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Why in the news? India’s forex reserves increased by $1.5 billion to $658.1 billion after an eight-week decline, driven by RBI interventions and fluctuating foreign portfolio investments, enhancing economic stability. Forex Reserves Surge After Eight-Week Decline: India’s foreign exchange reserves increased by $1.5 billion, reaching $658.1 billion. The surge follows an eight-week decline in reserves, …
Read MoreRelevance: GS – 3 – Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment. Why in the News? The Reserve Bank of India (RBI) has retrieved approximately 130 metric tonnes of gold previously held in safe custody with the Bank of England over the last two-and-a-half years. This strategic shift …
Read MoreWhy in the news? Commerce Minister Piyush Goyal announced India’s forex reserves exceeding $700 billion, highlighting the nation’s economic growth and commitment to sustainable practices during the SHRM India Annual Conference 2024. About India’s Economic Growth and Forex Reserves: Ministerial Announcement: Commerce and Industry Minister Piyush Goyal announced that India’s foreign exchange reserves have exceeded …
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