Latest


India's forex reserves rises by $4.60 bn

  •   Sat, Feb 08 2020 09:29:36 AM

Mumbai, Feb 8 (IANS): India's foreign exchange reserves edged-higher during the week ended January 31 to touch a new record high.

The RBI's reserves rose by $4.60 billion during the week under review, official data showed on Friday.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $471.30 billion from $466.69 billion reported for the week ended January 24.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).

 

On a weekly basis, FCAs, the largest component of the forex reserves, rose by $4.32 billion to $437.24 billion, while the value of the country's gold reserves increased by $282 million to $28.99 billion.

However, the SDR value inched lower by $4 million to $1.43 billion.
  

Top Stories

M'luru: Bhandary Builders launches Patla Garden project at Dattanagar

  •   6 hours ago   

Comment on this article

  • Charles D'Mello, Pangala

    Sat, Feb 08 2020

    Within a month it will come to zero.......Because of the new NRI defining rule 0f 240 days...instead of 182 days........!!!!!!!!! ??????????

    DisAgree Agree [2] Reply Report Abuse

  • smr, Karkala

    Sat, Feb 08 2020

    Finance Minister Nirmala Sitharaman said that according to the Reserve Bank of India, PSBs reported 5,743 incidents of fraud involving a total amount of Rs 95,760.49 crore from April 1 to September 30. Post Nirav Modi, PNB had posted staggering loss of Rs 13,416.91 crore for the fourth quarter 2017-18, the biggest ever by any domestic lender. PNB said the bank has identified around 159 accounts worth Rs 17,800 crore for sale to asset reconstruction companies.

    Not even single Rupee has been recovered by the PM Modi government since 2014 BJP government came to power as promised in the election manifesto. Instead of recovering every government institution has been privatized or went on losses.

    India's Forex reserves rise is nothing but rerouting of looted money by the capitalist from the tax free heavens as new business venture of the tax payers own money from the looted banks under the watchful eyes of the 'chowkidhar'.

    Let's not forget India retains top position in remittances with $80 billion from NRI.

    Jai Hind

    DisAgree [3] Agree [5] Reply Report Abuse

  • S H Mangalpady, Dubai

    Sat, Feb 08 2020

    Dear All

    It is so pleasing and happy to know that the Forex reserves have increased. This will help in making our currency stronger.

    Our honorable PM and FM would be aware that apart from exports it is the NRI's who bring a good quantity of Forex to India by remittances. The NRI's should be given additional privileges in taxes, education of children and loans for property purchase as they are the one's who support the Indian economy to be strong by bringing in the Forex and also spending the same in India which helps development in India.

    Currently NRI's are treated as Not Required Indians by all in India than Non Resident Indians. Even direct taxes have been proposed on NRI's .

    I request our Finance Minister to consider the request of NRI's to be given tax reliefs after they come to India with their life savings and provide the right atmosphere and opportunity for them to invest in India, or else the NRI's will be invest the same money in teh countries of their residence. This would be great loss for the Indian Forex and economy.

    Hope you would consider the NRI's humble request in the best interest of our country and citizens.

    DisAgree [4] Agree [10] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Sat, Feb 08 2020

    USD should have become Cheaper ...

    DisAgree [12] Agree [6] Reply Report Abuse

  • Shankar, Mangaluru

    Sat, Feb 08 2020

    Jossey, forex reserves are always expressed in USD!

    DisAgree Agree [18] Reply Report Abuse

  • Rolf, Dubai

    Sat, Feb 08 2020

    According to Bakath nalin Kumar 1 $ 10 Rs .

    DisAgree [7] Agree [5] Reply Report Abuse

  • munna, udupi

    Sat, Feb 08 2020

    But year leader taking only Thailand Currency

    DisAgree [3] Agree [14] Reply Report Abuse

  • Deshbhakht, Mangalore

    Sat, Feb 08 2020

    In what currency your friend paid for the biriyani when he gate-crashed on the birthday party ?

    DisAgree [7] Agree [5] Reply Report Abuse

  • samme, Mangalore

    Sat, Feb 08 2020

    He is a Pure Vegetarian

    DisAgree Agree [4] Report Abuse


Leave a Comment

Title: India's forex reserves rises by $4.60 bn



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like