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MUMBAI: Total outward remittances under the Liberalised Remittance Scheme (LRS) witnessed a contraction in FY26, dropping about 2% to $29 billion from the $29.6 billion recorded in FY25. This downward trajectory highlights that visa restrictions are impacting overseas education spending, which plummeted 20.9% from $2.9 billion to $2.3 billion, alongside a 3.1% dip in international…
India’s foreign exchange reserves jumped by $6.295 billion to $696.988 billion during the week ended May 8, helped largely by a sharp rise in gold reserves, PTI reported citing Reserve Bank data released on Friday.The overall forex kitty had declined by $7.794 billion to $690.693 billion in the previous reporting week.India’s reserves had touched an…
India’s reserves have fallen 5.2% to $691 billion. (AI image) Philippines and India are the Asian countries that have seen the highest percentage losses to their foreign exchange reserves as a result of the ongoing US-Iran conflict that has sent global crude oil prices to above $100 per barrel levels. Foreign-exchange reserves across Asia are…
Since the outbreak of the Iran conflict, India’s forex reserves have declined by nearly $38 billion, marking the steepest drop among regional economies. India has among the world’s largest foreign exchange reserves, and they are still robust enough to defend the rupee from its free fall during the ongoing depreciation phase due to the Middle…
When India imports goods (such as gold), it pays for it in dollars. The more a product is imported (both in value and quantity), the more the requirement for dollars. (AI image) Gold may be a safe haven asset but India’s love for the yellow metal is adding pressure to its foreign exchange reserves buffer…
The government is expected to begin consultations with various stakeholders, including industry representatives. (AI image) The Middle East conflict’s ripple effects are being felt globally and the Indian economy is also increasingly coming under pressure. Prime Minister Narendra Modi’s strong appeal urging citizens to reduce fuel consumption and avoid non-essential imports such as that of…
India is preparing for potential impacts of the West Asia war. The government plans consultations with industry on fuel and forex conservation measures. Corporate India is now aligning with Prime Minister Narendra Modi’s call to encourage work-from-home (WFH), reduce non-essential travel, and conserve foreign exchange. Executives across conglomerates, consulting firms, financial services, and technology companies…
Jewellery industry body All India Jewellers & Goldsmith Federation (AIJGF) on Monday urged the government to focus on domestic gold mobilisation and recycling instead of discouraging gold purchases, warning that any sharp fall in demand could hurt livelihoods linked to the sector, PTI reported.The federation’s comments came a day after Prime Minister Narendra Modi appealed…
NEW DELHI: The central government is weighing emergency measures to bolster its foreign-exchange reserves amid the economic fallout from the US-Israel-Iran war, with officials considering steps such as raising fuel prices and restricting non-essential imports, including gold and electronic goods, Bloomberg reported citing people familiar with the matter.The report said that officials from the Prime…
India’s forex reserves rise to $658.09 billion India’s foreign exchange reserves declined by $7.794 billion to $690.693 billion during the week ended May 1, according to data released by the Reserve Bank of India (RBI) on Friday.The reserves had fallen by $4.82 billion in the previous reporting week ended April 24, taking the overall forex…
