Sunday, 27 November, 2022
TopicForex reserves

Topic: Forex reserves

RBI’s 2013 playbook to rebuild forex reserves unlikely to work, say analysts

These reserves have declined to $110 billion from a peak of $642 billion in September last year, largely due to the fall in the value of holdings in dollars & other currencies.

Blaming Newton’s curse for plunging rupee & ‘gloves are off’ in Tharoor-Gehlot tussle

The best cartoons of the day, chosen by the editors at ThePrint.

Indian Rupee opens at record low of 81.09 versus US dollar; biggest single-day fall since Feb

India's forex reserves have been consistently depleting for the past few months, on account of RBI's likely intervention in the market to defend the depreciating rupee.

Rupee-rouble romance was for Soviet era. Not trade option now for India-Russia

India looking at 'several options' to do business with Russia in light of the economic sanctions slapped on the country by the US and the European Union over its war on Ukraine. 

How Sri Lanka’s overnight flip to total organic farming has led to an economic disaster

President Gotabaya Rajapaksa was forced to impose an economic emergency on 31 August to contain soaring food inflation, and currency devaluation and forex reserves crisis.

Forex reserves surge by $16.66 to record high of $633.55 billion in August

The surge was due to an increase in special drawing rights holdings, RBI data showed. IMF made an allocation of SDR 12.57 billion to India in August this year.

Forex reserves decline by $2.47 billion to $616.89 billion in August

The decrease in the reserves was due to a drop in the foreign currency assets (FCAs), a major component of the overall reserves, RBI data showed.

How Narasimha Rao and Manmohan Singh rescued India in 1991 and made history

The reforms were undertaken exactly 30 years ago, at a time when India was facing its worst economic crisis. Here’s a look at what led to the crisis and how India weathered it.

5 reasons why India needs to add to its record foreign exchange reserves of $608 billion

The hoard may help reassure investors and credit-rating companies about the Modi government’s ability to meet its debt obligations despite a deteriorating fiscal outlook.

Why RBI’s hoarding of forex reserves over currency concerns will be counter-productive

RBI’s dollar reserves now stand at $608 billion, making India the fifth-largest reserve holding country in the world.

On Camera

YourTurn

Representative image | Pixabay

Apple revolutionised smartwatch. Then came the budget wave and more—AmazFit, Fitbit to Samsung

The Fitbit Versa 4 and Sense 2 are good options for fitness fiends who want a smartwatch for fitness tracking only, while Garmin is great for extreme sports enthusiasts.
Representative image | Reuters

GameFi is revolutionising global NFT market. Here’s how crypto regulations could shape it

GameFi is the intersection of gaming and finance in an environment driven by use of blockchain, non-fungible tokens and smart contracts.

Defence

Illustration: Soham Sen | The Print

Modi govt moves with Arunachal Frontier Highway, among India’s ‘toughest’ projects yet, China in mind

The 2,000 km-long highway will be of strategic importance to military. Same equipment used on other side of LAC being deployed to carry out work on tough terrain, say officials.

A Gujarat gamble: A likely reason Rahul is not giving Modi a fight this assembly election

I'd rather not buy idea that Rahul's holding his fire until 2024. More likely, Congress believes Karnataka offers best chance of winning a Gujarat-sized state if Gujarat is too challenging.