India sees forex reserves as main tool to manage bond index inflows
The country's foreign exchange reserves last touched their all-time high in October 2021. Much of the decline after that can be attributed to a rise in the cost of imported goods in 2022. India forex reserve The sum of all transactions recorded in the balance of payments must be zero, as long as the capital account is defined broadly. The reason is that every credit appearing in the current account has a corresponding debit in the capital account, and vice-versa.
India forex reserves today
India News Why India Accumulates, Increases, or Decreases Forex Reserves The RBI is an important tool in the development strategy of the Indian government. UPSC has asked several questions regarding RBI functions, objectives, monetary regulations, etc., especially in UPSC Prelims. One of the things to know about RBI is its timeline which is provided in the table below:Answer (Detailed Solution Below)
New Delhi: There's no looking back for India's foreign exchange reserves as they yet again touched a fresh lifetime high. In the week that ended on July 5, the foreign exchange kitty rose by USD 5.158 billion to USD 657.155 billion, official data from the Reserve Bank of India (RBI) showed on Friday. The previous high was at USD 655.817 touched last month. The reserves have been rising on and off for a long time now. So far in 2024, they have risen about USD 35 billion, on a cumulative basis. Special Considerations Mumbai: India’s forex reserves jumped $5.158 billion to $657.155 billion during the week ended July 5, the Reserve Bank of India (RBI) said on Friday.
