Latest news with #non-US
The Print
4 hours ago
- Business
- The Print
India's forex reserves rise USD 2.29 bn to USD 698.95 bn
Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. The overall reserves had increased by USD 5.17 billion to USD 696.65 billion for the previous reporting week ended June 6. Mumbai, Jun 20 (PTI) India's forex reserves rose USD 2.294 billion to USD 698.95 billion for the week ended June 13, the RBI said on Friday. For the week ended June 13, foreign currency assets, a major component of the reserves, rose by USD 1.739 billion to USD 589.426 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves were up by USD 428 million to USD 86.316 billion during the week, the RBI said. The Special Drawing Rights (SDRs) also rose by USD 85 million to USD 18.756 billion, the central bank said. India's reserve position with the IMF also inched up by USD 43 million at USD 4.452 billion in the reporting week, the apex bank data showed. PTI AA SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
NDTV
6 hours ago
- Business
- NDTV
India's Forex Reserves Rise $2.29 Billion To $698.95 Billion
Mumbai: India's forex reserves rose USD 2.294 billion to USD 698.95 billion for the week ended June 13, the RBI said on Friday. The overall reserves had increased by USD 5.17 billion to USD 696.65 billion for the previous reporting week ended June 6. Forex reserves had touched an all-time high of USD 704.885 billion in end-September 2024. For the week ended June 13, foreign currency assets, a major component of the reserves, rose by USD 1.739 billion to USD 589.426 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. The gold reserves were up by USD 428 million to USD 86.316 billion during the week, the RBI said. The Special Drawing Rights (SDRs) also rose by USD 85 million to USD 18.756 billion, the central bank said. India's reserve position with the IMF also inched up by USD 43 million at USD 4.452 billion in the reporting week, the apex bank data showed.
Time of India
7 hours ago
- Business
- Time of India
Forex boost: India's reserves climb by $2.29 billion to $698.95 billion; led by gains in foreign currency assets and gold
AI image means for representation only India's foreign exchange reserves rose by $2.294 billion to $698.95 billion in the week ended June 13, according to data released by the Reserve Bank of India (RBI) on Friday. This follows a $5.17 billion increase in the previous week, taking the total gains over two weeks to nearly $7.5 billion, PTI reported. The all-time high for India's forex reserves was $704.89 billion, recorded at the end of September 2024. According to the RBI, foreign currency assets (FCAs) — the largest component of the reserves — rose by $1.739 billion to $589.43 billion during the latest week. These assets reflect the impact of movement in non-US currencies such as the euro, yen and pound held in the reserves. The gold reserves increased by $428 million to $86.32 billion, while Special Drawing Rights (SDRs) rose by $85 million to $18.76 billion. India's reserve position with the IMF also edged up by $43 million to $4.45 billion, the RBI data showed. Forex reserves act as a buffer to stabilise the rupee and meet India's external payment obligations. The current rise comes amid steady capital inflows and lower crude oil prices. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
9 hours ago
- Business
- Time of India
India's forex reserves rise to $698.95 billion, up $2.29 billion as of June 13
India's forex reserves increased by $2.29 billion to $698.95 billion for the week ending June 13, data by the Reserve Bank of India showed on Friday. India's foreign exchange reserves stood at $696.66 billion as of June 6, up $5.17 billion from the previous week. The forex reserves had touched an all-time high of $704.885 billion in end-September 2024. For the week ending on June 13, foreign currency assets, a major component of the reserves, increased $1.73 billion to $589.42 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Typically, the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee. Live Events The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
The Star
a day ago
- Business
- The Star
Glove sector hit by soft demand and higher costs
BIMB Securities Research cautioned that the second half of 2025 will likely see flat sales volumes and stagnant average selling prices. PETALING JAYA: The outlook for Malaysia's rubber gloves sector is not looking very positive at the moment, according to BIMB Securities Research. In a report, it cautioned that the second half of 2025 (2H25) will likely see flat sales volumes and stagnant average selling prices (ASPs). 'ASPs are expected to show minimal improvement, remaining flat amid global oversupply and persistent price undercutting by Chinese glove manufacturers in non-US markets,' the research house said. Adding to the pressure, Chinese companies are relocating parts of their production to South-East Asia – Indonesia, Vietnam and Cambodia – to circumvent tariffs while maintaining cost competitiveness. Given this competitive landscape and weak US demand momentum, the research house said meaningful price recovery appears unlikely. After frontloading activities by US customers in January and February, BIMB Securities Research said order volumes have since slowed amid inventory buildup. 'Looking ahead to 2H25, we anticipate only a small increase in demand as customers remain cautious amid ongoing tariff uncertainties,' the research house said. It said minimum wage hikes have raised labour costs, and despite easing natural gas prices, profitability remains fragile. With that, the research house has maintained its 'neutral' call on the sector, citing structural issues and global trade uncertainties, with limited upside catalysts. 'We have a 'hold' on Hartalega Holdings Bhd , Kossan Rubber Industries Bhd and Top Glove Corp Bhd and 'non-rated' for Supermax Corp Bhd ,' it added.
