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Even Pakistan Forex reserves are touching record levels, so whats the big deal Indians?
When US Federal reserve will start unwinding its low interest rate policy, we are likely to see an exodus of FII money from India and this will have implication on INR-USD exchange rate as dollar will appreciate. Now this scenario will make Service sector happy (their billing in in USD and more in Indian Rupee) but imports will become costly including Crude.Long time question How does it help India and common man.
We need to accumulate reserves to 500 Billion USD before some guy in middle East looses his mind and Oil prices start to rise
And china has about 4 trillion I heardIt will take us more than 10 years to reach $1 trillion foreign exchange reserve
No not really. Our CAD is well under control and unlike some economies (like Greece at this instance) we donot have any repayment problems right now.I read that we need atleast $420 billion to take care of key vulnerabilities, so $360billion is not enough.
Yes but it took close to three decades of breakneck GDP growth driven by Trade surplus.And china has about 4 trillion I heard
He had also predicted a bigger recession which might hit us anytime...by us i meant the entire world.As RBI governor Raghuram Rajan (I'm his big fan) said last year, large reserves are like War Chest to tide upon the rough times.
Raghuram Rajan Says World Economy May Be Slipping Into 1930s DepressionHe had also predicted a bigger recession which might hit us anytime...by us i meant the entire world.
KOLKATA: India's foreign exchange reserves has crossed $355 billion for the first time, Reserve Bank of India data showed.
The reserves rose $1.171 billion in the week to June 19 to $355.459 billion with the central bank intervening in the forex market to nullify the impact of steady dollar flows.
Rupee gains with strong dollar flows but this makes exports less remunerative. RBI sterilises the flow to prevent the rupee gaining sharply when it wants to keep Indian exports competitive in the international market.
RBI does not give any reason behind the weekly movement in the reserves. The rupee closed at 63.62 a dollar compared to previous Friday's 63.52.
RBI data showed that foreign currency assets rose $1.136 billion to $330.717 billion. Foreign currency assets constitute the bulk of the reserves and reflect the change in the value of reserves held in other global currencies, including the euro, pound and yen due to exchange rate movements. Gold reserves remained unchanged at $19.340 billion.
India's foreign exchange reserves crosses $355 billion for the first time - The Economic Times
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It will take us more than 10 years to reach $1 trillion foreign exchange reserve