India Now Fourth Largest Holder of Forex Reserves - Investing.com India
India Now Fourth Largest Holder of Forex Reserves - Investing.com India |
- India Now Fourth Largest Holder of Forex Reserves - Investing.com India
- FOREX-Dollar firm amid U.S. yield spike; bitcoin hovers around $60000 - Investing.com India
- : Vanguard is beefing up its ESG staffing – are more sustainable-investing funds on the way? - ForexTV.com
| India Now Fourth Largest Holder of Forex Reserves - Investing.com India Posted: 14 Mar 2021 09:47 PM PDT  By Aditya Raghunath Investing.com -- India is now the world's fourth-largest holder of foreign currency holdings at the end of March 5, according to data released by the RBI (Reserve Bank of India). India had $580.3 billion as forex reserves beating out Russia that had $580.1 billion on March 5. India's reserves actually fell by $4.3 billion from the week ended February 26. India beat Russia as it continued to accumulate dollars in order to cushion itself against any sudden currency outflows. A Bloomberg report says, "India's reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market and foreign direct investment." A strong reserve position gives countries and investors confidence that a country will be able to repay its debt obligations. According to data released by the RBI last week, FDI (foreign direct investment) in India rose by 40% to $52.9 billion from April to December 2020. Gross FDI rose over 22% to $67.5 billion in the same period. "India remained the bright spot in an otherwise shadowy year for FDI, as global inflows plunged by 42% year-on-year in 2020 ($859 billion), the lowest level since the 1990s, according to UNCTAD's 'Investment Trends Monitor' released on January 24. India clocked a 13% ($57 billion) year-on-year rise, the highest growth among countries, boosted by flows into the digital sector," the RBI said.  |
| FOREX-Dollar firm amid U.S. yield spike; bitcoin hovers around $60000 - Investing.com India Posted: 14 Mar 2021 09:38 PM PDT  * Dollar holds gains after hitting one-week low last week * Euro flat after posting first weekly gain in three * Focus on Federal Reserve, BoJ meetings this week * Graphic: World FX rates https://tmsnrt.rs/2RBWI5E (Adds analyst comment; updates prices) By Kevin Buckland and Sagarika Jaisinghani TOKYO, March 15 (Reuters) - The U.S. dollar held firm on Monday after bouncing off a one-week low last week, supported by a spike in benchmark Treasury yields to more-than-one-year highs as inflation fears continued to smoulder. hovered around $60,000 after surging to a record high of $61,781.83 over the weekend. Reuters reported on Monday that India will push ahead on a proposal to ban cryptocurrencies, in a potential blow to millions of investors piling into the red-hot asset class. greenback rose 0.1% against the yen to 109.125 yen , drifting near its highest since June 2020. The euro was largely flat at $1.19485 after rising last week for the first time in three weeks. Market participants have grown wary in recent weeks that massive fiscal stimulus and pent-up consumer demand could lead to a jump in inflation as expanding vaccination campaigns bring an end to lockdowns. base scenario is that you see the economic recovery continuing and the vaccine roll-out keeps going and the infection situation improves," said Masafumi Yamamoto, chief currency strategist at Mizuho Securities. "Both the dollar and Treasury yields are on the uptrend and there's no big change in that view. The dollar is especially likely to firm against the yen and the euro in the near term, but it doesn't strengthen necessarily against the commodity currencies because commodity prices are rising." U.S. producer prices had their biggest annual gain in nearly 2-1/2 years, data showed on Friday, while the country's economy is set to get a massive shot in the arm from President Joe Biden's $1.9 trillion stimulus package. this week will be on the U.S. Federal Reserve's two-day policy meeting although expectations are running low for the central bank to announce major policy changes. The Bank of Japan is also set to hold its policy meeting later in the week. The =USD , which tracks the U.S. currency against six major peers, held around 91.697 in Monday's Asia session after climbing from near a one-week low of 91.364 at the end of last week. Benchmark 10-year Treasury yields were at 1.6320% on Monday, close to Friday's top of 1.6420%. The greenback has also been supported by a paring of bets for its decline, with speculators cutting net short positions to the lowest since mid-November in the week ended March 9. Australian dollar - viewed widely as a liquid proxy for risk appetite - fell 0.2% to $0.77465, extending Friday's 0.4% loss. The Canadian dollar was largely flat, after earlier strengthening to C$1.2455 for the first time in three years. On Friday, a bigger-than-expected domestic jobs gain supported the view that the Bank of Canada would reduce quantitative easing purchases next month. was up about 2% at $60,205.56 after more than doubling in value this year. India's potential ban on cryptocurrencies comes just as bitcoin and its rivals gained credibility following endorsements from big investors such as BlackRock Inc (NYSE: ) BLK.N and corporate leaders including Tesla Inc's Elon Musk and Twitter Inc (NYSE: )'s TWTR.N Jack Dorsey. ======================================================== Currency bid prices at 0340 GMT Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid Previous Change Session Euro/Dollar EUR=EBS $1.1953 $1.1953 -0.01% -2.18% +1.1968 +1.1943 Dollar/Yen JPY=D3 109.1250 109.0200 +0.14% +5.69% +109.1900 +108.9300 Euro/Yen EURJPY= 130.43 130.29 +0.11% +2.77% +130.4500 +130.2800 Dollar/Swiss CHF=EBS 0.9290 0.9296 -0.04% +5.04% +0.9298 +0.9278 Sterling/Dollar GBP=D3 1.3926 1.3970 -0.32% +1.93% +1.3948 +1.3919 Dollar/Canadian CAD=D3 1.2476 1.2475 +0.05% -1.99% +1.2480 +1.2455 Aussie/Dollar AUD=D3 0.7748 0.7758 -0.14% +0.71% +0.7775 +0.7744 NZ NZD=D3 0.7198 0.7177 +0.29% +0.24% +0.7216 +0.7180 Dollar/Dollar All spots FX= Tokyo spots AFX= Europe spots EFX= Volatilities FXVOL= Tokyo Forex market info from BOJ TKYFX <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ World FX rates https://tmsnrt.rs/2RBWI5E ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>  |
| Posted: 14 Mar 2021 01:03 PM PDT This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.  |
| You are subscribed to email updates from "investing forex" - Google News. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
Comments
Post a Comment