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India’s forex reserves down $2.06 billion

Published

9 years ago

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rbi

Mumbai: India’s foreign exchange reserves decreased by $2.06 billion to $335.72 billion for the week ended March 13, Reserve Bank of India (RBI) data showed.

According to analysts, the Indian reserves fell on the back of a rally in the US dollar and that major non-dollar currencies were trading at their weekly lows. The Indian reserves hold nearly 20-25 percent of the non-dollar currencies.

“The fall in foreign reserves can be attributed to a sharp rally in the US dollar. This had an effect on the major non-dollar currencies which were trading to their weekly lows,” Anindya Banerjee, senior manager, currency derivatives, Kotak Securities told.

For the previous week ended March 6, the reserves had decreased by $286.3 million to $337.79 billion. However, for the week ended Feb 27, the total forex reserves had increased by $3.88 billion to $338.07 billion.

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves declined by $1.97 billion at $310.34 billion in the week under review.

The foreign currency assets had risen by $122.4 million at $312.32 billion in the week ended March 6. For the week ended Feb 27, the foreign currency assets had increased by
$3.90 billion at $312.20 billion.

The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies such as the pound sterling, euro and yen held in reserve.

India’s reserve position with the International Monetary Fund (IMF) in the week ended March 13 decreased by $27.1 million and stood at $1.58 billion.

The value of special drawing rights (SDRs) was lower by $60.8 million in the week under review at $3.96 billion.

Gold reserves were static at $19.83 billion. The gold reserves had plunged by $346.2 million in the week ended March 6.

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Apple is giving a huge discount on its gadgets: Details inside

Published

2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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