A man counts currency notes in Mumbai, India. Reuters
India’s foreign exchange reserves rose by $4.235 billion during the week ended May 8th, RBI data showed on Friday.
Reserve Bank of India (RBI) Governor Shaktikanta Das has said the gross fiscal deficit has adhered to budgetary targets, and that the current account deficit is expected to be around 2.5 per cent of the GDP in 2018-19. Das said this earlier this week while speaking at the “Governor Talks”
Further monetary policy easing is expected as the economy struggles with a demand downturn, liquidity constraint and a high finance cost, sources said on Friday. It is learnt that Reserve Bank of India would stick with its stance and further lower the repo rate, which will in turn reinvigorate consumer
India’s foreign exchange (forex) reserves increased by $4.368 billion during the week ended April 26, official data showed. According to the Reserve Bank of India’s weekly statistical supplement, the overall forex reserves rose to $418.515 billion from $414.147 billion reported for the week ended April 19.
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