The country's foreign exchange reserves rose by USD 1.701 billion to a lifetime high of USD 473 billion in the week to February 7 on account of increase in foreign currency assets, according to RBI data. In the previous week, the foreign exchange reserves had swollen by USD 4.607 billion to USD 471.3 billion.
The rupee on Thursday settled flat at 71.33 (provisional) against the US dollar after weak macro-economic data disappointed market participants. Forex traders said disappointing macro economic numbers and weak domestic equities weighed on the local unit
The Indian rupee moved up by 13 paise to close at 71.25 against the US dollar on Tuesday as forex market participants gauged improved sentiment in global markets amid efforts to contain deadly coronavirus. The Indian currency was also supported by Brent crude prices at lower levels and foreign fund inflows into domestic equities.
The country's foreign exchange reserves touched a record high of USD 461.157 billion, after it surged by USD 3.689 billion in the week to January 3, according to the RBI data.
The financial year 2018-19 saw a handsome Rs 91.63 crore spike in India's foreign exchange earnings from launching of foreign satellites.
In the reporting week, the rise in reserves was mainly on account of an increase in foreign currency assets, a major component of the overall reserves, which rose by USD 2.642 million to USD 419.367 billion, according to the data.
India's forex reserves rose by USD 441 million to a fresh lifetime high of USD 448.249 billion in the week to November 15 on an increase in core currency assets, RBI data showed on Friday.
The country's foreign exchange reserves surged by USD 4.24 billion to touch a record high of USD 437.83 billion in the week to October 4, according to the latest data from the Reserve Bank of India.
The rupee depreciated by 14 paise to close at 71.02 against the US dollar on Monday as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.
The foreign exchange reserves touched a record high of USD 434.6 billion as on October 1. While announcing fourth bi-monthly monetary policy, the RBI Governor Shaktikanta Das said as of October 1 the forex kitty peaked to the record high. Between April and October 1, the country's forex reserves had increased by USD 21.7 billion.
Gold on Monday climbed Rs 460 to Rs 38,860 per 10 gram in the national capital on a weak rupee and higher oil prices, which led to investors opting for safe haven commodities, according to HDFC Securities.
A detailed search of the passengers and their baggage resulted in recovery of euros 1,52,000, equivalent to Rs 1.27 crore, the officials said.
Two men have been arrested by customs officials at Delhi airport for allegedly smuggling gold and forex worth lakhs by concealing them in rectum in two separate cases, officials said Monday.
At the interbank foreign exchange, the domestic unit opened almost flat at 69.70 against the dollar and then it strengthened by 5 paise to quote at 69.67 in early trade.
India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's position with the International Monetary Fund (IMF).
India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's position with the International Monetary Fund (IMF).
China has the largest forex reserves in the world
Customers can load up to $250,000 in a financial year into the forex card and buy up to $3,000 as currency notes
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.
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