#india forex reserves
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Unlocking the Power of Forex Reserves: India's Economic Triumph #BlogchatterA2Z
Unlocking the Power of Forex Reserves: India's Economic Triumph #BlogchatterA2Z #ForexReserves #EconomicGrowth #FinancialStability #RBI #India #EconomicTriumph #IndiaEconomy
India’s foreign exchange reserves have reached a historic high of $645.5 billion, marking the sixth consecutive week of growth. This surge underscores India’s robust economic resilience and its ability to weather global uncertainties. With the fourth-largest forex reserves in the world, India’s financial stability is bolstered, providing a strong foundation for sustained economic growth and…
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#economic growth#Economy#Financial Stability#Foreign Exchange#Forex Reserves#global economy#India#RBI
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India cenbank keen to further build up record high FX reserves, say sources
By Jaspreet Kalra and Swati Bhat
MUMBAI (Reuters) – India’s central bank will keep building its forex reserves as it seeks to build larger buffers, and strong inflows into the country’s equity and debt markets give it an opportunity to do so, two sources familiar with the bank’s thinking said.
The Reserve Bank of India’s absorption of dollar inflows will indirectly prevent a sharp appreciation of…
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India's depleted foreign exchange reserves are anticipated to decline further, reaching their lowest level in more than two years by end-2022.
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By the end of 2022, India's depleting foreign exchange reserves are projected to have reached their lowest level in more than two years.
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Foreign exchange Reserves: Indian international trade reserves cross $ 600 billion, know what's international trade reserves
Foreign exchange Reserves: Indian international trade reserves cross $ 600 billion, know what’s international trade reserves
India’s international trade reserves have elevated essentially the most since April. India’s international trade reserves rose by almost $3.9 billion to over $600 billion within the week ended Could 27. The rise in international trade reserves is an effective signal for the nation.
Indian foreign exchange has elevated. India’s international trade (FX) reserves rose almost $3.9 billion to over…
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#Business News#Forex Reserve#Gold Reserve#India Forex Reserve#India FX#whats Foreign Currency Reserve
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MBBS Admission in Abroad
Since NOV 2010, we have been providing professional study abroad consulting services with the primary goal of giving the best services and quality guidance to Indian students who wish to fulfil their ambitions of “studying MBBS at ABROAD.” We are the one-stop, most reputable “MBBS study ABROAD Consultant,” providing end-to-end admission support services. We have extensive experience in professional counsellors and completely qualified professionals who can aid and direct Indian students in choosing the appropriate course abroad. As a student, you can always rely on us for incredibly good, professional service. Donation and capitation fees. In India, every student is required to make a gift, with the exception of those who meet the government’s quota. Based on the policies and guidelines of the Medical University.
No entrance test: For Indian students, there is no need to take the entrance exam in order to enroll in the MBBS programed abroad; instead, they must meet the eligibility requirements in order to do so.
The Medium of teaching is English: Despite speaking their own official language, the whole MBBS programmed is taught in English. Learning the regional tongue for practice and academic purposes is not required of Indian students.
HOW CAN WE ASSIST YOU
Counselling: We have a committed, full-time team of professionals working as counsellors. Who offer students& who desire to pursue their ambition of becoming medical professionals in another country quality guidance? Using our helpline numbers, chat assistance, or email, students can schedule appointments for the counselling process at any time.
Choice of course and nation : We have a highly skilled and knowledgeable team that helps you choose the ideal course at the top university in the most reputable nation offering the best MBBS programed.
Admission guidance and process: Indian students may find the admissions process challenging because they are unfamiliar with it. By helping you to prepare the necessary applications and paperwork, we make the application process for MBBS abroad hassle-free.
Visa Assistance: The student when applying for admission to an MBBS programed abroad, a visa is a requirement. We work with students to help them prepare the necessary documentation for their visa applications and ensure that they meet all requirements for 100% approvals.
Travel and Forex assistance: Each student who travels abroad for the MBBS programed wishes from the bottom of their hearts for safe and secure journey. We assist in reserving airline tickets for the desired location and enable students to “stay & travel” with ease all over the world. Without charging more, we also provide free assistance with the travel and forex discussions.
Pre-Departure guidance : Specific rules and requirements, such as the amount of luggage allowed on flights, check-in, boarding, terminal, and safe and secure travel, applied to students travelling abroad to pursue their MBBS degrees. Our professionals guide you through the pre-departure processes and provide you with all the information you need to travel happily and safely.
