[ad_1] reserve Bank of India ,reserve Bank of India) Wednesday took the first step to attract Dollar Inflows amid unabated outflow of portfolio funds to avoid sinking Rupee Protect forex reserves from their lifetime lows against the US currency and rapidly depleting foreign exchange reserves when global liquidity is abundant. The central bank eased several restrictions on the flow of foreign investment, including conditions governing interest rates. foreign currency deposit by foreign Indians. The limit on External Commercial Borrowings (ECBs) under the automatic route has also been doubled. Further, foreign…
Tag: Forex
IMF: Hard currency growth in India’s forex reserves limited to just $4 billion in FY12
[ad_1] India added $ 47.5 billion to this foreign exchange reserves Last fiscal year, down almost half of the previous year. But a drill down of the data shows that about $26 billion of those incremental reserves were due for approval. special Drawing Rights From International Monetary Fund and revaluation of gold reserves. Only $4 billion worth of hard foreign currency assets were added to the forex kitty. An additional $17.7 billion in reserves was provided by the IMF SDR The allocation and the increase in the value of gold…
Forex reserves rose by $3.854 billion to $601.363 billion
[ad_1] Just a month after slipping below the Reserve Bank’s comfort level, India’s forex reserves again hit the $600 billion mark. an increase of $3.6 billion in forex asset Assisted in expanding the total stock of reserves billed as a cushion against global economic odds. foreign exchange reserves for the week ended May 27 were $601.4 billion as against $597.5 billion in the previous week, show data from reserve Bank of India, released Friday evening. The share of reserves held in gold and other International Monetary Fund-backed assets increased by…