India's forex reserves rise for third straight week, hits 6-month high

[kaykay]

India's forex reserves rise for third straight week, hits 6-month high

India's forex reserves have risen for the third straight week; it has hit the 6-month high at $573.73 billion

www.livemint.com

India's foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
This is the third consecutive week that the country's reserves have risen. In the week to Jan. 20, the reserves stood at $573.73 billion.

The RBI has intervened to buy dollars as the rupee stabilised, according to forex market participants.

This, coupled with valuation changes, adds to the central bank's forex reserves.

The rupee declined 0.5% against the dollar in the week to Jan. 27 on suspected RBI intervention and importer hedging, having traded in a range of 80.88-81.7650.

For the current week ending Feb. 3, the rupee fell again on equity outflow jitters.

 

[walterbibikow]

@kaykay Buddy I've already posted this news on Indian economy thread

 

[datafreak]

Good. Looks like we're slowly recovering from pandemic losses. I think another two years and we can fully put it behind us.

 

[Kuru]

In the week to Jan. 20, the reserves stood at $573.73 billion.

$3 billion rise in a week is good.

 

[legacytiger18]

$3 billion rise in a week is good.

Thats Pakistan's total reserves available now

 

[Kuru]

Thats Pakistan's total reserves available now

We should help Pakistan if China and Saudi Arabia not doing it. This is just to get that goodwill with Pakistan you know. To show that we dont have any ill-will. We should give a couple of billion dollars.

I know Pakistan won’t accept it but still it’s gonna be good.

 

[Farhan Bohra]

We should help Pakistan if China and Saudi Arabia not doing it. This is just to get that goodwill with Pakistan you know. To show that we dont have any ill-will. We should give a couple of billion dollars.

I know Pakistan won’t accept it but still it’s gonna be good.

What you guys smoke really?

Ye viswaguru ka bhoot apne upar se utaro. They kill our people and we offer them money?

 

[Skimming]

What you guys smoke really?

Ye viswaguru ka bhoot apne upar se utaro. They kill our people and we offer them money?

He thinks giving money will stop the killing.

 

[Skull and Bones]

Should touch 650-675 billion by the end of this year.

 

[indushek]

We should help Pakistan if China and Saudi Arabia not doing it. This is just to get that goodwill with Pakistan you know. To show that we dont have any ill-will. We should give a couple of billion dollars.

I know Pakistan won’t accept it but still it’s gonna be good.

While it's a noble idea, it's not practical in current environment.
Even if you ignore the ever existing enmity, between both countries for that matter.

Reason: Pakistan is dealing with a lot now, and any such action will be seen in a different light, by differing factions in their power circles.

 

[Abdul Rehman Majeed]

India's forex reserves rise for third straight week, hits 6-month high

India's forex reserves have risen for the third straight week; it has hit the 6-month high at $573.73 billion

www.livemint.com

India's foreign exchange reserves rose above a six-month high of $576.76 billion in the week through Jan. 27, the Reserve Bank of India's (RBI) statistical supplement showed on Friday.
This is the third consecutive week that the country's reserves have risen. In the week to Jan. 20, the reserves stood at $573.73 billion.

The RBI has intervened to buy dollars as the rupee stabilised, according to forex market participants.

This, coupled with valuation changes, adds to the central bank's forex reserves.

The rupee declined 0.5% against the dollar in the week to Jan. 27 on suspected RBI intervention and importer hedging, having traded in a range of 80.88-81.7650.

For the current week ending Feb. 3, the rupee fell again on equity outflow jitters.

And Adani lost over 100 billion US dollars.

Good. Looks like we're slowly recovering from pandemic losses. I think another two years and we can fully put it behind us.

You foreign reserves are all based on debt.

 

[Skull and Bones]

And Adani lost over 100 billion US dollars.





You foreign reserves are all based on debt.

So you’re saying that a single Indian lost an amount that is 33.33 times more than the forex reserve of entire nation of 250 million Pakistanis?

How incompetent your nation is?

 

[beijingwalker]

Nothing to brag about, India's foreign reserves are similar to Taiwan's or Hong kong's, but Hong kong has just 6 million people and India 1.4 billion.

 

[Farhan Bohra]

And Adani lost over 100 billion US dollars.





You foreign reserves are all based on debt.

You don’t even understand the basic difference in MCap and Forex.

 

[beijingwalker]

$3 billion rise in a week is good.

$4 billion rise for Hong kong last week, $16.5 rise for China.

India should pick someone its own size, not gloat over much smaller nations.