SME Times is powered by   
Search News
Just in:   • Sensex ends 135 points lower, Jet ends 32% lower  • Jet stocks sink as investors react to suspension  • Notice to Samsung for not passing GST cut benefit to consumers  • Air India keen on taking 5 grounded Jet Boeings  • US stocks fall as health care shares lag 
Last updated: 18 Aug, 2018  

Rupee.9.Thmb.jpg Forex reserves plunges by over $1.80 bn on rupee crisis

Rupee.9.jpg
   Top Stories
» Govt suspends LoC trade
» Informal sectors of agrarian India yet to recover: Report
» Cabinet approves extension of duration of New Urea Policy
» Cabinet approves India-Denmark pact on renewable energy
» Three-day Home Expo India 2019 kicks off
SME Times News Bureau | 18 Aug, 2018

Forex reserve of the country plunged by $1.82 billion during the week ended August 10, official data showed on Friday.

According to the Reserve Bank of India (RBI) weekly statistical supplement, the overall forex reserves plunged to $400.88 billion from $402.70 billion reported for the week ended August 3.

A strong US dollar and subsequent interventions by the country's central bank to stabilise the rupee drained over $1.80 billion from India's foreign exchange (forex) reserves.

The RBI is known to enter the markets via intermediaries to either sell or buy US dollars to keep the rupee in a stable orbit.

India's forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the RBI's position with the International Monetary Fund (IMF).

Segment-wise, FCAs -- the largest component of the Forex reserves -- receded by $1.94 billion to $376.26 billion during the week under review.

Besides the US dollar, FCAs consist of nearly 20-30 per cent of major global currencies.

However, the value of the country's gold reserves increased by $145.6 million to $20.69 billion.

As per the data, the SDRs' value slipped by $9.2 million to $1.46 billion, while the country's reserve position with the IMF inched down by $9.2 million to $2.45 billion.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 19 Apr, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» Calicut University Collaborates with ACCA(1)
» Economic concerns amid poll heat(1)
» Appoint distributors, expand your business(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter