Mumbai, March 6 (IANS) India’s foreign exchange reserves surged by $4.885 billion to an all-time high of $728.494 billion in the week ended February 27, data released by the Reserve Bank of India (RBI) showed on Friday.The previous all-time high for the country’s foreign exchange kitty was $725.727 billion, which was seen in mid-February.Foreign currency assets, a major component of the reserves, stood at $573.125 billion during the week. Expressed in dollar terms, the foreign currency assets …
Latest Remittances News & Updates
New Delhi, March 5 (IANS) Escalating conflict in the Middle East could only cause minimal rupee depreciation and disruption in growth while defence stocks and precious metals could rally, a report said on Thursday.The report from asset management firm Shriram Wealth said a 10 per cent rise from RBI’s baseline assumption of crude oil price could lift inflation by 30 bps but weaken the rupee and growth minimally.The same could cut growth by 15 bps, while a 5 per cent rupee depreciation could raise…
Mumbai, Feb 20 (IANS) India’s foreign exchange reserves increased by $8.663 billion to an all-time high of $725.727 billion in the week ended February 13, according to data released by the Reserve Bank of India (RBI) on Friday.Foreign exchange reserves had declined by $6.711 billion in the previous week due to a fall in gold prices.According to RBI data, the value of gold reserves, a key component of foreign exchange reserves, increased by $4.990 billion to $128.466 billion in the week ended Feb…
New Delhi, Feb 9 (IANS) Pakistan’s growth in 2025 remained modest, unemployment stayed high and youth unemployment rose, underscoring weak productivity and poor job creation, according to an article in East Asia Forum.The country’s economic growth was modest at around 3 per cent in fiscal year 2024–25, barely keeping pace with population growth, while unemployment remained high at 8 per cent. Sustained growth of 6–7 per cent is necessary to absorb new labour market entrants and reduce un…
Mumbai, Feb 6 (IANS) Despite global uncertainties, India’s foreign exchange reserves surged by $14.361 billion in the week ended January 30, reaching an all-time high of $723.774 billion, according to data released by the Reserve Bank of India (RBI) on Friday. In the previous week, the reserves had increased by $8.053 billion. The increase in foreign exchange reserves is primarily attributed to a rise in gold prices.According to the Central Bank data, the value of gold reserves, a key component …
New Delhi, Feb 6 (IANS) Over the last decade, Pakistan-occupied Kashmir (PoK) has experienced persistent economic stagnation and a major contributor to economic deceleration, which is getting worse, is the region’s growing fiscal vulnerability, a report has said.According to the report in European Times, the deepening economic stagnation in PoK is marked by “slowing growth, rising unemployment, rising poverty, and shrinking development spending”.In 2020, public development spending account…
Dhaka, Feb 4 (IANS) As Bangladesh heads to elections next week, Bangladesh Nationalist Party (BNP) Chairman Tarique Rahman, in an exclusive interview with a leading current affairs magazine, accused the Muhammad Yunus-led interim government of failing to restore law and order. Citing experts’ opinion, he warned that failure to address the law and order situation could push the country towards long-term instability.In an interview with The Diplomat, Rahman said, “After August 5, the interim gover…
New Delhi, Feb 2 (IANS) The Pakistan government has become addicted to IMF borrowing much like a drug addict and refuses to extricate itself from the self-made problem of creating cycles of foreign exchange shortages and bare sufficiency with IMF loans, according to a new report.These are accompanied by fiscal profligacy as seen in the government’s inability to contain needless expenditures and raise sufficient revenues to keep its debt at sustainable levels, according to an article by former …
New Delhi, Jan 31 (IANS) More than 7.6 lakh Pakistanis left the country for work in 2025, a figure that highlights the growing economic stress and lack of job opportunities at home, according to the data by finance ministry’s Monthly Economic Update and Outlook for January 2026.The report showed weak performance in key areas such as exports, foreign direct investment (FDI) and overall growth.However, remittances stand out as the only strong contributor. Remittances rose to $19.7 billion in the…
New Delhi, Jan 31 (IANS) The current regime in Pakistan is outdoing even those that preceded it in accumulating short-term debt, promoting conspicuous consumption, and engaging in resource grabs, a new report has said.There is actually a bigger gap between how the ruling class projects its ‘successes’ and the actual conditions of working people than the inordinate focus on foreign remittances, says the report in Dawn.As per figures, remittances reached a record high of $34 billion in 2024 –…