India’s foreign exchange reserves (forex) recorded a massive drop, according to official data released by the Reserve Bank of India. They fell by USD 9.32 billion to USD 688.871 billion in the week ended August 1, it added. In the latest monetary policy meeting, RBI Governor Sanjay Malhotra said that the foreign exchange reserves are…
India’s foreign exchange reserves declined by USD 1.18 billion to USD 695.49 billion in the week ended July 18. This marks the third consecutive week of decline, according to official data released by the Reserve Bank of India (RBI). In the last week under review, the country’s foreign exchange reserves had declined by USD 3.06 billion to USD 696.67…
The Reserve Bank of India’s record dividend payout of nearly Rs 2.7 trillion to the government has been made possible due to robust gross dollar sales, higher foreign exchange gains, and steady increases in interest income, according to a report by the State Bank of India (SBI). The report noted that this significant surplus transfer…