India's forex reserves breach $600 billion-mark, hover around 15-month high

[NG Missile Vessels]

India's forex reserves see the biggest weekly jump in four months, as they went up by $12.74 billion to $609.02 billion, as per the Reserve Bank of India's update on Friday.

Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

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.

India's forex reserves breach $600 billion-mark, hover around 15-month high

India's foreign exchange reserves went up by $12.74 billion and stood at $609.02 billion as on July 14, 2023, Reserve Bank of India data showed on Friday. Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

www.google.com

 

[NG Missile Vessels]

@GodToons @Cheepek @Skull and Bones @Raj-Hindustani @protean @indushek @migflug @CallSignMaverick

 

[GodToons]

@GodToons @Cheepek @Skull and Bones @Raj-Hindustani @protean @indushek @migflug @CallSignMaverick

The point is, what India is going to do with this reserve? if they purchase gold and create a war chest for near future impending clash then it will make sense. As of today, India is doing everything right.

 

[Raj-Hindustani]

View attachment 940065
India's forex reserves see the biggest weekly jump in four months, as they went up by $12.74 billion to $609.02 billion, as per the Reserve Bank of India's update on Friday.

Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

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.

India's forex reserves breach $600 billion-mark, hover around 15-month high

India's foreign exchange reserves went up by $12.74 billion and stood at $609.02 billion as on July 14, 2023, Reserve Bank of India data showed on Friday. Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

www.google.com

Good news...

 

[pikkuboss]

@GodToons @Cheepek @Skull and Bones @Raj-Hindustani @protean @indushek @migflug @CallSignMaverick

We have added more than half of Bangladesh's total forex reserve in a week.

 

[Puffin]

The point is, what India is going to do with this reserve? if they purchase gold and create a war chest for near future impending clash then it will make sense. As of today, India is doing everything right.

Reserves offer a cushion against the vicissitudes of outrageous fortune. . Trade embargoes , injurious weather events, a sudden inflation in the price of oil, Sudden violent disruptions in supply chains caused by foreign wars, wars inflicted by India's enemies, some new variant of a contagious dieses, sudden trade imbalance, acquisition of a foreign asset at an opportune time and price, paying off expensive foreign loans. etc
There are many many more reasons possessing a large reserve is beneficial ask Pakistan or Sri Lanka Greece or Argentina

 

[migflug]

The point is, what India is going to do with this reserve? if they purchase gold and create a war chest for near future impending clash then it will make sense. As of today, India is doing everything right.

Stabilizing Rupee is the main aim of these Reserves!!

 

[Abdul Rehman Majeed]

View attachment 940065
India's forex reserves see the biggest weekly jump in four months, as they went up by $12.74 billion to $609.02 billion, as per the Reserve Bank of India's update on Friday.

Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

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.

India's forex reserves breach $600 billion-mark, hover around 15-month high

India's foreign exchange reserves went up by $12.74 billion and stood at $609.02 billion as on July 14, 2023, Reserve Bank of India data showed on Friday. Previously, forex reserves had witnessed an uptick of $1.23 billion for the week ending on July 7.

www.google.com

Good!

When the time comes, West will block and steal all these reserves.

Indian slave will always be a slave.

 

[Maira La]

We have added more than half of Bangladesh's total forex reserve in a week.

India is a subcontinent with 28 states/countries, so $600 billion is $21.4 billion per state/country. Bangladesh's foreign exchange reserve is $27 billion.

 

[StraightEdge]

India is a subcontinent with 28 states/countries, so $600 billion is $21.4 billion per state/country. Bangladesh's foreign exchange reserve is $27 billion.

India's population is about 8x BD population. Forex is 20x or more.

 

[Maira La]

India's population is about 8x BD population.

8.5x actually, but also consider 23x the land area and resources.

 

[Skull and Bones]

The point is, what India is going to do with this reserve? if they purchase gold and create a war chest for near future impending clash then it will make sense. As of today, India is doing everything right.

If I were in a decision making position, then I would create a sovereign fund to invest in global strategic assets. Kind of like what Norway does.

 

[NG Missile Vessels]

Bangladesh's foreign exchange reserve is $27 billion.

Bangladesh's forex reserves drops to 23.56 billion USD as per IMF manual: | DD News

DDNews, News, National News, Indian News, Sports News

ddnews.gov.in

 

[nahtanbob]

India is a subcontinent with 28 states/countries, so $600 billion is $21.4 billion per state/country. Bangladesh's foreign exchange reserve is $27 billion.

most of Indian states have fraction of Bangladesh's population

 

[ProudThamizhan]

The point is, what India is going to do with this reserve? if they purchase gold and create a war chest for near future impending clash then it will make sense. As of today, India is doing everything right.

reserve is just that, not necessarily to do anything with.
like insurance or emergency medicine. You hope you will not need to use either but still must have it