The ED froze Xiaomi's accounts on April 29 alleging that it has violated the Foreign Exchange Management Act (FEMA) by illegally transferring money abroad to three companies under the guise of royalty payments.
Halting its three-day winning run, the rupee on Wednesday declined by 10 paise to close at 74.59 (provisional) against the US dollar.
According to RBI weekly statistical supplement, the reserves increased to $608.081 billion from $605.008 billion reported for the week ended June 4.
India's forex reserves rose substantially by USD 5.942 billion to touch a life-time high of USD 507.644 billion in the week to June 12, helped by a significant jump in the foreign currency assets (FCA), RBI data showed.
India's forex reserves cross $500 billion markIndia's forex reserves cross $500 billion markAccording to the RBI's weekly statistical supplement, the overall forex reserves increased to $501.703 billion from $493.480 billion reported for the week ended May 29.
The country foreign exchange reserves rose by USD 58 million to reach a life-time high of USD 461.21 billion in the week to January 10, according to the RBI data. In the previous week, the reserves had increased by USD 3.689 billion to USD 461.15 billion.
Depending on the nature of services, the government gives duty credit scrips or certificates. The scheme offers reward at 5 per cent or 7 per cent of net foreign exchange earned and covers service providers located in India.
At the Interbank Foreign Exchange, the rupee opened on at 69.33 then fell to 69.38 against the US dollar, showing a decline of 4 paise over its previous closing.
China has the largest forex reserves in the world
In the reporting week, foreign currency assets, a major component of the overall reserves, increased by USD 1.055 billion to USD 376.154 billion, as per RBI data.
A senior DRI official said that during investigation, it was found that she was working with an agent, named Amit Malhotra, a resident of Vivek Vihar area in Delhi.
India's foreign exchange reserves went down by $1.13 billion to $361.99 billion as on May 6, 2016, the Reserve Bank of India (RBI) said.
Chennai: India's foreign exchange reserves increased by $1.52 billion to $363.12 billion as on April 29, 2016, the Reserve Bank of India (RBI) has said. According to the RBI's forex data, the reserves stood at
Mumbai: Buying activity by the country's central bank and the revaluation impact of global currencies swelled India's foreign exchange (Forex) reserves during the week ended January 29, experts said on Saturday.According to the Reserve Bank
Mumbai:India's foreign exchange reserves after rising for two consecutive weeks fell by $1.4 billion (nearly Rs 9,273.6 crore) to $351.106 billion (nearly Rs 23.25 lakh crore) in the week to December 18 on account of
New Delhi: India's foreign exchange reserves increased by $458 million to $353.527 billion in the week to October 16, on account of rise in foreign currency assets, according to RBI data.In the previous week, reserves
Mumbai: The rupee dropped 3 paise at 63.62 against dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.Forex dealers said fresh demand for the dollar from
Mumbai: The rupee dropped 3 paise at 63.62 against dollar in early trade today at the Interbank Foreign Exchange due to appreciation of the American currency overseas.Forex dealers said fresh demand for the dollar from
Mumbai: The rupee appreciated 25 paise to trade at 63.87 against the dollar in early trade today at the Interbank Foreign Exchange after the American currency weakened overseas amid sustained selling of the greenback by
New Delhi: The Enforcement Directorate (ED) has stepped up its probe into a foreign exchange violation case against former IPL boss Lalit Modi which involves alleged illegal routing of Rs 21 crore funds from a
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