Apply today for Counselling & start your journey with us!!
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Is INR likely to see more decline?
The Reserve Bank of India (RBI), the Indian central bank, is making numerous efforts to halt the rupee's free fall to new lows. According to reports, the central bank sold dollars on Wednesday (June 29, 2022) for between INR 78.97 and 78.98 per US$ and significantly increased its foreign exchange reserves to protect the rupee from a rapid devaluation, as cited by Outlook. The total foreign exchange reserves have decreased by $40.94 billion since February 25. (Indian forex reserves stood at $593.28 billion on May 21, 2022.)
On June 24, RBI deputy governor Michael Patra stated that the institution will continue to support the rupee's stability and would not permit any abrupt fall of the rupee against the dollar, as cited by Moneycontrol.
As the value of the rupee continues to fall, there is a potential that the RBI would interfere once more. Forex market experts said the RBI will continue to defend the rupee to help importers and not allow a runaway depreciation in the rupee.
Several analysts believe the Rupee could decline further against the dollar in the next few sessions as oil prices go up and the FII (Foreign Institutional Investor) sell-off continues. As per analysts, the fundamentals of the Indian economy have deteriorated.
~Lakshya Kapoor
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How Sri Lanka’s economy destroyed itself
Our island neighbor is bleeding. With the annual inflation at 18.5% in March 2022, the story of Sri Lanka is heartbreaking, traumatic and unsettling. The truth about the country is that it has fallen into a debt trap due to poor governance, corruption and of course, a lot of foreign debt. And now, it is the people who have to suffer. While one is reading this from the comfort of an air-conditioned room, people in Sri Lanka stand in queues that extend 2-3 km long even just for food, fuel and medicines.
How bad is this Economic Crisis?
Going through its worst economic crisis since 1948 when the country gained independence, the prices of essential items in Sri Lanka have sky-rocketed. The price of a kg of rice was ₹290, and that of sugar is ₹240 in March end.
Citizens have to stand in long queues for hours even to get essential. The people have to face daily power cuts of more than seven hours in the scorching heat. The administration recently had to cancel the school examinations because of country’s failure to import paper.
The 5 main reasons which led to this crisis
1. Shortage of Foreign Reserves
The alleged economic mismanagement of successive governments led to depletion of 70% of Sri Lanka’s foreign reserves with only $2.31 billion left with debt repayment of over $4 billion. Sri Lanka’s high dependency on imports for essential items further adds fuel to the economic meltdown because the island nation lacks foreign reserves to pay for its import bills. The country could face a trade deficit of $10 billion this year.
2. The pandemic effect
The island nation's huge dependence on tourism and foreign remittances took a serious due to COVID-19 pandemic. Tourism, which accounts for over 10% of the Sri Lankan GDP, was hurt after it lost visitors from three key countries namely India, Russia and the UK.
3. Russia-Ukraine war-induced inflation
Crude oil prices hit a record high in 14 years with prices soaring over $125/barrel at the height of the crisis, as the ongoing Russia-Ukraine war resulted in steep price inflation of crude oil, sunflower oil and wheat. But helped by supplying 40,000 MT of diesel under a promised $500 million line of credit and also supplied over 2,00,000 MT of fuel in the last 50 days so far.
4. Agri sector crisis
On a sudden day, the President decided that the whole country’s agriculture be turned organic, thus banning all synthetic fertilizers and pesticides that was to be done over a period of 10 years. This drastically impacted the production volume, and the efficiency got reduced by 20 to 30%,consequently severely hitting the country's farm production.
5. President’s promises
The President of Sri Lanka, Gotabaya Rajapaksa, in his presidential campaign, promised that he would cut down the Value Added Tax to half, with the motive of increasing consumption among the citizens, as reduced taxes would encourage increased spending. When he won, he put that money where his mouth was. But the timing was ill-fated as after three months of execution of this, Covid-19 happened. Thus, the cut down in taxes led to the government saw a major revenue loss.
How has the Sri Lanka responded to the crisis so far?
Sri Lanka declared an economic emergency to control food supply amid soaring inflation in September 2021. The country also had devalued its currency and imposed import curbs on many items to prevent further depletion of its forex reserves. It had partially revoked the fertiliser ban as well. Sri Lanka has approached the International Monetary Fund (IMF) for debt restructuring and a possible bailout.
