Reserves Financial News

RBI) can spend up to $30 billion from the over $594 billion of forex reserves to defend the domestic currency and even though the country will be left sufficient reserves to take care of import bills for next ten months, reported PTI. The German brokerage said the Indian rupee is trading close to around ₹83.30, its all-time high against the US dollar, and the Reserve Bank is actively intervening in the forex market to curtail volatilities.

fastest-growing economy in the world? Not India. It is Guyana. The country's GDP is expected to grow 38% in 2023, after registering growth of 62% in 2022 and averaging over 30% in the two years before that.

foreign exchange (forex) reserves fell to an 11-week low of $593.90 billion as of September 8 - a decrease of $5 billion from the previous week, Reserve Bank of India's (RBI) data showed on Friday, September 15. Forex reserves had risen by $4 billion in the week to September 1. In the previous reporting week, the kitty had jumped $4.039 billion to $598.897 billion.

foreign exchange reserves decreased by $4.992 billion to $ 593.904 billion for the week ending September 8, the latest data by the Reserve Bank of India (RBI) showed on Friday. Previously, forex reserves were up by $4.039 billion to $598.897 billion for the week ended on September 1. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $4.27 billion to $526.43 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves dipped by $554 million to $44.38 billion, while SDRs were also down by $134 million to $18.06 billion. Reserve position in the IMF decreased by $39 million to $5.03 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

foreign exchange or forex reserves jumped by $4.039 billion to $598.897 billion for the week ended September 1, data from the Reserve Bank of India (RBI) showed on Friday, September 8. With this, forex reserves halted a two-week losing streak and an increase of $4.04 billion from the previous week, recorded the biggest gain in nearly two months. In the previous reporting week, the overall reserves had dropped by $30 million to $594.858 billion.

foreign exchange reserves remained largely unchanged at $594.86 billion as of August 25, data from the Reserve Bank of India (RBI) showed on Friday, September 1. Forex reserves fell by a marginal $30 million for the week, compared to a $7.27 billion drop in the week ended August 18, according to the central bank's data.

foreign exchange reserves are down by $30 million at $594.85 billion for the week ending August 25, latest data by the Reserve Bank of India (RBI) showed on Friday. Previously India’s Forex reserves for the week ending August 18 dipped by $7.28 billion to $594.90 billion. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) dropped by $538 million to $527.24 billion. Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves surged by $530 million to $44.35 billion, whereas SDRs decreased by $11 million to $18.19 billion. Reserve position in the IMF decreased by $12 million to $5.06 billion. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of USD 645 billion.

foreign exchange reserves dropped by $7.273 billion to $594.888 billion for the week ended August 18, the Reserve Bank of India (RBI) data showed on Friday, August 25. Forex reserves posted their steepest weekly fall in more than six months, according to the data.

Stablecoin issuer Tether posts its total assets at $86.1 billion as it maintains its leading market share despite growing competition and uncertain regulatory conditions.

Supreme Court on Monday reserved its order on the bail plea of former Mumbai Police officer Pradeep Sharma, who was arrested in connection with the Antilia bomb scare case and the killing of businessman Mansukh Hiran. On February 25, 2021, an explosives-laden SUV was found near industrialist Mukesh Ambani's residence 'Antilia' in south Mumbai. Businessman Hiran, who was in possession of the SUV, was found dead in a creek in neighbouring Thane on March 5, 2021.

₹350 crore to the creditors of the grounded airline. The tribunal will pronounce the order on 28 August. During the proceedings, former union minister, and senior lawyer Ravi Shankar Prasad, representing JKC, stated that the consortium is prepared to pay ₹100 crore to the creditors led by State Bank of India by 31 August and the remaining ₹100 crore by 30 September.

foreign exchange (forex) reserves snapped a three-week losing streak and stood at $602.16 billion as of August 11, data from the Reserve Bank of India (RBI) showed on Friday. The reserves rose by $700 million from the week earlier, having fallen by a total of $7.6 billion in the prior three weeks. According to the weekly statistical supplement released by the RBI, foreign currency assets (FCAs) increased by $999 million to $534.40 billion.

foreign exchange reserves are up by $708 million to $602.161 billion for the week ending August 11, latest data by the Reserve Bank of India (RBI) showed on Friday. According to the Weekly Statistical Supplement released by the RBI, Foreign currency assets (FCAs) increased by $999 million to $534.40 billion.

foreign exchange reserves dipped by $2.4 billion in the week ending August 4, in sync with dollar outflows as cautious overseas investors offloaded their investments in local equity market. The reserves stood at $601.5 billion at the end of the reporting period, Reserve Bank of India data showed.

