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Indians paid more forex fees than any other country in 2020
Out of the share of total fees paid on inward remittances to India in 2020, Saudi Arabia ranked first at 24%
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Forex reserves rise by $889 mn to lifetime high of $621 bn
Foreign currency assets rose by $1.508 billion to $577.732 billion in the reporting week
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Economy benefitted from the collective thinking: FM
The finance minister thanked the industry for being level-headed while facing the challenges during the first and second Covid wave
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Forex reserves surge by $9.42 billion to all-time high of $620.57 billion
FCA increased by $8.596 billion to $576.224 billion in the reporting week
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Forex reserves zoom to record high of $612.73 billion
FCA rose by $463 million to $568.748 billion in the reporting week
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Forex reserves rise by $1.013 bn to record high of $610 bn
Foreign currency assets surged by $748 million to $566.988 billion, as per weekly data by the Reserve Bank of India
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Foreign exchange reserves up $99.2 bn in FY 2020-21: RBI
The valuation gain, reflecting the depreciation of the US dollar against major currencies, amounted to $11.9 billion during 2020-21
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Is $600 billion forex reserve adequate for Indian economy?
Though higher reserves help in cushioning domestic economy from external shocks, we must be mindful of the opportunity costs associated with them
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Forex reserves rise $3.087 bn to lifetime high of $608.08 bn
After declining in the previous week, the gold reserves rose by $496 million to $38.101 billion in the reporting week, according to the data
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Forex reserves cross $600 billion mark for first time
The reserves surged to a record $605.008 billion in the reporting week, helped by a rise in foreign currency assets
