December 30, 2024 New Delhi, India Rupee Analysis The Indian rupee dropped by 5 paise to a new record low of 85.53 against the US dollar in early trade on Monday, reflecting continued pressure on the currency. This depreciation comes on the back of a significant decline in India’s foreign exchange reserves, which fell by…
December 23, 2023 New Delhi, India India’s Forex Reserves Reach New Heights In a noteworthy economic development, India’s foreign exchange reserves have surged to a 20-month high, reaching $615.97 billion as of December 15. This marks the fifth consecutive week of growth, with a substantial increase of $9.1 billion reported in the latest week. Let’s…
December 19, 2023 New Delhi, India In the ever-evolving landscape of currency markets, the USDINR pair is navigating through a series of influences, showcasing a dynamic interplay between global and domestic factors. Renewed USD Demand and INR Performance: Recent market movements reveal a tug-of-war between USD and INR. The Indian Rupee experienced a temporary surge,…
December 8, 2023 New Delhi, India In a significant economic development, India’s foreign exchange reserves have surged beyond the $600 billion mark, marking a resilient financial landscape. The latest figures, as of December 1, 2023, reveal that the reserves stand at USD 604 billion, reflecting a notable increase from the previous week’s USD 597.935 billion….
The dollar experienced a downward slide on Thursday as traders interpreted the unexpectedly slow U.S. inflation as an indication that interest rate hikes in the United States would likely be halted by the end of the month. Date: July 13, 2023 Place: New Delhi, India Recent U.S. data revealed a much slower pace of inflation…
In a recent announcement, Russia’s finance ministry has revealed its decision to reduce the volume of daily foreign exchange (forex) sales in the upcoming month. This strategic move aims to manage the country’s economic stability amidst Western sanctions and lower oil and gas revenues. Date: July 05, 2023 Place: New Delhi, India Between July 7…
Date: May 23, 2023 According to recent data released by the Reserve Bank of India (RBI), Indians have witnessed a remarkable surge in foreign currency spends, reaching an all-time high of $27.1 billion in FY23, a staggering increase of $7.5 billion compared to the previous fiscal year. The primary driver behind this surge has been…
May 20, 2023 India’s forex reserves are considered a vital indicator of economic stability and play a crucial role in maintaining the country’s financial health. Recognizing the importance of strong forex reserves, the Indian government has implemented several initiatives aimed at boosting reserves, encouraging exports, attracting foreign direct investment (FDI), and reducing imports. These measures…
Something you should be aware of on Thursday, April 13 is as follows: The US Dollar is struggling to find demand early on Thursday after suffering significant losses versus its key competitors on Wednesday due to weak inflation data. The US economic docket will include the US Department of Labor’s weekly initial jobless claims data…
MUMBAI: The Reserve Bank of India reported on Friday that India’s foreign exchange reserves increased by $5.977 billion to $578.778 billion in the week ending March 24, marking the second consecutive weekly gain.The total kitty increased by $12.8 billion to $572.8 billion during the previous reporting week.It should be mentioned that the nation’s foreign exchange…
