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India's forex reserves contract to $562.81 billion from $563.49 billion

India's forex reserves contract to $562.81 billion from $563.49 billion

Dec 31, 2022, at 02:57 am

Mumbai/IBNS: India’s forex reserve contracted for the second consecutive week to $562.81 billion as on December 23, 2022, from $563.499 billion owing to the sharp rise in the cost of imported goods, Reserve Bank of India (RBI) said on Friday.

Rupee finding its own course, forex reserves adequate: Nirmala Sitharaman dismisses opposition's concern over economic crisis

Rupee finding its own course, forex reserves adequate: Nirmala Sitharaman dismisses opposition's concern over economic crisis

Aug 03, 2022, at 04:54 pm

New Delhi: A few days after former RBI Governor Raghuram Rajan and ex-NITI Aayog Vice-Chairman Arvind Panagariya dismissed concerns over the possibility of India facing a Sri Lanka-like economic crisis, Finance Minister Nirmala Sitharaman Tuesday told Rajya Sabha the rupee's fall against the USD was not alarming and the unit has performed better than its peers.