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RBI Leads Global Trend As Central Banks Ramp Up Gold Reserves Amid Economic Uncertainties; Details

To fortify its foreign exchange reserves and factor in the global economic uncertainty, the Reserve Bank of India (RBI) has continued its accumulation of gold reserves. Weekly data from the RBI reveals a significant uptick, with a notable 6-tonne increase in ...

Credit Card Spend In Forex To Come Under RBI's Liberalised Remittance Scheme

Now spending in foreign exchange via international credit cards will soon be covered under the RBI's liberalised remittance scheme (LRS), under which a resident can remit money abroad up to a maximum of $2.50 lakh per annum without the authorisation of ...

India's Forex Reserve Rises To $595.98 Billion

The Reserve Bank of India on Friday released India's foreign exchange reserve number. It has grown to $595.98 billion as on May 5 due to an addition of $7.196 billion. India's forex reserves reached a 10-month-high of $588.8 billion ...

Gadkari Proposes To Use RBI's Growing Foreign Exchange Reserves To Fund Infrastructure Development

Union Road Transport and Highways minister Nitin Gadkari on Wednesday pitched for formulating a policy for using the Reserve Bank of India's rising foreign exchange reserves for funding road projects, saying the country needs low cost finance for such infrastructure projects. ...

Forex Reserves Of India Hit Fresh High Of US$608.08 Billion

As per the latest data released by RBI on foreign exchange reserves on Friday (December 18, 2021), the country's total foreign reserves climbed to an all time high of USD 6,08,081 million, rising USD 3,074 million in the week to June ...

Forex Reserves Cross USD 600 Billion Mark For First Time

The country's foreign exchange reserves crossed the USD 600 billion mark for the first time after increasing by USD 6.842 billion in the week ended June 4, RBI data showed on Friday. The reserves surged to a record USD 605.008 billion ...

Rupee Opens Unchanged At 75.53 Per US Dollar

Rupee in Wednesday's trade (July 1, 2020) opened almost flat at 75.53 versus previous close of 75.507 per US dollar. For the last four sessions, rupee has been gaining ground and for the quarter April-June stood as the third worst performing ...

Rupee Opens Strong At 75.52 Per US Dollar

Rupee in Friday's trade (June 25, 2020) opened weak by a tad bit in line with weakness in the equities. The home currency opened at 75.52 versus its previous close of 75.66 per US dollar. Easing crude oil prices ...

Rupee Trades Firm To Levels Below 75/US Dollar

Rupee in trade on April 30, 2020 traded higher at 74.97 as against the earlier 1-month high close at 75.67per US dollar. In trade ttoday, the domestic unit opened higher by 50 paise at 75.16. But the positive momentum in ...

Foreign Exchange Reserve Scales To New Record Of USD 446.098 billion

On Friday, the data released on Friday showed that due to the increase in foreign currency assets or FCAs, the country's foreign exchange jumped by USD 3.515 billion to scale a new high of USD 446.098 billion in the week to ...

India's Forex Reserve Hits All-Time High

India's foreign exchange reserve touched an all-time high of $426.42 billion after an increase of $4.215 billion in the week ended 21 June, RBI data showed. In the week before, there was a $1.358 billion decline to $422.2 billion. Earlier in ...

Buying Foreign Exchange At Spot Rate: How Good A Deal It Would Be?

Often when you visit a foreign land, you require foreign currency of that nation and in obtaining say you are required to pay a high premium price than the spot rate available in the inter-bank OTC market. And the same is ...

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