India's forex reserves remain sizeable, which will provide some cushion, according to the report
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India's forex reserve is at a record high, and this gives confidence to international investors for investing in the Indian economy, he says
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The reserves have been rising on and off for a long time now. So far in 2024, they have risen over USD 30 billion, on a cumulative basis
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Foreign portfolio investment (FPI) flows surged in 2023-24, with net FPI inflows reaching USD 41.6 billion
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Preceding those three weeks, the Forex kitty had seen three consecutive weeks of decline
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Sanjeev Sanyal, a noted economist and a member of the Economic Advisory Council to the Prime Minister of India, taking to X on Friday, wrote that India will now hold most of its gold in its vaults.
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According to RBI, this initiative, initially introduced as a draft on January 15, 2024, has now been refined based on feedback from various stakeholders.
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Central bank norms allow full-fledged money changers to obtain their normal business requirements of foreign currency notes from other full-fledged money changers and authorised dealers in India
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According to the latest data released by the Reserve Bank of India (RBI), India's foreign currency assets (FCA), the biggest component of the forex reserves, rose by USD 3.361 billion to USD 569.009 billion
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The reserves rose by USD 3.7 billion in the reporting week but it had fallen by a total of USD 10.6 billion in the previous three weeks
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