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India’s Forex reserves surge to lifetime high of $670.86 bn India's foreign exchange (Forex) reserves rose for the third-consecutive week to touch a new lifetime high of $670.86 billion as of July 19, according to the latest data released by the RBI on Friday.   The reserves surged by $4 billion during the week after increasing by a cumulative of $14.9 billion in the preceding two weeks. An increase in the Forex reserves reflects strong fundamentals of the economy and gives the RBI more headroom to stabilise the rupee when it turns vola...
India’s Forex reserves surge to lifetime high of $670.86 bn
India’s Forex reserves surge to lifetime high of $670.86 bn
Source: IANS
2024-07-27 09:03:32 am
Economic Survey pegs India's GDP growth rate at 6.5-7 pc for 2024-25 The Economic Survey tabled by Finance Minister Nirmala Sitharaman in Parliament on Monday projects India’s GDP growth rate at 6.5 to 7 per cent for 2024-25 as it sees the economy on a strong wicket.   The survey states that global economic growth will be 3.2 per cent in 2023 as per the April World Economic Outlook. Diverging growth patterns have emerged among countries. The stark difference in the growth performance of countries has been on account of domestic structural issues,...
Economic Survey pegs India's GDP growth rate at 6.5-7 pc for 2024-25
Economic Survey pegs India's GDP growth rate at 6.5-7 pc for 2024-25
Source: IANS
2024-07-22 02:06:31 pm
`Current account deficit to moderate below 1 pc of GDP led by growing exports` The current account deficit is foreseen to moderate below 1 per cent of GDP led by growing merchandise and service exports coupled with decline in import dependency, says Amnish Aggarwal, Director – Research, Prabhudas Lilladher. India’s current account deficit narrowed to $10.5 billion (1.2 per cent of GDP) in Q3 FY24 as compared with $16.8 billion (2.0 per cent of GDP) in Q3 FY23 assisted by pick up in global export demand. The import bill has been controlled by easing glo...
`Current account deficit to moderate below 1 pc of GDP led by growing exports`
`Current account deficit to moderate below 1 pc of GDP led by growing exports`
Source: IANS
2024-03-27 04:41:21 pm
India current account gap narrows to 1.2% of GDP in Octomber-December, central bank says India's current account deficit narrowed in the October-December quarter, largely due to higher service exports, the central bank said on Tuesday. The deficit was $10.5 billion, or 1.2% of GDP, in the third quarter of fiscal 2023/24, compared with $11.4 billion, or 1.3% of GDP, in the preceding quarter, which was revised upwards from $8.3 billion, or 1% of GDP. The deficit stood at $16.8 billion or 2% in the same quarter a year ago. The median forecast in a Reuters poll of 21 eco...
India current account gap narrows to 1.2% of GDP in Octomber-December, central bank says
India current account gap narrows to 1.2% of GDP in Octomber-December, central bank says
Source: Reuters
2024-03-27 09:07:05 am
Rupee may face some pressure as weaker yuan weighs on Asian FX The rupee is likely to open flat on Wednesday, although the Indian currency may face some pressure on the back of a decline in the offshore Chinese yuan that dragged most Asian currencies lower. Non-deliverable forwards indicate rupee will open largely unchanged from its close at 83.28 against the U.S. dollar on Tuesday. The dollar index edged higher to 104.4, while the offshore Chinese yuan was down 0.1% at 7.25. The Japanese yen also fell 0.2% to 151.88, its weakest level since 1990. ...
Rupee may face some pressure as weaker yuan weighs on Asian FX
Rupee may face some pressure as weaker yuan weighs on Asian FX
Source: Reuters
2024-03-27 08:51:10 am
India`s CAD declines sharply to 1% of GDP in Q2FY24: RBI The Reserve Bank of India (RBI) in its latest data has showed that India’s current account deficit (CAD) declined sharply to 1 per cent of the GDP or $8.3 billion in the second quarter of this financial year (Q2FY24), mainly due to lower merchandise trade deficit and growth in services exports.  The current account deficit, which represents the difference between the total amount of money sent abroad and money received from overseas across the economy, was 3.8 per cent of GDP or...
India`s CAD declines sharply to 1% of GDP in Q2FY24: RBI
India`s CAD declines sharply to 1% of GDP in Q2FY24: RBI
Source: Accord Fintech
2023-12-27 10:25:48 am
Indian economy projected to grow at 6.3% in current financial year: IMF The International Monetary Fund (IMF), in its Article IV consultation report, which reviews a country's current and medium-term economic outlook, has said that the Indian economy is projected to grow at 6.3 per cent in the current financial year 2023-24 and the next. It said the country's growth is expected to remain strong, supported by macroeconomic and financial stability. On inflation front, the IMF In its report projected 5.4 per cent for this fiscal year and 4.6 per cent for ...
Indian economy projected to grow at 6.3% in current financial year: IMF
Indian economy projected to grow at 6.3% in current financial year: IMF
Source: Accord Fintech
2023-12-20 10:23:48 am