No merit in holding huge forex reserves - The Hindu ...

The World This Week 10th July 2020 – 17th July 2020

Indian Equity Summary-
· Sensex ended higher by 1.2 percent as the bullish trend persisted for the fifth consecutive week in the domestic equity market ,on the back ofØ positive global cues and optimism over the development of Covid-19 vaccine .The focus is now turning to Q1FY21 earning season and more importantly for guidance and viewpoints of management.
· Going forward, global factors like development on the US -China relationship front , any resurgence of Covid-19 cases globally, as economiesØ have started opening up ; will continue to dictate the trend of the domestic equity market. We expect the trading range for Nifty between 10800-11200 in the near term.
Indian Debt Market-
· The bond prices fell as the yield on the latest 10-year benchmark 5.79% 2030 paper settled at 5.80% on Jul 17 compared with 5.76% on Jul 10.Ø
· Reserve Bank of India announces the auction of three Government of India 91day, 182 day and 364 day Treasury Bills for an aggregate amount ofØ ₹35,000, to be conducted on 22nd July 2020.
· State Governments announced to sell securities by way of an auction to be conducted on 21th July 2020, for an aggregate face value of ₹ 9,000 Cr.Ø
· We expect that RBI will be in wait and watch mood before taking any major decision of rate cut on the back of recent inflation print.Ø
· We expect the 10 year benchmark yield to trade between 5.80-6.05% in near term.Ø
Domestic News
· India’s retail trade has suffered a business loss of about Rs 15.5 lakh crore in past 100 days due to the COVID-19 pandemic as per theØ Confederation of All India Traders (CAIT).
· The Foreign Direct Investment (FDI) from the US to India has crossed the $40 billion mark as on year to date, reflecting the growing confidence ofØ American companies in the country.
· Forex reserves rose by $3.1 billion on a WoW basis to hit a record high of $516.36 billion for the week ended July 10, according to Reserve BankØ of India (RBI).
· According to the latest data released by the Ministry of StatisticsØ & Programme Implementation (MoSPI), India’s retail inflation(CPI) grew to 6.09% in the month of June as against the prior released figure of 5.84 in April for the month of March.
International News
· Hong Kong's April-June unemployment rises to 6.2%, being the highest in over 15 years.Ø
· Japan’s exports plunged 26.2% in June while Imports fell by 14.4% in June on a year on year basis , as per the data released byØ Ministry of Finance (MOF).
· Foreign direct investment (FDI) into China fell 1.3% in the first half of this year from a year earlier to 472.18 billion yuan ($67.47Ø billion)as per China’s commerce ministry.
· Gross domestic product (GDP) of China rose to 3.2% in the second-quarter from a year earlier as per the National Bureau ofØ Statistics, faster than the 2.5% forecast by analysts in a Reuters poll, with the easing of lockdown measures and ramping up of stimulus by policymakers to combat the virus-led downturn.
· US GDP is expected to contract by an annualised rate of 37% in the Q2 2020 and by 6.6%for 2020 as a whole as per theØ International Monetary Fund (IMF) staff.
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Money, luxury and fame – the new super-rich of India  DW ... Indian Rupee Falling - Find out the reasons - Current ... #ForexReserves India's Forex Reserves rose to record high ... India's reserve is $ 417 billions and Pakistan is crying ... India has a huge foreign reserve ($400) & Bangladesh is ... Pakistani media on India latest India_Forex_Reserve_On ... India's Forex Reserves surge to all time high of $493.48 ...

Weekly Statistical Supplement WSS - Extract. 06 Nov 2020; Foreign Exchange Reserves: 9 kb: 189 kb: 30 Oct 2020; Foreign Exchange Reserves For the week ended Feb. 7, India’s total forex reserves rose to $473 billion from $471.3 billion the week before, Reserve Bank of India (RBI) data shows. China, Japan, Russia, Switzerland, Saudi Arabia, Taiwan, Hong Kong have more forex rseserves than India. In fiscal year 2019, the value of foreign exchange reserves in India was approximately 413 billion U.S. The latest figures on the state of Indian foreign exchange reserves indicate a boom. The market is fastly growing, with figures rising to all-time highs. by NE NOW NEWS. GUWAHATI , November 11, 2019 1:59 pm. Share on Facebook Share on Twitter. India’s Forex Reserves: Update on Incredible Dynamics. India is seeing a boom in its foreign exchange market, and the country’s respective reserves ... India’s forex reserves have not enhanced rupee stability. Lower level of reserves, allowing for a two-way fluctuation, will help Foreign Exchange Reserves in India increased to 560720 USD Million in October 30 from 560532 USD Million in the previous week. Foreign Exchange Reserves in India averaged 239317.46 USD Million from 1998 until 2020, reaching an all time high of 560720 USD Million in October of 2020 and a record low of 29048 USD Million in September of 1998. This page provides the latest reported value for ... Forex reserves in the first week of 2018 stood at $411 billion, representing a fall of 2.96 per cent as per the latest forex figures disclosed by the RBI. Forex reserves provide a buffer to the ...

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Money, luxury and fame – the new super-rich of India DW ...

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