[ad_1] MUMBAI: India’s forex reserves dropped by $1.318 billion to $593.749 billion for the week ended June 9, the Reserve Bank of India said on Friday.The overall reserves had jumped by $5.93 billion to $595.067 billion for the previous reporting week.It can be noted that in October 2021, the country’s forex kitty had reached an … Read more
[ad_1] The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments. [ad_2] Source link
[ad_1] MUMBAI: India’s forex kitty jumped $5.929 billion to $595.067 billion for the week ended June 2, the Reserve Bank said on Friday. The reserves had dropped for two consecutive weeks and declined by $4.34 billion to $589.14 billion in the previous reporting week. It can be noted that in October 2021, the country’s forex … Read more
[ad_1] ISLAMABAD: Pakistan‘s Finance Minister Ishaq Dar is set to unveil on Friday Rs 14.5 trillion annual budget for 2023-24 that includes a staggering 66 per cent hike in the discretionary budget of parliamentarians, a decision that might push the cash-strapped country towards a looming default due to shrinking foreign reserves.Pakistan government on Wednesday approved … Read more
[ad_1] KARACHI: Pakistani Prime Minister Shehbaz Sharif is hopeful of finalising a deal with the International Monetary Fund (IMF) this month, he said in an interview with Turkish news agency Anadolu. The release of pending bailout funds under the 9th IMF review are crucial for Pakistan to resolve an acute balance of payments crisis. Reserves … Read more
[ad_1] MUMBAI: India’s foreign exchange reserves went up by USD 1.657 billion to USD 586.412 billion, according to the data available with the RBI. The country’s forex reserves gained for a second consecutive week and witnessed a level not seen in more than nine months.Last week, the overall reserves surged by USD 6.306 billion to … Read more
[ad_1] WASHINGTON: Finance minister Nirmala Sitharaman said on Wednesday that there is a need to augment present global efforts, including those of the G20 to address growing debt distress across the globe, as she stressed on debt transparency and information-sharing on this issue.Sitharaman made the remarks at a Global Sovereign Debt Roundtable meeting which was … Read more
[ad_1] WASHINGTON: India is expected to have a stable debt-to-GDP ratio going forward, a senior official from the International Monetary Fund said on Wednesday and recommended rationalization and simplification of Goods and Services Tax (GST).According to Paolo Mauro, deputy director of the IMF Fiscal Affairs Department, there will be a gradual resumption of the rise … Read more
[ad_1] Commerce & industry minister Piyush Goyal spent the day meeting French businesses and key government officials, including French minister Oliver Becht. Excerpts from a conversation: The IMF has lowered its growth projection for India. In your interactions do you sense companies are slowing down investment plans, given the issues in the US & Europe?What … Read more
[ad_1] IMF had earlier projected India’s growth as 6.1% for the current fiscal. Washington: The International Monetary Fund (IMF) on Tuesday lowered India’s economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World … Read more