Conclusion
Huge piles of foreign debt, soaring inflation, depleting foreign currency reserves, devalued currency – Sri Lanka is the breathing, living example of everything that could ever go wrong with a nation's economy. However, it remains to be seen whether the desperate political measures like a new cabinet, resignation of lawmakers and changing the central bank chief will help Lanka salvage the economy that's currently in neck-deep in crisis. In addition to the above measures, the Sri Lankan government sought aid from the US, India and China. India has extended a $1billion line of credit for the supply of essential commodities already and financial assistance of $2.4 billion has also been provided by our country since January.
Let’s just hope that the “Go Gota Go” protest by Sri Lankan citizens comes to fruition.
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Against the US dollar, the Indian rupee strengthens in a strong equity market!
The Indian rupee strengthened by 8 paise against the US dollar in early trade on April 8, reaching 83.23. This rise was supported by positive domestic equities and fresh foreign fund inflows. However, the strength of the American currency in the global market limited the currency's upswing.
At the interbank foreign exchange market, the rupee opened at 83.27 against the dollar, and later touched 83.23, up by 8 paise from the previous close.
On Friday, the rupee appreciated by 8 paise to close at 83.31 against the US dollar, as the Reserve Bank of India kept the benchmark interest rate unchanged at 6.5% for the seventh consecutive time.
Experts suggest that the rupee will likely trade within a range, as the Reserve Bank continues to protect it from further depreciation, while inflows may bring it to around 83.20.
Market participants are eagerly awaiting key macroeconomic data, such as CPI, IIP, and WPI, both from the domestic and global fronts. Forex traders will also be keeping an eye on the US CPI data.
In the domestic equity market, the 30-share BSE Sensex reached a new lifetime high of 74,658.95, and the Nifty climbed to a new all-time peak of 22,623.90.
Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, purchasing shares worth ₹1,659.27 crore.
Furthermore, India's foreign exchange reserves increased by USD 2.951 billion to USD 645.583 billion for the week ended March 29, marking the sixth consecutive week of growth. The previous week saw an increase of USD 140 million to USD 642.631 billion.
These developments illustrate the dynamics of the financial market and highlight the importance of upcoming data releases and global factors in shaping market movements.
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Insights from RBI Governor Shaktikanta Das
In a recent address, Reserve Bank of India (RBI) Governor Shaktikanta Das shared valuable insights on various aspects crucial to India’s economic landscape.
1. Growth Outlook: Das highlighted a positive growth trajectory for the Indian economy, with the National Statistical Office (NSO) forecasting a 7.6% growth in FY24. He emphasized that this sustained growth, averaging 8% over a three-year period, signifies an increase in the country’s potential growth.
2. Financial Stability: Addressing the importance of governance and regulatory compliance, Das stressed that Non-Banking Financial Companies (NBFCs) and other financial entities must prioritize these factors. Considering their operation with public funds, maintaining quality governance is imperative. He emphasized that ensuring financial stability is a collective responsibility, with the RBI committed to engaging with financial entities.
3. Forex Reserves Management: Das highlighted India’s record-high foreign exchange reserves, reaching $645.6 billion as of March 29. He discussed the impact of geopolitical events such as the Ukraine-Russia conflict, which led to temporary fluctuations in reserves. Emphasizing prudent management, Das assured that India’s forex reserves were utilized judiciously, serving as a robust safeguard during times of economic uncertainty.
Overall, Das’s insights provide valuable perspectives on growth, financial stability, and forex management crucial for India’s economic resilience and prosperity.
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Forex Trading in India: A Comprehensive Guide
Introduction to Forex Trading
Forex trading, also known as foreign exchange trading, involves the buying and selling of currencies in the global market. In India, forex trading has gained significant popularity due to its potential for high returns and the ease of accessibility provided by online trading platforms.
Regulations and Legal Framework
Forex trading in India is regulated by the Securities and Exchange Board of India (SEBI) and the Foreign Exchange Management Act (FEMA). These regulations ensure that forex trading activities comply with legal requirements and protect investors from fraudulent practices.
Popular Forex Trading Platforms in India
Several online platforms cater to forex traders in India, offering user-friendly interfaces and advanced trading tools. Some of the popular platforms include Zerodha Kite, Angel Broking, and Upstox Pro, among others.
Major Currency Pairs for Indian Traders
Indian traders commonly trade major currency pairs such as USD/INR, EUR/INR, GBP/INR, and JPY/INR. These pairs offer ample liquidity and trading opportunities for investors in the Indian forex market.
