New Delhi, June 5 (IANS) Industry chamber ASSOCHAM on Friday praised Reserve Bank of India’s decision repo rate pause as steps to support trade and industry, as stable rate shields growth from supply‑side shocks.Nirmal Kumar Minda, President, ASSOCHAM said stable interest rates “will support demand and potentially benefit investments, consumption, employment, and overall economic growth.”The “well-calibrated measures by the RBI will create a promising approach to growth and to control inflat…
Latest Foreign Exchange Reserves News & Updates
Mumbai, June 5 (IANS) India’s foreign exchange reserves rose by $938 million to $682.321 billion in the week ended May 28, reversing the decline recorded in the previous week, according to data released by the Reserve Bank of India (RBI) on Friday.The country’s forex reserves had fallen by $7.511 billion to $681.384 billion in the preceding reporting week.Despite the recent volatility, India’s reserves remain among the highest globally, although they are below the record high of $728.494 billion…
New Delhi, June 3 (IANS) The government on Wednesday dismissed claims that the Reserve Bank of India (RBI) sold gold worth around $12 billion, calling a media report fake.In a post on X, the Press Information Bureau (PIB) Fact Check unit rejected claims that the RBI had offloaded a significant portion of its gold reserves, citing official data released by the central bank.“According to RBI, the share of gold in India’s foreign exchange reserves rose from 13.92 per cent at the end of Septembe…
New Delhi, May 30 (IANS) India’s macroeconomic position in the month of May reflects cautious resilience over strong services exports, adequate foreign exchange reserves and a stable labour market, Finance Ministry said in its ‘Monthly Economic Review’ on Saturday.However, the confluence of elevated global energy prices, a depreciating rupee, rising upstream cost pressures and the prospect of a below-normal monsoon calls for sustained policy vigilance, the Economic Review said. “Navigating FY2…
New Delhi, May 24 (IANS) Pakistan’s rising food import bill is emerging as a major threat to the country’s fiscal stability and economic resilience, exposing deep structural weaknesses in its agricultural and governance systems, a report has said. Latest trade data for the first 10 months of FY2025-26 showed that Pakistan’s food imports surged by 13.81 per cent to $7.848 billion, while exports of raw food products declined by more than 32 percent to $4.19 billion, according to the Business…
Mumbai, May 22 (IANS) The Reserve Bank of India (RBI) Central Board is meeting on Friday to finalise its transfer of surplus funds to the government under the revised Economic Capital Framework, with economists estimating the dividend to surpass last year’s record payout of Rs 2.69 lakh crore.Analysts from Bank of Baroda and Emkay estimate the dividend to range Rs 2.8 lakh crore and Rs 3.3 lakh crore.The windfall non-tax revenue will provide a major boost to Government finances that will help …
Mumbai, May 21 (IANS) The Reserve Bank of India (RBI) is likely to transfer a record surplus dividend to the government for FY26, with the payout estimated between Rs 2.7 lakh crore and Rs 3.5 lakh crore, a report has said.NDTV Profit reported that the RBI board is scheduled to meet on Friday to consider the surplus transfer.If approved at the upper end of estimates, this would mark the highest-ever dividend payout by the central bank to the government.Last year, the RBI had transferred a record…
Mumbai, May 20 (IANS) The Reserve Bank of India on Wednesday announced that it will conduct a USD/INR buy-sell swap auction worth $5 billion on May 26 to inject liquidity into the banking system amid evolving market conditions.According to the central bank, the auction will be conducted for a tenor of three years and is scheduled to take place between 10:30 a.m. and 11:30 a.m. on May 26.The near-leg or spot settlement date has been fixed as May 29, 2026, while the far-leg maturity date will be M…
Mumbai, May 15 (IANS) India’s foreign exchange reserves rose sharply by $6.295 billion to $696.988 billion during the week ended May 8, mainly driven by a significant increase in gold reserves, according to data released by the Reserve Bank of India on Friday.The latest rise comes after the country’s forex reserves had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s foreign exchange reserves had earlier touched a record high of $728.494 billion in the …
New Delhi, May 15 (IANS) Gold is very much the topic of conversation following Prime Minister Narendra Modi’s call urging Indians to refrain from buying it for some time.In India, gold is a financial asset as well as linked with social, cultural, and religious traditions. Purchases are culturally important in India, but they are also import-heavy. Asking households to delay buying gold is a direct way to trim the outflow of foreign exchange without significantly touching taxes or subsidies, whic…