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Searched Tag: foreign exchange

India's current account deficit declined to USD 10.5 billion or 1.2 per cent of the GDP in October-December quarter from USD 11.4 billion in the previous three months and USD 16.8 billion a year back, the Reserve Bank of India (RBI) said on Tuesday.

RBI reports India's current account deficit drops to $10.5 billion in October-December

March 26, 2024, 06:23 PM - 2 min read

The merchandise trade deficit at USD 71.6 billion was marginally higher than USD 71.3 billion during the third quarter of 2022-23. Services exports grew by 5.2 per cent on a year-on-year basis on the back of rising exports of software, business and travel

India's forex reserves jump $6.55 bn to $625.63 bn

India's forex reserves surge to $625.626 Billion, reaching new heights despite recent dips

March 8, 2024, 08:55 PM - 2 min read

Despite hitting an all-time high of $645 billion in October 2021, pressures on reserves emerged due to the central bank's efforts to protect the rupee amidst global developments.

The rupee appreciated 7 paise to settle at 82.83 (provisional) against the US dollar on Wednesday, buoyed by a weak American currency against major rivals overseas and a rally in domestic equities.

Rupee rises 7 paise to settle at 82.83 against US dollar

March 6, 2024, 05:44 PM - 2 min read

At the interbank foreign exchange market, the local unit opened at 82.90 and oscillated between the peak of 82.82 and the lowest level of 82.91 against the greenback during intra-day deals. The currency finally settled at 82.83 (provisional), registering a gain of 7 paise from its previous close.