How to Start Forex Trading in India
To start forex trading in India, one must open a trading account with a registered broker and undergo a verification process. Additionally, beginners should focus on learning market analysis techniques and risk management strategies.
Risk Management in Forex Trading
Risk management is crucial in forex trading to protect capital and minimize losses. Traders can implement stop loss and take profit orders, as well as proper position sizing techniques to manage risk effectively.
Common Strategies for Forex Trading
Forex traders employ various strategies to profit from currency fluctuations, including trend following, range trading, and breakout trading. Each strategy requires a thorough understanding of market dynamics and risk tolerance.
Psychology of Forex Trading
The psychological aspect of forex trading plays a significant role in success. Traders must learn to control emotions such as greed and fear, while maintaining patience and discipline in executing trades.
Tax Implications of Forex Trading in India
Forex trading profits in India are subject to taxation under the Income Tax Act. Traders must report their gains and losses accurately and adhere to tax regulations to avoid legal complications.
Forex Trading Tips for Beginners
Beginners should start with a demo account to practice trading without risking real money. Additionally, continuous education and learning from experienced traders can help improve trading skills and profitability.
Forex Trading Myths in India
There are several myths surrounding forex trading in India, such as the belief that it is a get-rich-quick scheme or akin to gambling. In reality, successful forex trading requires education, discipline, and risk management.
Understanding Forex Trading Charts
Forex traders analyze price movements using various chart types, including candlestick charts, line charts, and bar charts. Each chart type provides unique insights into market trends and price action.
Forex Trading Signals and Indicators
Traders use technical indicators and signals to identify potential trading opportunities. Common indicators include moving averages, Relative Strength Index (RSI), and Bollinger Bands, among others.
Forex Trading and Economic Events in India
Economic events and announcements in India, such as Reserve Bank of India (RBI) decisions and inflation rates, can impact currency prices and market volatility. Traders must stay informed about such events to make informed trading decisions.
Conclusion
In conclusion, forex trading in India offers lucrative opportunities for investors to profit from currency movements. By understanding market dynamics, implementing risk management strategies, and staying disciplined, traders can navigate the forex market successfully.
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India’s Economic Surge: Record Forex Reserves & Railways’ Triumphs | FY ...
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India's forex reserves soar to a record $642.63 billion, signaling rising investor confidence 🚀.
According to the Reserve Bank of India, this historic high follows the fifth consecutive week of gains, with FPI inflows playing a crucial role.
#ForexReserves #InvestorConfidence #RBI
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Is it safe to buy foreign currency online?
Buying foreign currency online has become increasingly common and easy in recent years. It is now easier than ever to buy and sell foreign currency from the comfort of your own home. The rise of online platforms and globalization has led to easy online currency exchange services. However, due to concerns regarding the safety and security of online money transfer services, many people are still hesitant to do so. So, is buying foreign currency online safe? Let’s observe it more closely.
First of all, it is essential to keep in mind that buying foreign currency online can be just as secure as purchasing it in person at a bank or currency exchange. In fact, numerous platforms for online currency exchange provide sophisticated security measures to safeguard users’ financial and personal information. Encrypted data transmission, two-factor authentication, and anti-fraud systems are examples of these measures.
Moreover, a number of platforms for online currency exchange and money transfer service are licensed and regulated by government agencies. In order to guarantee the safety and security of the transactions made by their customers, they must abide by strict standards and regulations. In India, for instance, all foreign exchange transactions are governed by the Reserve Bank of India, and only authorised dealers are permitted to provide these services. Zenith Forex Online is one of those platforms licensed and regulated by the RBI.
Conducting research and selecting the best foreign exchange platform are always essential. Be wary of any platform that seems too good to be true or asks for too much personal information; instead, look for platforms with positive ratings and reviews from other users.
The possibility of being conned or ripped off is yet another potential cause for concern when Buying & Selling Foreign Currency online. Sadly, there are always dishonest individuals and organizations in India’s Largest Foreign Exchange Marketplace seeking to exploit victims who are unaware of their predicament. Be careful when dealing with unfamiliar websites or individuals offering online currency exchange services to protect yourself. Unless you are absolutely certain that the website or individual is genuine, do not provide any personal or financial information. Do some research or talk to a reputable financial advisor if you’re not sure.
Here are some Key points You should definitely look for whenever you Buy & Sell Foreign Currency.
