Weekly Statistical Supplement WSS - Extract. 21 Sep ; Foreign Exchange Reserves: 8 kb: kb: 14 Sep ; Foreign Exchange Reserves. India’s forex reserves fell for the fourth consecutive week, due to likely intervention by the Reserve Bank of India to cushion the rupee’s slide. Foreign exchange reserves stood at $ billion as of May 11, showed data released by the RBI on Friday.
NIFTY 50 11, Drag according to your convenience. Related Top rupee forecaster sees it rising in a contrarian call Nirav scam fallout: Rupee under stress Rupee could face swings, offer chance for profitable trades. If things deteriorate, India could turn to other weapons in its arsenal, economists say. With the current-account deficit set to widen, thanks to higher oil prices and outflows from stocks and bonds, the rupee could be in for some more weakness after it plunged to a record The currency gained 0.
Here are some of the measures policy makers may consider should that happen: Raising Rates The Reserve Bank of India hiked rates for the first time in four years in June, and is likely to follow through in the coming months, pricing in the swap markets show.
Indonesia raised rates aggressively in the past few months while Philippines too tightened policy as they sought to support their currencies. Intervention The RBI is suspected to have intervened regularly in the foreign exchange market. Higher Tariffs Trade war is the new weapon in town. India, with its past experience of relying on higher duties to curtail imports, could use it to curb current-account deficit. In the aftermath of taper-tantrums in , India hiked import duty on gold bullion and jewelry.
That saw inflows shrink, helping narrow the current-account gap. This time around, electronics imports have outstripped gold. Tap Non-Residents One of the last resorts will be to turn to wealthy non-resident Indians to replenish precious foreign currency reserves. This was option was exercised in Besides, authorities may have to tap non-resident Indians.
Fight Panic Verbal intervention is always an option. Rajiv Kumar, vice chairman of think-tank NITI Aayog, said this month that the rupee was overvalued on a real effective exchange rate level. The country trade-weighted real effective exchange rate has fallen to And since all the figures below are in U. IMF releases the quarterly data on the currency composition of official foreign exchange reserves. The data are reported to the IMF on a voluntary and confidential basis.
From Q4 , the data was expanded to include renminbi RMB. From Wikipedia, the free encyclopedia. For reserves excluding gold, see List of countries by foreign-exchange reserves excluding gold. Ministry of Finance Japan.
Retrieved 23 July Retrieved 17 July Retrieved 22 September The Bank of Korea. Retrieved 5 August Reserves of foreign exchange and gold". Retrieved 11 September Retrieved 6 September Retrieved 8 August Retrieved 24 July Reserve Bank of Australia. Azerbaijan's currency reserves will significantly increase by year-end". Lists of countries by financial rankings. Forex reserves Forex reserves ex. Tax rates Tax revenue Wage average median minimum.
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The reserves are made of gold or a specific currency. So, the opportunity cost of foreign exchange reserves is very high.
With the current-account deficit set to widen, thanks to higher oil prices and outflows from stocks and bonds, the rupee could be in for some more weakness after it plunged to a record