India's Forex Reserves Rising : Close to $400 Billion USD

[Chanakyaa]

As per the Latest RBI Data, The Forex Reserves are constantly showing an Upward Trend :

https://tradingeconomics.com/india/foreign-exchange-reserves

In India, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans. This page provides the latest reported value for - India Foreign Exchange Reserves - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. India Foreign Exchange Reserves - actual data, historical chart and calendar of releases - was last updated on January of 2019.

 

[Chanakyaa]

@BHarwana , very Sad and Very Bad
@Nilgiri

 

[Cherokee]

Thats almost 1.5 times the Entire GDP of Pakistan and almost what 30 to 40 times their forex reserve .

 

[Chanakyaa]

Thats almost 1.5 times the Entire GDP of Pakistan.

True. But...
I would say, our benchmark should be china. we are 10x Behind them. We need to work hard.

 

[Cherokee]

True. But...
I would say, our benchmark should be china. we are 10x Behind them. We need to work hard.

yep next decade will put us in the big boys club.

 

[GeraltofRivia]

True. But...
I would say, our benchmark should be china. we are 10x Behind them. We need to work hard.

Gold for dollar?

 

[Nilgiri]

True. But...
I would say, our benchmark should be china. we are 10x Behind them. We need to work hard.

Different model employed in their case (so we will never quite get to that kind of forex stockpile, given we do not have much utility for it in the model we are employing for growth overall). But yes they are better benchmark for us compared to Pakistan.

 

[Khan_21]

Thats almost 1.5 times the Entire GDP of Pakistan and almost what 30 to 40 times their forex reserve .

Whats the use of these reserves when your per capita is still a measly $1800-1900? While the average median wealth is lower than Pakistan.

 

[Nilgiri]

Gold for dollar?

Heh, I'd rather the gold stays percolated "as is" among the people to some degree (though options made to monetise as much as they see fit to). It is a more social capital currency that hedges at very cultural level for India...that also helps it through the worse years and govt heavy handedness (for good or bad)...among a matrix of other stuff that is not really captured all that much by western economic theory etc.

 

[Cherokee]

Whats the use of these reserves when your per capita is still a measly $1800-1900? While the average median wealth is lower than Pakistan.

Per capita is still Better than Pakistan and all this GDP growth is gonna translate in wealth as well so don't worry about it at all .

https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=PK-IN-BD

 

[Nilgiri]

Whats the use of these reserves when your per capita is still a measly $1800-1900? While the average median wealth is lower than Pakistan.

Without those reserves, Indian GDP would be far lower and its credit rating even worse.

Median wealth estimates (as opposed to total/mean wealth estimates) are flawed since they are not sampled at any relevant basis like GDP is.

Its for example why Ukraine, Iran and Kazakhstan have median wealths far lower than India and Pakistan in that study you are quoting....which is laughable.

 

[Chanakyaa]

Different model employed in their case (so we will never quite get to that kind of forex stockpile, given we do not have much utility for it in the model we are employing for growth overall). But yes they are better benchmark for us compared to Pakistan.

I fully agree. We need not follow the model where huge incentives are given to create "Ghost Towns" of concrete just to keep a specific sector going.

Our Problems. Our Unique Solutions.

 

[beijingwalker]

Foreign-exchange reserves[edit]
Rank Country or region Foreign-exchange reserves
(Millions of US$) Figures as of
1

China 3,053,100 Oct 2018[1]
2

Japan 1,252,870 Oct 2018[2]
3

Switzerland 800,389 May 2018[3]
4

Saudi Arabia 506,400 July 2018[4]
5

Russia 466,900 28 Dec 2018[5]
6

Taiwan[6] 461,784 December 2018[7][8]
7

Hong Kong 423,100 Oct 2018[9]
8

South Korea 403,700 Dec 2018[10]
9

India 397,352 11 Jan 2019[11]

More realistic is to catch up with Hong Kong and Taiwan first.

 

[Khan_21]

Per capita is still Better than Pakistan and all this GDP growth is gonna translate in wealth as well so don't worry about it at all .

https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=PK-IN-BD

Your typical average guy is much better off in Pakistan. Check GINI index. India has alot of inequality. Few dozen Billionaires even out the hundreds of thousands of poor Indians , hence the slightly higher per capita.

That 7.5% growth only effects the 1 % in India. Its well documented.

 

[Chanakyaa]

Foreign-exchange reserves[edit]
Rank Country or region Foreign-exchange reserves
(Millions of US$) Figures as of
1

China 3,053,100 Oct 2018[1]
2

Japan 1,252,870 Oct 2018[2]
3

Switzerland 800,389 May 2018[3]
4

Saudi Arabia 506,400 July 2018[4]
5

Russia 466,900 28 Dec 2018[5]
6

Taiwan[6] 461,784 December 2018[7][8]
7

Hong Kong 423,100 Oct 2018[9]
8

South Korea 403,700 Dec 2018[10]
9

India 397,352 11 Jan 2019[11]

More realistic is to catch Hong Kong and Taiwan first.

Some time back , India had close to $426 Billion.. So ?