Rupee declined to an all time low of 84.41 against the US dollar on Thursday, affected by continuous foreign fund withdrawals and robust dollar requirements from investors. According to currency market specialists, sustained inflation and substantial foreign capital outflows are primarily responsible for the downward movement in the USD/INR pair.In early trade at the interbank…
India’s overall gold reserves, managed by the Reserve Bank of India, stood at 854.73 metric tonnes as per the apex bank’s latest half-yearly report on the country’s foreign exchange reserves.The report, released on Tuesday, revealed that a major portion of the gold reserve, amounting to 510.46 metric tonnes, is stored domestically within India while the…
Das has repeatedly said the RBI wants to see inflation settling around the 4% target level on a durable basis before considering a cut. India’s central bank governor Shaktikanta Das said an interest rate cut at this stage would be “very, very risky” and he’s in no hurry to join the wave of easing by…