In the most recent episode of The Market Report, analyst and writer Marcel Pechman delves into the topic of crypto exchange Binance’s proof-of-reserves. This report reveals a significant decline in USD Coin (USDC) balances, plummeting from $3.4 billion on March 1 to a mere $23.9 million by May 1. 

Binance's latest proof-of-reserves (PoR) report has come under scrutiny following its depleting USDC reserves after the collapse of Silvergate Bank.

New Delhi: In a testament to India’s growing significance in the global energy landscape, top-tier international energy giants have shown enthusiasm in participating in Phase II of the country’s Strategic Petroleum Reserves (SPR) project, said minister of state in the ministry of petroleum & natural gas, Rameswar Teli. In a written reply in the Lok Sabha, the minister said, “During the two Road shows conducted, global trading companies like Trafigura, BP, SKE&C, Petrochina, GASP, Vopak, Geostock, Monnet, Hyundai, Gulf Energy, Natixis, Vitol, Glencore, DBS, KNOC, Lloyd’s Register, IC-Group, ANU Resources, Shell, Parson Brinkerhoff, Sweco AB, SKANSKA etc., evinced interest in participating in Phase II SPR project." The underground SPR storages, located in Visakhapatnam, Andhra Pradesh (1.33 MMT), Mangaluru (1.5MMT), and Padur, Karnataka (2.5 MMT), have a combined capacity of 5.33 million metric tonne (MMT) of crude oil.

Supreme Court on Wednesday reserved its verdict on pleas of Tamil Nadu minister V Senthil Balaji and his wife Megala challenging the Madras High Court order upholding his arrest in a money laundering case. «The arguments heard. Judgement reserved,» a bench comprising justices A S Bopanna and M M Sundresh said after Solicitor General Tushar Mehta, appearing for the Enforcement Directorate (ED), and senior advocate Mukul Rohatgi, representing the minister, concluded their submissions. Presenting its arguments, the anti-money laundering agency said it has the requisite power to arrest and interrogate the accused minister in its custody in order to collect evidence and ensure corroboration. On the other hand, Rohatgi, assisted by lawyer Amit Anand Tiwari, said ED has no vested right to interrogate an accused in custody under the Prevention of Money Laundering Act (PMLA). Balaji, who continues to be a minister without portfolio in the Tamil Nadu government even after his arrest on June 14, and his wife assailed a Madras High Court order upholding his arrest by the probe agency in a money laundering case arising out of the alleged cash-for-jobs scam in the state's transport department.

Tether, said on Monday its assets rose 5.7% to $86.5 billion in the second quarter of 2023, while it made more than $1 billion «operational profit», a 30% increase on the previous quarter. Stablecoins are a type of cryptocurrency which aim to keep a constant value and are usually backed by traditional assets such as dollars. Tether says there is $83.8 billion of its coin in circulation, which makes it the third largest cryptocurrency overall, according to market tracker CoinGecko. Tether's reserves report, signed off by accountants BDO Italia, says Tether's assets rose to $86.5 billion in the three months to June 30, 2023, up 5.7% from the previous quarter and a record high, according to previous reports on its website. Tether is a key cog in global digital asset trading, with many crypto-to-crypto trades denominated in the stablecoin.

Stablecoin issuer Tether’s consolidated reserves report for the second quarter of 2023 shows that the company has around $3.3 billion in excess reserves, while profits increased 30% from last quarter to over $1 billion.

By Elizabeth Howcroft