The Provider’s Reputation:Make sure you investigate the Forex Service provider’s reputation before making a foreign currency purchase online. Utilize reputable review platforms like Trustpilot, Yelp, or Google Reviews to examine their ratings and reviews. You’ll get a sense of the provider’s dependability from this.There are reputable websites and providers that provide online currency exchange and money transfer services, which is one of the main reasons why it is safe to buy foreign currency online. The legitimacy and trustworthiness of these providers and websites are guaranteed by their license and certifications. You can be sure that your money is safe when you buy foreign currency using these websites and providers. Additionally, you can rest assured that you are getting the most secure transactions and the best exchange rates available.
Security and encryption:When you want to transfer money abroad online or perform online currency exchange, it is wise to initiate the transaction using encryption and security measures. Make sure the provider has adequate encryption and security measures in place before you conduct any transaction.The availability of secure payment methods is yet another reason why purchasing foreign currency online is risk-free. Online bank transfers, e-wallets, and credit/debit cards are just a few of the payment options available on the majority of websites and providers. Advanced encryption technologies protect your financial and personal information from hackers and other cybercriminals with these payment methods.
Secret Expenses and Charges:Before you Buy & Sell Foreign Currency, it is imperative that you carefully review the terms and conditions. This is on the grounds that a few suppliers might have hidden expenses and charges, which can fundamentally build the complete expense of the exchange.You can anticipate a high level of transparency when purchasing foreign currency online. The majority of providers and websites disclose their charges, fees, and exchange rates upfront. Additionally, they detail their terms and conditions, letting you know exactly what you’re getting into. When you buy foreign currency online, you can make an informed decision knowing that there will be no unexpected costs or fees.
Customer Support:The majority of websites and service providers offer customer support services in the event that you have any issues while purchasing foreign currency online. These services are available 24 hours a day, 7 days a week and can be accessed via email, phone, or live chat. Any time you have a question or concern, you can talk to a representative of customer support.
In conclusion, for individuals seeking the best foreign exchange service for Tours and Travels, business, or personal reasons, buying foreign currency online can be a secure and convenient option. However, as with any financial transaction, it is essential to exercise caution and due diligence to safeguard your financial and personal information. You can enjoy the convenience and benefits of online currency exchange at Zero Margin Forex Rates with peace in mind and if you select a reputable and dependable platform and keep an eye out for potential scams and fraud.
Source By: https://blog.zenithforexonline.com/is-it-safe-to-buy-foreign-currency-online/
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Centfx
Ahead of reports on Indian WPI and US retail sales, USD/INR gains momentum.
Due to the rising US Treasury bond rates and the strengthening US dollar (USD), the Indian Rupee (INR) is trading negatively on Thursday. Given the foreign outflows and the stronger-than-expected US CPI report for February, which indicated that the Federal Reserve (Fed) would hold off on raising interest rates longer, the downside of USD/INR is probably limited in the immediate future. India ranks third in the world for oil consumption, hence the increase in oil prices also has an impact on the INR. For new inspiration, market participants watch India's Wholesale Price Index (WPI) of Food, Fuel, and Inflation on Thursday. According to estimates, the Indian WPI Inflation will decrease from 0.27% YoY to 0.25% in February. US Retail Sales will be the main event on the US schedule on Thursday. Later in the day, there will also be due dates for business inventories, the Producer Price Index (PPI), and the customary weekly Initial Jobless Claims.
centfx #forexdaily #forexdaytrader #forexforbeginners #forexfamily
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Rameshwaram Cafe Blast: Bengaluru Rameshwaram Cafe Blast Highlights News Updates: It was a low intensity blast, timer was fixed for blast to happen after 1 hour, says K'taka Deputy CM D K Shivakumar
New Post has been published on https://petn.ws/yeQK0
Rameshwaram Cafe Blast: Bengaluru Rameshwaram Cafe Blast Highlights News Updates: It was a low intensity blast, timer was fixed for blast to happen after 1 hour, says K'taka Deputy CM D K Shivakumar
12:07:52 AM IST, 02 March 2024 Here’s the wrap: Top highlights of the day India’s forex reserves up by $2.98 bn to $619.07 bn as of Feb 23 PM lays foundation stone for development projects worth over Rs 7,200 cr in West Bengal Bengaluru Cafe Blast: Timer was fixed for blast to happen after 1 […]
See full article at https://petn.ws/yeQK0
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