India forex reserves

Synopsis Snapping a two-week falling streak, India's foreign exchange reserves saw a rise of $5.929 billion and stood at $595.067 billion as on June 2, 2023, as per Reserve Bank of India data. India's foreign currency assets, the biggest component of the forex reserves, rose by $5.270 billion to $526.201 billion. Also, the forex reserves had fallen largely because of the RBI's intervention in the market to defend the depreciating rupee against a surging US dollar. Typically, the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee. The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. Vodafone Idea Ltd (Vi) proposes to infuse a total equity of ₹14,000 crore in the near term as part of its business revival plan, said people with knowledge of ongoing discussions. This will see existing promoters Aditya Birla Group (ABG) and UK’s Vodafone Group Plc infuse half the overall amount, they said. As many as 205 managers at Hindustan Unilever Ltd (HUL) took home more than Rs 1 crore in annual salary in FY23, up 25% from 163 in FY22. However, just a third of executives who drew eight-digit salarie...

Supplementary notes *Data is provisional and until December 2021. India's financial year begins in April and ends in March. For example, FY 2022 started in April 2021 and ended in March 2022. One Indian rupee is equal to 0.012 euros and 0.013 dollars (as of August 2022). Values have been rounded for clarity. The most important statistics • Gross domestic product (GDP) in India 2028 • Gross domestic product (GDP) growth rate in India 2028 • Gross domestic product (GDP) per capita in India 2028 • Value of PFCE in GDP at current prices India FY 2012-2022 • Value of GFCE in GDP at current prices India FY 2012-2022 • Value of GFCF in GDP at current prices India FY 2012-2022 • GVA distribution in India FY 2022, by sector The most important statistics • Number of employees in major sectors India FY 2021 • Number of employees at MSMEs in India FY 2016, by type • Rate of labor participation across India 2022 • Rate of labor participation across India 2022, by gender • Unemployment rate in India 2022 • Rate of unemployment in India 2021 by highest education level • Minimum daily wages in India 2012-2022 The most important statistics • Inflation rate in India 2028 • Wholesale Price Index of primary articles in India FY 2013-2022 • Food inflation rate per month India 2022 • Monthly CPI of fuel and light in India 2021-2022 • Monthly exchange rate of Indian rupee against U.S dollar in 2022 • Value of foreign exchange reserves in India FY 2010-2021 The most important statistics • Federal...

India’s foreign exchange reserves fell to their lowest in over 20 months as the central bank stepped up its intervention to protect the rupee from tumbling past 80 a dollar. The reserves fell $7.5 billion to $572.7 billion as of July 15, data by the Reserve Bank of India released Friday showed. The reading is the lowest since November 6, 2020. In the first two weeks of July, the Indian central bank saw its reserves falling $15.5 billion, most of it defending the currency.

Ahead of the policy review in September, India’s foreign exchange reserves had dropped to $545.65 billion, which was then the lowest level since Oct 2, 2020. The reserves fell further to an over two-year low of $524.52 billion for the week ending Oct 21, depleting by $117.93 billion from the record high of $642.45 billion seen on September 3 last year. However, experts opine that the future pace of increases in forex reserves may not be sharp. China is re-emerging as a competitor for international investors’ funds. As China begins to ease curbs and move to focus on the economy, it’s beaten down valuations vis a vis India’s steepest valuations could turn out to be India’s disadvantage and temper down flows. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. Four state-owned financial entities — Punjab National Bank, Life Insurance Corporation of India, State Bank of India, and Bank of Baroda — that together own just over 45% of UTI Asset Management Company (AMC) are understood to be working on inviting formal bids for selling their stakes, top officials close to the development told ET. • Khanda, who led anti-India protest dies • Flying taxi is top trend at VivaTech in Paris • Biparjoy: Will continue upto midnight, says IMD • IndiGo plane suffers tail strike while... • Purola Love Jihad row: Mahapanchayat cancelled • Ten quick tips to become a 'Professional Trader' • 10 stocks with highest EBITDA margin in FY23 • Biparjoy: Ground report...