China has the largest forex reserves in the world
In the previous week, the reserves had increased by USD 728.9 million to USD 421.487 billion. The reserves had touched a life-time high of USD 421.914 billion on February 9, FY18.
The move comes after the arrest of one of the flight attendants of Jet Airways for allegedly smuggling forex worth over Rs three crore to Hong Kong.
The surge in reserves was aided by an increase in foreign currency assets, a major component of the overall reserves.
The country's forex reserves surged by USD 2.604 billion to reach an all-time high of USD 400.726 billion in the week ended September 8 on account of rise in foreign currency assets
In the previous week, the reserves had marginally declined by USD 161.9 million to USD 386.377 billion.
Expressed in US dollar terms, FCAs include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen, held in the reserves.
Foreign currency assets (FCAs), a major component of overall reserves, increased by USD 2.748 billion to USD 357.290 billion in the reporting week, RBI said.
The reserves had risen by USD 1.594 billion to USD 372.73 billion in the previous week.
The ED has issued a show cause notice to Karti Chidambaram in a case of alleged violations of the foreign exchange laws to the tune of Rs 45 crore.
New Delhi: As soon as the report stating Reserve Bank of India Governor Raghuram Rajan's refusal to continue his term at the Central Bank started doing the rounds of media, the forex market came crashing
Mumbai: The rupee continued to fall against the American currency for the third day today, slipping by another three paise to 2-month closing low at 66.80 per dollar on persistent dollar demand from banks and
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.
The country's foreign exchange reserves have risen by $333.7 million to reach a fresh life-time high of $360.250 billion in the week to April 15, the Reserve Bank of India said today.
New Delhi: In a volatile market, the rupee snapped its 2-day losing streak against the American currency by recovering four paise to 67.90 per dollar on fresh selling of dollars by banks and exporters despite
Mumbai: A strengthening rupee, buoyant equity markets coupled with a fall in dollar value boosted India's foreign exchange (Forex) kitty by $2.26 billion, experts said on Saturday.Overall, the Forex reserves stood at $353.06 billion for
New Delhi: Ruling out any ‘emergency or urgency' in getting back USD 6.5 billion oil import dues from India, Iran today proposed that a part of this corpus can be invested in Indian projects there—assuaging
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 : Recovering from a 21-month low, the rupee strengthened 10 paise to 64.16 against the US dollar in early trade today at the Interbank Foreign Exchange on selling of the American currency by exporters