BAJAJ BROKING
India's foreign exchange reserves fell by $2.83 billion to $640.33 billion as of April 19, continuing a two-week decline. The RBI sold $1.5 billion in the NDF market amid rupee depreciation due to geopolitical tensions. FCAs dropped by $3.79 billion, while gold reserves increased by $1.01 billion.
India's foreign exchange reserves witnessed a second consecutive weekly decline, reaching a six-week low of $640.33 billion as of April 19, according to data from the Reserve Bank of India (RBI). The reserves decreased by $2.83 billion, following a $5.4 billion drop in the previous week.
Additional Read: India's Forex Reserves Surge to Record Highs
The RBI intervened in the foreign exchange market to manage excess volatility in the rupee, which fell to a lifetime low of 83.5750 against the dollar during the reporting week. Despite this, the rupee logged marginal weekly losses.
Additional Read: Share Market Updates
Gold reserves increased by $1.01 billion to $56.81 billion, while Special Drawing Rights (SDRs) decreased by $43 million to $18.03 billion.
Foreign currency assets (FCAs) contracted by $3.79 billion to $560.86 billion, reflecting the impact of appreciation or depreciation of non-US currencies held in the reserves.
The reserve position in the IMF also dipped by $2 million to $4.63 billion.
The RBI regularly monitors the foreign exchange markets and intervenes as needed to maintain orderly market conditions and prevent excessive volatility in the exchange rate. The central bank's interventions may include liquidity management measures and the selling of dollars to stabilise the rupee.
Sources:
https://economictimes.indiatimes.com/news/economy/indicators/indias-forex-reserves-down-by-2-83-bn-to-640-33-bn-as-of-april-19/articleshow/109621338.cms?from=mdr
https://www.business-standard.com/finance/news/foreign-exchange-reserves-drop-to-six-week-low-at-640-33-billion-124042600975_1.html
Disclaimer: Investments in the securities market are subject to market risk, read all related documents carefully before investing.
This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.
For All Disclaimers Click Here: https://bit.ly/3Tcsfuc
Share this article:
7th Pay Commission Leave Rules & Holidays in India
11 Dec, 2024 | 5 Min. read
Wipro Ltd
11 Dec, 2024 | 7 Min. read
Aditya Birla Group
11 Dec, 2024 | 10 Min. read
What is the Lock-in Period in IPO
11 Dec, 2024 | 6 Min. read
Textile Sector in India
11 Dec, 2024 | 11 Min. read
Step-by-Step Guide to Accessing Your Income Tax Assessment Order Online
11 Dec, 2024 | 3 Min. read
IPO vs FPO vs OFS: Key Differences in How Companies Raise Capital
11 Dec, 2024 | 8 Min. read
Gold Price in India - Gold Prices Edge Higher as Futures Hit $2,654.50
11 Dec, 2024 | 39 Min. read
Indian Overseas Bank Secures ₹1,359 Crore Income Tax Refund for AY 2015-16
11 Dec, 2024 | 2 Min. read
HG Infra Secures ₹899 Crore NH-227B Road Upgrade Project in UP
11 Dec, 2024 | 2 Min. read
NTPC Green Energy Secures 500 MW Solar Project with 250 MW ESS from SECI
11 Dec, 2024 | 2 Min. read
Awfis Space ₹583 Crore Block Deal Launches at ₹680 Floor Price
11 Dec, 2024 | 2 Min. read
RBI Launches ULI: Transforming Loan Access
August 27, 2024 | 4 Min. read
Textile Sector in India
September 20, 2024 | 5 Min. read
List of IPOs with DRHPs Filed
November 30, 2023 | 3 Min. read
Aditya Birla Group
September 28, 2023 | 10 Min. read
Bajaj Housing Finance Ltd IPO: Things Smart Investors Need to Know
September 05, 2024 | 4 Min. read
Budget Stock Ideas 2024-2025 | Stocks to Buy Today
July 24, 2024 | 4 Min. read
IPO Eligibility Criteria : Full Details
March 15, 2024 | 6 Min. read
What Is the Lock-In Period in IPOs?
October 18, 2023 | 6 Min. read
Godfrey Phillips Announces 2:1 Bonus Shares
September 16, 2024 | 7 Min. read
Jindal Group- A Comprehensive Analysis
September 27, 2024 | 7 Min. read
Level up your stock market experience: Download the Bajaj Broking App for effortless investing and trading