Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Foreign fund inflows, weaker dollar push India’s forex reserves to record high.


Date: 29-06-2019
Subject: Foreign fund inflows, weaker dollar push India’s forex reserves to record high
Foreign fund inflows and weakening US dollar have led to a rise in India’s foreign exchange reserves that touched a record high of $426.42 billion in the week ended June 21.

Data released by the Reserve Bank of India (RBI) showed the country’s foreign exchange reserves grew by $4.22 billion from $422.20 billion in the previous week. The reserves had last touched record of $426.08 billion on April 13, 2018.

“Capital reserves in the last quarter have significantly risen, supporting the build-up in forex reserves. This also reflects that the central bank mopped up excess inflows,” said Shubhada Rao, Chief Economist, YES Bank.

So far, there have been foreign fund inflows worth $11.42 billion in equities and $1.53 billion in India’s debt markets, since the start of 2019.

The foreign currency assets that also reflect changes in valuation, increased by $4.2 billion to $398.65 billion in the week ended June 21.

“Foreign investments will keep flowing into emerging markets as major central banks like the US Fed and European Central Bank have signalled lower interest rates going ahead. India will also benefit from it,” said Madan Sabnavis, Chief Economist at CARE Ratings.

Earlier this week, US President Donald Trump said he wants a weaker dollar to help boost exports after comments from ECB led to a fall in the Euro against the dollar. The dollar index, which measures the value of the greenback against a basket of six world currencies, fell by 2 percent in the past month.

The rupee ended higher at 69.03 against the dollar for the fifth consecutive session on June 28. It touched a high of 68.8 against the greenback in intraday trade. So far, the Indian currency has appreciated by 1 percent against the dollar.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 30-05-2025
Notification No. 31/2025-Customs
Seeks to i. extend the specified condition of exemption to imports of Yellow Peas (HS 0713 10 10) to bill of lading issued on or before 31.03.2026; ii. to reduce the basic custom duty on crude soya bean oil (HS Code 15071000), crude sunflower oil (HS Code 15121110), and crude palm oil (HS Code 15111000) from 20% to 10%

Date: 30-05-2025
Notification No. 38/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 26-05-2025
NOTIFICATION No. 37/2025-Customs (N.T.)
Notification of ICD Jalna, Maharashtra u/s. 7(1)(aa) of Customs Act, 1962" and it was issued under Section 7(1)(aa) of Customs Act, 1962

Date: 23-05-2025
Notification No. 30/2025-Customs
Seeks to amend notification No. 55/2022-Customs dated 31.10.2022 to remove the condition required for availing exemption on Bangalore Rose Onion.

Date: 23-05-2025
NOTIFICATION No. 36/2025 - Customs (N.T.)
Amendment in the Notification No. 63-1994-Customs (N.T) dated 21.11.1994 in respect of Land Customs Station, Raxaul

Date: 15-05-2025
Notification No. 34/2025-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver

Date: 09-05-2025
Notification No. 29/2025-Customs
Seeks to exempt works of art and antiques from Basic Customs Duty

Date: 30-04-2025
Notification No. 02/2025-Customs (CVD)
Seeks to amend Notification No. 05/2024-Customs (CVD) dated the 11th September, 2024 so as to align with changes made vide Finance Act, 2025

Date: 30-04-2025
Notification No. 26/2025-Customs
Seeks to rescind Notification No. 04/2025-Customs dated the 1st February, 2025

Date: 30-04-2025
Notification No. 27/2025-Customs
Seeks to amend Second Schedule to the Customs Tariff Act, to align it with changes made in the First Schedule to the Customs Tariff Act vide Finance Act, 2025.



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001