4 neighbouring countries, Iran, Russia trading in INR with India: Govt
With Russia, India has initiated "rupee trade mechanism" for trade in INR; with Iran, bilateral trade payments arrangement was adopted in 2018, says govt
With Russia, India has initiated "rupee trade mechanism" for trade in INR; with Iran, bilateral trade payments arrangement was adopted in 2018, says govt
"India faced a balance of payment crisis, and today we have a healthy surplus," says Anurag Singh Thakur.
Two consecutive quarters of low gold purchases by the Indian central bank hints it is cooling-off on gold of late
The BIS Triennial Central Bank Survey of 2022 reports that only 1.62% of global transactions are settled in Indian rupee
The CAD stands for the measurement of any country’s trade when the value of the goods and services imported exceeds the value of goods and services exported.
This fiscal, as of Dec 2022, forex reserves have declined sharply to $562.8 billion.
The report notes that the current monetary system has repeatedly been criticised by senior policy makers, due to the stresses created outside the United States from major shifts in US monetary policy.
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
US-led dollar bloc uses policy tightening to hit back at commodity producers led by Russia. Indian economy feels the heat.
India’s forex reserves continue to decline with the RBI deploying the kitty to defend the rupee amid pressures caused majorly by global developments.