
Capital inflows to remain muted in Q2, can’t bridge CAD: CMIE
The drawdown in forex reserves is expected to continue in the September quarter, despite the possibility of lower capital outflows and improvement in current account deficit.
The drawdown in forex reserves is expected to continue in the September quarter, despite the possibility of lower capital outflows and improvement in current account deficit.
The Reserve Bank of India has allowed FPIs to purchase more government securities under the fully accessible route.
The country's forex reserves decreased from $635.36 billion at the end of September 2021 to $607.31 billion at the end of March 2022, shows RBI data.
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India's current forex reserve is equivalent to 13.2 months of import, and higher than the country's external debt.
While the Reserve Bank of India kept policy rates and its accommodative stance unchanged, additional monetary measures have been brought in to fight the second wave of Covid-19.
The big question is how much more foreign exchange will the Reserve Bank of India buy, and why?
While gloom prevails across economies, a State Bank of India report says that the Reserve Bank of India has been relatively successful in ensuring financial stability in the market since May.
The delay in stimulus announcement is disappointing and raises the probability that a stimulus, if any, might be weaker than expected, says Jefferies India.
Since April 2001 foreign exchange reserves grew 11.15 times to $476.09 billion in mid-February; the RBI may add $21 billion more by March 2021, according to a BofA Securities report.