pressure amid tighter global financial conditions & interest rate hikes by US Fed.
The Ukraine war has exposed the imbalance in the global financial system run primarily by the West. When the West decides the course of a currency, others must take it as given.
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RBI allowed lenders to offer derivative products this month. Banks like ICICI Bank & Axis Bank sold barrier forex options to customers including Reliance Industries & Supreme Petrochem.
QuickTrade works under Financial Services Conduct Authority guidelines and as its client, you enjoy unlimited leverage offered by South Africa, which is one of the last regulatory centers to do so.
According to the Reserve Bank of India's weekly data, the increase in foreign exchange reserves was due to the surge in foreign current assets (FCA) that rose by $463 million.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
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