India's foreign exchange reserves rise to five-month high of $572 billion

[kaykay]

India's foreign exchange reserves rise to five-month high of $572 billion

Reserves rose to $572 billion, the highest since early August last year. The number is higher than the earlier week - ended January 6 - at $561.58 billion. India's reserves hit a more-than-two-year low of $524.52 billion in October 2022.

economictimes.indiatimes.com

India's foreign exchange reserves rose to a five month high in the week ended January 13, according to the Reserve Bank of India's (RBI) statistical supplement released on Friday.

Reserves rose to $572 billion, the highest since early August last year. The number is higher than the earlier week - ended January 6 - at $561.58 billion. India's reserves hit a more-than-two-year low of $524.52 billion in October 2022.

The rupee marked its best trading week in two months in the week ended January 13 as it appreciated sharply on breaking out of a tight range.
The RBI has intervened occasionally in the spot and forwards market to protect the rupee, while traders have cited instances of state-run banks purchasing dollars likely on behalf of the central bank.
The country's reserve position with the IMF was also up by $86 million to $5.227 billion in the reporting week, the apex bank data showed.

 

[Skull and Bones]

Good development.

 

[kaykay]

Good development.

About 50 billion USD increase in last 2-3 months.

 

[Dalit]

One is building it's economy. The other is changing regimes.

 

[Skull and Bones]

About 50 billion USD increase in last 2-3 months.

Crude price will soften further, so probably we will touch 600 billion in the next 4-5 months.

 

[pikkuboss]

Crude price will soften further, so probably we will touch 600 billion in the next 4-5 months.

I was watching INR-USD price action for a few days. RBI again bought $10+ Billion this week, which will be published next week.

 

[Zornix]

India's foreign exchange reserves rise to five-month high of $572 billion

Reserves rose to $572 billion, the highest since early August last year. The number is higher than the earlier week - ended January 6 - at $561.58 billion. India's reserves hit a more-than-two-year low of $524.52 billion in October 2022.

economictimes.indiatimes.com

India's foreign exchange reserves rose to a five month high in the week ended January 13, according to the Reserve Bank of India's (RBI) statistical supplement released on Friday.

Reserves rose to $572 billion, the highest since early August last year. The number is higher than the earlier week - ended January 6 - at $561.58 billion. India's reserves hit a more-than-two-year low of $524.52 billion in October 2022.

The rupee marked its best trading week in two months in the week ended January 13 as it appreciated sharply on breaking out of a tight range.
The RBI has intervened occasionally in the spot and forwards market to protect the rupee, while traders have cited instances of state-run banks purchasing dollars likely on behalf of the central bank.
The country's reserve position with the IMF was also up by $86 million to $5.227 billion in the reporting week, the apex bank data showed.

How does this benefit the average citizen who is dirt poor and toiling to barely afford basic needs? quit making an *** out of yourselves with these "achievements". The fact that you are flaunting this on some Pakistani forum only shows us how truly insecure and shallow you lot are.

 

[pikkuboss]

How does this benefit the average citizen who is dirt poor and toiling to barely afford basic needs? quit making an *** out of yourselves with these "achievements". The fact that you are flaunting this on some Pakistani forum only shows us how truly insecure and shallow you lot are.

If you need aid, please ask properly instead of these cryptic languages.

 

[Zornix]

If you need aid, please ask properly instead of these cryptic languages.

Seems like someone is butthurt because you know what I said is true, LOL!

 

[undercover JIX]

I was watching INR-USD price action for a few days. RBI again bought $10+ Billion this week, which will be published next week.
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With the rate Indian economy is growing, what do you think India will cross China first or USA?

 

[Skull and Bones]

How does this benefit the average citizen who is dirt poor and toiling to barely afford basic needs? quit making an *** out of yourselves with these "achievements". The fact that you are flaunting this on some Pakistani forum only shows us how truly insecure and shallow you lot are.

I’d have explained in details what foreign reserve means for a nation, but I’m sure you came here with pre conceived intention of taking pot shots, so you be you.

 

[Zornix]

I’d have explained in details what foreign reserve means for a nation, but I’m sure you came here with pre conceived intention of taking pot shots, so you be you.

Hey, i'm not the one flaunting some meaningless achievements on a foreign forum thinking I am making others feel envious to soothe my feelings of inferiority. Playing victim here huh?

 

[Skull and Bones]

Hey, i'm not the one flaunting some meaningless achievements on a foreign forum thinking I am making others feel envious to soothe my feelings of inferiority. Playing victim here huh?

How often you see Modi going to foreign countries with begging bowl to import energy, or medicines, or food ?