Foreign Exchange Earings

A sprawling group encompassing music, movies, games and chips, Sony hiked its full-year profit forecast by 3% aided by foreign exchange rates

India's foreign exchange reserves increased USD 2.951 billion to USD 645.583 billion for the week ended March 29, the Reserve Bank of India (RBI) said on Friday. This is the sixth consecutive week of a jump in overall reserves. The kitty had increased USD 140 million to USD 642.631 billion in the previous reporting week. The country's forex kitty had in September 2021 reached an all-time high of USD 642.453 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 29, the foreign currency assets, a major component of the reserves, increased USD 2.354 billion to USD 570.618 billion, data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves. Gold reserves increased USD 673 million to USD 52.16 .

India's forex reserves increased by USD 140 million to touch its all-time high of USD 642.631 billion during the week ended March 22, the Reserve Bank said. This is the fifth consecutive week of a jump in the overall reserves. The kitty had increased by USD 6.396 billion to USD 642.492 billion in the previous reporting week. The previous peak level was recorded in September 2021 when the country's foreign exchange reserves reached USD 642.453 billion. The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended March 22, the foreign currency assets, a major component of the reserves, decreased by USD 123 million to USD 568.264 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. Gold reserves

A few foreign banks have been actively pitching TARFs and increasingly more so recently, he said

SEZ units have to only achieve positive NFE and so the Customs need not demand refund of customs duty on the inputs

The Bill shall propose the re-introduction of certain direct tax benefits, under which units set up in these development hubs shall attract a 15 per cent corporate tax until 2032

Currency dealers say there were dollar inflows on account of Reliance Jio and Airtel deals, which the central bank absorbed

FEEs during the period January-November 2017 were Rs 1,60,865 crore with a growth of 16.9 per cent over the same period of previous year