Anand Rathi: India - The Fourth Largest Forex-Reserve Holder In The World
An employee counts a stack of U.S. 100 dollar banknotes. (Photographer: Paul Yeung/Bloomberg)

Anand Rathi: India - The Fourth Largest Forex-Reserve Holder In The World

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Anand Rathi Report

India has overtaken Taiwan to become the fourth-largest forex-reserve holder in the world.

Forex reserves for the week ending August 28, 2020 was 541 billion dollar, a 3.9 billion dollar rise over the previous week.

The reserve build-up in Q1 FY21 (27 billion dollar) was almost equally split between the Reserve Bank of India’s dollar buying and mark-to-market valuation gains.

In Q2 FY21, the rise in forex reserves ( 36 billion dollar so far) is being driven mainly by the RBI’s forex buying.

This is averting large rupee appreciation and keeping domestic liquidity accommodative.

Click on the attachment to read the full report:

Anand Rathi Forex Reserves Update.pdf

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This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.

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