Forex reserves jump by $168 million to $421 billion

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The country’s foreign exchange reserves rose by USD 167.8 million to USD 420.758 billion in the week to March 2 on an increase in core currency assets, the Reserve Bank of India said today.

In the previous reporting week, the reserves had declined by USD 1.13 billion to USD 420.591 billion. The reserves had touched a life-time high of USD 421.914 billion on February 9.

 

It had crossed the USD 400-billion mark for the first time in the week to September 8 last year, but has been fluctuating since then. In the week to March 2, the foreign currency assets, a major component of the overall reserves, rose by USD 177.2 million to USD 395.642 billion, the apex bank said.

 

Expressed in the US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

 

The value of gold reserves increased by USD 8.1 million to USD 21.522 billion, the central bank said.

 

The special drawing rights with the International Monetary Fund declined by USD 7.4 million to USD 1.529 billion. The country’s reserve position with IMF also declined by USD 10.1 million to USD 2.064 billion, the RBI said.

 

Source: Business Standard

 

Forex reserves rise to $421.72 bn

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India’s foreign exchange reserves rose by $1.96 billion to $421.72 billion on February 16, compared to the previous week. Foreign currency assets (FCAs), which form a key component of reserves, rose by $1.925 billion from the previous week to $396.572 billion.

India’s foreign exchange reserves rose by $1.96 billion to $421.72 billion on February 16, compared to the previous week.

Foreign currency assets (FCAs), which form a key component of reserves, rose by $1.925 billion from the previous week to $396.572 billion.

FCAs are maintained in major currencies like US dollar, euro, pound sterling and Japanese yen.

Movement in the FCAs occur mainly on account of purchase and sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets.

Gold reserves remained stable at $21.514 billion.

Special drawing rights (SDR) from the International Monetary Fund rose by $13 million from the previous week to $1.546 billion.

SDR is an international reserve asset created by the IMF and allocated to its members in proportion of their quota at the IMF.

The Reserve Position in the IMF rose by $21.7 million to $2.087 billion.

 

Source: Financial Express

Forex reserves surge by $4.1 bn to a new high of $421 bn

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India’s foreign exchange reserves swelled by USD 4.12 billion to a new high of USD 421.914 billion on a healthy increase in the core currency assets and uptick in the gold stock, the Reserve Bank said today.

 

The total reserves had risen by USD 3 billion to USD 417.89 billion in the previous reporting week.

 

The reserves had crossed the USD 400-billion mark for the first time in the week to September 8, 2017 but have been fluctuating since then.

 

However, there has been a continuous surge since the start of this year for the fifth straight week. In reporting week to February 2, foreign currency assets, a major component of the overall reserves, rose by USD 3.025 billion to USD 396.769 billion, the RBI said.

 

Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.

 

The value of gold reserves rose USD 1.092 billion to USD 21.514 billion during the week, the central bank said.

 

The country’s special drawing rights with the International Monetary Fund rose by USD 3.2 million to USD 1.547 billion, while the country’s reserve position with the Fund jumped by USD 4.3 million to USD 2.084 billion during the reporting week, the central bank said.

 

Source: Business Standard

 

Forex reserves rose to $399.533 billion as on November 17

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India’s foreign exchange reserves rose by $240.40 million as on November 17 to $399.533 billion, data from the RBI shows. Foreign currency assets, which form a key component of reserves, rose by $220.40 million from the previous week to $375.096 billion.

India’s foreign exchange reserves rose by $240.40 million as on November 17 to $399.533 billion, data from the RBI shows.

Foreign currency assets, which form a key component of reserves, rose by $220.40 million from the previous week to $375.096 billion.

FCAs are maintained in major currencies like US dollar, euro, pound sterling, Japanese yen etc.

Movement in the FCA occur mainly on account of purchase and sale of foreign exchange by the RBI, income arising out of the deployment of foreign exchange reserves, external aid receipts of the government and revaluation of assets.

Gold reserves remained stable at $20.66 billion.

Special drawing rights (SDR) from the International Monetary Fund rose by $7.9 million from the previous week to $1.497 billion.

SDR is an international reserve asset created by the IMF and allocated to its members in proportion of their quota at the IMF.

The Reserve Position in the IMF rose by $12.1 million to $2.273 billion.

