Forex reserves with rbi. Continuing a recent trend, Indian foreign exchange reserves shot up by a massive $ billion to touch a high of $ billion for the week ended September 1, Reserve Bank of India (RBI) data showed on Friday.

Forex reserves with rbi

Understanding why countries keep Forex reserves - Jayant Manglik - Religare Online

Forex reserves with rbi. In August , the rupee plummeted to an all-time low of against the dollar following the US Federal Reserve's decision to roll back its stimulus programme. Raghuram Rajan, who was RBI Governor then, announced a series of measures to shore up the rupee and foreign exchange reserves.

Forex reserves with rbi

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Lenders parked an average 2. This peaked at 5. The surge in liquidity has pushed the RBI to resume open-market bond sales as well as auctions of longer duration repos besides imposing costs on the government for special instruments such as cash management bills and market stabilization scheme bonds. Consistent buildup in the forward book may have cost the RBI some 70 billion rupees, while total liquidity-absorption costs due to the demonetization deluge from November to June were billion rupees, according to calculations by Kotak Mahindra Bank Ltd.

The RBI paid another 50 billion rupees to 70 billion rupees to print banknotes, the bank estimates. A weakening dollar would also have led to losses due to the foreign-currency cash pile, which has traditionally been dominated by the greenback.

After all these expenses, the RBI transferred Assuming everything else stays constant, she estimates the budget deficit may come in at 3. Read more on urjit patel. How to calculate gratuity. The unhappy secret of HDFC's balance sheet. How much have your NPS funds earned? Aadhaar linking deadlines for these 6 services. My Saved Articles Sign in Sign up. Find this comment offensive?

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