Foreign Currency reserves at record high of 359.917 Billion USD

[Ankit Kumar 002]

Mumbai: The Reserve Bank said Friday the country's foreign exchange reserves for the week ended April 8 all-time record high of $ 15.74 million to $ 359.917 billion reached. The country's foreign exchange reserves to $ 4.2 billion in the previous week's sharp rally had touched a high of 359.759 billion.

The Reserve Bank of India (RBI) said in a statement that the important part of the week, total foreign exchange reserves in foreign currency assets (FCA) fell by 15.93 million to $ 335.845 billion. Foreign currency assets expressed in US dollar reserves to be kept in the euro, pound and yen currencies such as the dollar, with the exchange rate volatility also affects foreign Reserves. However, gold reserves remained unchanged at $ 20.115 billion.

According to RBI data the week, the massive increase in foreign exchange reserves in the International Monetary Fund (IMF) special drawing rights in the country declined by over nine million dollars, 1.501 billion. Foreign Currency $ 10 million per country in the IMF fell by $ 2.455 billion.

PS:- Translated to English.

http://zeenews.india.com/hindi/busi...se-to-all-time-high-of-359-917-billion/288710

 

[Ankit Kumar 002]

List of countries with foreign currency reserves excluding Gold
1.PRC => 3.345 Trillion USD
2. Japan => 1.207 Trillion USD
3.Saudi Arab => 616 Billion USD
4.Switzerland => 567 Billion USD
5.Taiwan => 426 Billion USD
6.South Korea => 363 Billion USD
7. India => 360 Billion USD
-- Hong Kong => 358 Billion USD
8.Brazil => 354 Billion USD
-- EuroZone => 334 Billion USD
9.Russia => 320 Billion USD
10.Singapore => 247 Billion USD

IMF Estimates as of March 2016

 

[Grevion]

It is still not sufficient we should have atleast 2 trillion USD as foreign reserve for a country with as big a population as India. But that will come as the economy grows.

List of countries with foreign currency reserves excluding Gold
1.PRC => 3.345 Trillion USD
2. Japan => 1.207 Trillion USD
3.Saudi Arab => 616 Billion USD
4.Switzerland => 567 Billion USD
5.Taiwan => 426 Billion USD
6.South Korea => 363 Billion USD
7. India => 360 Billion USD
-- Hong Kong => 358 Billion USD
8.Brazil => 354 Billion USD
-- EuroZone => 334 Billion USD
9.Russia => 320 Billion USD
10.Singapore => 247 Billion USD

IMF Estimates as of March 2016

I still dont understand how China has a massive foreign reserve of over 3 trillion dollars. Their exports have really caused them supernormal profits over the last 10 years.

 

[Ankit Kumar 002]

It is still not sufficient we should have atleast 2 trillion USD as foreign reserve for a country with as big a population as India. But that will come as the economy grows.

I still dont understand how China has a massive foreign reserve of over 3 trillion dollars. Their exports have really caused them supernormal profits over the last 10 years.

In next few years with an improving economy our reserves should be in upwards of 500 billion mark. After that the race begins.

Even look at Hong Kong and Taiwan. So small yet so powerful!

I have used the ranking without gold reserves, if I add it, India goes 2 rank down as Eurozone has huge gold holdings and so does Russia.

 

[Max Pain]

List of countries with foreign currency reserves excluding Gold
1.PRC => 3.345 Trillion USD
2. Japan => 1.207 Trillion USD
3.Saudi Arab => 616 Billion USD
4.Switzerland => 567 Billion USD
5.Taiwan => 426 Billion USD
6.South Korea => 363 Billion USD
7. India => 360 Billion USD
-- Hong Kong => 358 Billion USD
8.Brazil => 354 Billion USD
-- EuroZone => 334 Billion USD
9.Russia => 320 Billion USD
10.Singapore => 247 Billion USD

IMF Estimates as of March 2016

woah!
The Chinese Figure is Riddiculously high.
Im impressed.

 

[Ankit Kumar 002]

woah!
The Chinese Figure is Riddiculously high.
Im impressed.

Also look at Hong Kong and Macau which is not in the list but hold great amount too.

 

[itachii]

more or less indian foreign reserves stayed stayed in the range of 340-360 bn $ for last couple of years.. I am waiting for india to cross 400 bn $..

 

[Ankit Kumar 002]

more or less indian foreign reserves stayed stayed in the range of 340-360 bn $ for last couple of years.. I am waiting for india to cross 400 bn $..

We had recently overtook Hong Kong. So in the couple of years , we should be ready to give competition to Taiwan.