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A closer look at whether the Prime Minister’s austerity call amid rising global tensions and an oil shock is a necessary economic safeguard or a sign of deeper vulnerabilities-raising the question of whether domestic discipline can effectively shield India’s economy from global turbulence. Source link [ad_3]
As the hostilities in the Middle East stretched global supply chains and upended the oil market, Prime Minister Narendra Modi on Sunday urged citizens to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and refraining from non-essential gold purchases. Source link [ad_3]
The Reserve Bank of India i.e. RBI has withdrawn some restrictions imposed on foreign exchange dealers (Forex Dealers) on April 20 to prevent the volatility of the rupee. Now dealers will be able to take positions again in the offshore non-deliverable forward market (NDF). A few days before RBI took this step, Governor Sanjay Malhotra…
New Delhi2 hours ago copy link Yesterday’s big news was related to crude oil. Due to tension in West Asia, crude oil prices are continuously increasing in the global market. According to rating agency CareAge Global, every $10 per barrel increase in crude oil prices can increase retail inflation in India by 60 basis points…
New Delhi38 minutes ago copy link Yesterday’s big news was related to crude oil. Due to tension in West Asia, crude oil prices are continuously increasing in the global market. According to rating agency CareAge Global, every $10 per barrel increase in crude oil prices can increase retail inflation in India by 60 basis points…
India’s foreign exchange reserves declined by USD 2.699 billion in the week that ended November 7 to USD 687.034 billion, driven by a slump in both foreign currency assets and gold reserves, the Reserve Bank of India’s latest ‘Weekly Statistical Supplement’ data showed. Over the past month, the forex kitty has been in a downtrend,…
New Delhi: India’s foreign exchange reserves rose by $1.49 billion to $695.11 billion for the week ended August 15, data released by the RBI on Friday showed. The increase comes on the back of a $4.75 billion surge to $693.62 billion during the preceding week ended August 8, reflecting the stable external balance position of…
New Delhi: India’s foreign exchange reserves continue to decline, extending their slump for about four months now. The country’s forex reserves have fallen in 15 of the past 16 weeks, hitting an 11-month low. In the week ending January 17, India’s foreign exchange reserves declined by USD 1.88 billion to USD 623.983 billion, according to…
New Delhi: India’s foreign exchange reserves scaled a new high of USD 692.296 billion, jumping by USD 2.838 billion in the week that ended on September 20, as per the data released by the Reserve Bank of India (RBI) on Friday. Last week, the forex stood at USD 689.458 billion. The Forex kitty has seen…