Wait...
  1. Home >
  2. Export Import News >
  3. Foreign Exchange >
  4. Foreign fund inflows, weaker dollar push India’s forex reserves to record high >
  5. Foreign fund inflows, weaker dollar push India’s forex reserves to record high

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Foreign fund inflows, weaker dollar push India’s forex reserves to record high.


Date: 29-06-2019
Subject: Foreign fund inflows, weaker dollar push India’s forex reserves to record high
Foreign fund inflows and weakening US dollar have led to a rise in India’s foreign exchange reserves that touched a record high of $426.42 billion in the week ended June 21.

Data released by the Reserve Bank of India (RBI) showed the country’s foreign exchange reserves grew by $4.22 billion from $422.20 billion in the previous week. The reserves had last touched record of $426.08 billion on April 13, 2018.

“Capital reserves in the last quarter have significantly risen, supporting the build-up in forex reserves. This also reflects that the central bank mopped up excess inflows,” said Shubhada Rao, Chief Economist, YES Bank.

So far, there have been foreign fund inflows worth $11.42 billion in equities and $1.53 billion in India’s debt markets, since the start of 2019.

The foreign currency assets that also reflect changes in valuation, increased by $4.2 billion to $398.65 billion in the week ended June 21.

“Foreign investments will keep flowing into emerging markets as major central banks like the US Fed and European Central Bank have signalled lower interest rates going ahead. India will also benefit from it,” said Madan Sabnavis, Chief Economist at CARE Ratings.

Earlier this week, US President Donald Trump said he wants a weaker dollar to help boost exports after comments from ECB led to a fall in the Euro against the dollar. The dollar index, which measures the value of the greenback against a basket of six world currencies, fell by 2 percent in the past month.

The rupee ended higher at 69.03 against the dollar for the fifth consecutive session on June 28. It touched a high of 68.8 against the greenback in intraday trade. So far, the Indian currency has appreciated by 1 percent against the dollar.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 22-05-2020
Notification No. 47/2020-CUSTOMS (N.T.)
Appointment of CAA in case of in case of M/s Satnam Steels, Rajkot.

Date: 22-05-2020
PUBLIC NOTICE No. 06/2015-2020
Inclusion of Gopalpur Port, Odisha as a Port of Registration under Para 4.37 of Handbook of Procedures, 2015-2020.

Date: 22-05-2020
TRADE NOTICE NO. 12/2020-2021
Issuance of Preferential Certificate of Origin for India’s exports to Thailand and Vietnam under ASEAN-India FTA

Date: 21-05-2020
Notification No. 24/2020 - Customs
Seeks to amend notification No. 56/2000-Customs dated 05.05.2000, No. 57/2000-Customs dated 08.05.2000 and No. 40/2015-Customs dated 21.07.2015 providing for extension of last date of export by six months, for those cases where the last date of export falls between 01.2.2020 and 31.7.2020 due to the outbreak of COVID-19 pandemic.

Date: 21-05-2020
Notification No. 25/2020 - Customs
Inclusion of Gopalpur Port [INGPR1] as notified port for getting benefits under AA/ EPCG schemes and other export incentive schemes like MEIS/SEIS and other such schemes.

Date: 21-05-2020
Notification No.46/2020 - Customs (N.T.)
Exchange Rates Notification No.46/2020-Custom (NT) dated 21.05.2020.

Date: 20-05-2020
Instruction No. 06/2020-Customs
Instruction Number 06 - Customs on Requirement of Veterinary Certificate

Date: 19-05-2020
Notification No. 45/2020-CUSTOMS (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Silver- Reg.

Date: 19-05-2020
Notification No. 08/2020-Customs (ADD)
Seeks to impose anti-dumping duty on import of Sodium citrate originating in or exported from China PR for a period of further 5 years.

Date: 18-05-2020
A.P.(DIR Series) Circular No.31
Risk Management and Inter-bank Dealings – Hedging of Foreign Exchange Risk-Date of Implementation



Exim Guru Copyright © 1999-2020 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001