Source: Financial Express

Forex reserves hit record high of $393.612 billion

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The gold reserves remained unchanged at $19.943 billion.

The country’s foreign exchange reserves rose by USD 163.8 million to touch a new life-time high of USD 393.612 billion in the week ended August 11, helped by rise in foreign currency assets (FCAs), the Reserve Bank data showed.

In the previous week, the reserves had increased by USD 581.1 million to USD 393.448 billion.

FCAs, a major portion of the overall reserves, rose by USD 175.6 million to USD 369.899 billion, the data showed.

Expressed in US dollar terms, FCAs include effect of appreciation or depreciation of non-US currencies such as the euro, the pound and the yen held in the reserves.

The gold reserves remained unchanged at USD 19.943 billion.

 

The special drawing rights with the International Monetary Fund (IMF) declined by USD 5.8 million to USD 1.498 billion.

The country’s reserve position with the IMF also dipped by USD 6 million to USD 2.271 billion, the apex bank said.

Foreign exchange reserves in India hit record high of $382 bn, grows 6% in 2017

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Foreign exchange reserves touched a record high of $381.96 billion as on June 16, compared $381.16 billion in the previous week, the Reserve Bank of India said in its weekly statistical supplement on Friday. Foreign currency assets (FCAs), the largest component of the foreign exchange reserves, increased to $358.08 billion from $357.28 billion in the previous week, central bank data showed. 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. So far in 2017, foreign exchange reserves have grown 6% and have touched record levels five times since April, as the RBI has aggressively been buying dollars to prevent a sudden jump in the rupee.

The central bank has been buying dollars on a daily basis, both in the spot market as well as in the forward market, to limit the appreciation of the local currency, which has been gaining steadily, traders said. The rupee has gained about 5% since the beginning of the year. Among other factors, strong demand for the local currency from foreign portfolio investors (FPIs) looking to invest in Indian assets has caused the rupee to appreciate. FPIs have bought Indian shares and bonds worth around $22 billion so far in 2017. Given India’s low current account and fiscal deficits, and the advantage it offers in terms of interest rate differential, traders expect the inflows to continue in the near-term.

The central bank has always maintained that it does not want to influence the exchange rate for the rupee, but would take steps, including intervention in the spot market, to curb extreme volatility. According to the latest available data, the RBI’s outstanding net forward purchases in April stood at $13.55 billion, up from $10.84 billion in the previous month. On the other hand, net purchase in the spot market dropped to $0.57 billion in April from $3.54 billion in March. The RBI publishes data on the sale and purchase of dollar with a lag of two months.

Source: http://www.financialexpress.com/economy/foreign-exchange-reserves-in-india-hit-record-high-of-382-bn-grow-6-pct-in-2017/733287/

India’s foreign exchange reserves zoom to new all-time record, touch $375.7 bn

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India’s foreign exchange reserves zoomed past their previous week’s record to touch a new high of $375.7 billion on May 5, data released by the central bank showed.

Foreign currency assets (FCAs), the largest component of the foreign exchange reserves, grew to $351.5 billion from $349.1 billion in the previous week, RBI data showed. Expressed in US dollar terms, FCAs include the effects of appreciation / depreciation of non-US currencies, such as the euro, pound and yen, held in the reserves.

India’s foreign exchange reserves zoomed past their previous week’s record to touch a new high of $375.7 billion on May 5, data released by the central bank on Friday showed. On April 28, the reserves were at $372.7 billion, the highest since September 9, 2016.

Dollar purchases by the Reserve Bank of India to ease volatility in the rupee exchange rate and increase in valuation of its assets has led to the jump in the forex reserves, traders said. The rupee has gained 5.3% against the dollar since the beginning of 2017. On April 26, it appreciated to 63.93 to a dollar, its highest level since August 10, 2015.

The central bank has always maintained that it does not want to influence the exchange rate for the rupee, but would take steps, including intervention in the spot market, to curb extreme volatility. According to the latest data available, the RBI bought $3.5 billion in the spot market on a net basis in March, while outstanding net forward sales stood at $10.8 billion during the month. The RBI publishes data on the sale and purchase of dollar with a lag of two months.

Source: http://www.financialexpress.com/economy/indias-foreign-exchange-reserves-zoom-to-new-all-time-record-touch-375-7-bn/666524/