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According to some analysts, the rupee’s biggest rally in seven years will give the Reserve Bank of India scope to rebuild its forex reserves, potentially limiting further gains after the boost from the India-US trade deal. The rupee has fallen 5.3% against the US dollar so far this year, putting it on track for its…
India’s foreign exchange reserves surged by $8.053 billion to touch a new all-time high of $709.413 billion in the week ended January 23, according to data released by the Reserve Bank of India, extending the rupee’s recent rebound after months of volatility.The latest increase follows a jump of $14.167 billion in the previous reporting week,…
The Reserve Bank of India sold dollars ahead of the opening of local spot markets on Thursday to support the rupee, three traders said. The rupee has fallen 5% against the US dollar after Donald Trump imposed 50% tariffs on India’s exports to its biggest market. (Reuters) The rupee today fell to 91.98/dollar, surpassing the…
The Reserve Bank of India’s holdings in US Treasury bonds fell to a five-year low as India seeks to support the rupee against the US dollar and diversify its foreign exchange reserves, joining a broader shift by some major economies from the world’s largest bond market. A man walks past the Reserve Bank of India…
