Forex reserves at all-time high of $345 billion

[HariPrasad]

Forex reserves at all-time high of $345 billion | Business Standard News

The Reserve Bank of India (RBI)'s foreign exchange reserves rose to an all-time high of $344.61 billion for the week ended April 24, recording a week-on-week rise of $1.40 billion, according to data released on Friday.

This was a consecutive week of increase.

Foreign currency assets, a key component, rose $1.40 billion to $320.26 billion. During the week, gold reserves remained unchanged at $19.04 billion.

For the week under review, the special drawing rights rose by $0.2 million to $4.00 billion, while India's reserve position with the International Monetary Fund stood at $1.30 billion.

Forex reserves at all-time high of $345 billion | Business Standard News

 

[IND151]

Next Mark- 1 Trillion Dollar

 

[DV RULES]

Next Mark- 1 Trillion Dollar

Zee News has started..............

 

[Neutron]

Of no use

 

[Skull and Bones]

We need to diversify our foreign reserve, with yuan and ruble. Buy them on every decline.

Of no use

True, i agree.

 

[Chinese-Dragon]

That's pretty good.

 

[KIND]

Never understood the benefit of hoarding such a huge amount except off course to manipulate forex .

 

[Echo_419]

We need to diversify our foreign reserve, with yuan and ruble. Buy them on every decline.



True, i agree.

Agreed we should not rely on only one currency

 

[Skull and Bones]

Never understood the benefit of hoarding such a huge amount except off course to manipulate forex .

Forex acts as a cushion in case of global economic turmoil.

 

[Viva India]

Still the defense budget is under $50 billion

 

[Skull and Bones]

Still the defense budget is under $50 billion

Even with 50 billion budget, we are acquiring many new platforms than can be efficiently absorbed into the system. And defense budget is not the only parameter for the nation. Unofficially the budget stands at near 70 billion.

 

[Viva India]

Even with 50 billion budget, we are acquiring many new platforms than can be efficiently absorbed into the system. And defense budget is not the only parameter for the nation. Unofficially the budget stands at near 70 billion.

That includes Paramilitary

 

[IND151]

Forex acts as a cushion in case of global economic turmoil.

Exactly........

Our Forex reserve helped us between 2011-2014.

 

[Abingdonboy]

Still the defense budget is under $50 billion

Even with 50 billion budget, we are acquiring many new platforms than can be efficiently absorbed into the system. And defense budget is not the only parameter for the nation. Unofficially the budget stands at near 70 billion.

That includes Paramilitary

MoD's budget stands at around $40BN, MHA's at $10BN for the FY2015-16, both need to be increased substantially. Continuing the UPA's practice of spending <2% of GDP (around 1.8%) on defence is not something I thought the BJP would do but they have.

 

[tsinga]

MoD's budget stands at around $40BN, MHA's at $10BN for the FY2015-16, both need to be increased substantially. Continuing the UPA's practice of spending <2% of GDP (around 1.8%) on defence is not something I thought the BJP would do but they have.

BJP needs to keep defense spending low for a couple of years so money can be funneled in the economy.
This is because Congress left not only the treasury empty but also a broken economy.

Once the economy starts galloping and immediate issues are sorted out, defense spending should rise.


There is another aspect, if economy is not right, BJP wont get elected again and neither will we have money for the future.