India's forex reserves decline to 593.48 bln USD in May
Xinhua
28 May 2023, 07:00 GMT+10
India's foreign exchange reserves dropped to 593.48 billion U.S. dollars during the week ended May 19 after three consecutive weeks seeing the forex reserves rise.
NEW DELHI, May 28 (Xinhua) -- India's foreign exchange reserves declined by 6.05 billion U.S. dollars during the week ended May 19 to 593.48 billion U.S. dollars, showed the latest data released by the Reserve Bank of India.
This situation came after three consecutive weeks seeing the forex reserves rise.
In the previous week ended May 12, India's forex reserves rose by 3.55 billion U.S. dollars to reach 599.53 billion U.S. dollars, according to the country's central bank.
Earlier this week Commerce and Industry Minister Piyush Goyal said India was in a "comfortable" position for the next five to six years in terms of its forex reserves.
"In the worst case, with whatever difficulties anybody may have, India is comfortable for the next five or six years, given (that) our forex reserves today will be able to meet our foreign exchange requirements," he was quoted as saying at an event held by the Confederation of Indian Industry.
Share
Tweet
Share
Flip
Email
Subscribe and Follow
Get a daily dose of Austin Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
News RELEASES
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Austin Globe.
More InformationWall Street diverges, but techs advance Wednesday
NEW YORK, New York - U.S. stocks diverged on Wednesday for the second day in a row. The Standard and Poor's 500 hit a new all-time...
Greenback slides amid tax bill fears, trade deal uncertainty
NEW YORK CITY, New York: The U.S. dollar continues to lose ground, weighed down by growing concerns over Washington's fiscal outlook...
Taliban seeks tourism revival despite safety, rights concerns
KABUL, Afghanistan: Afghanistan, long associated with war and instability, is quietly trying to rebrand itself as a destination for...
Nvidia execs sell $1 billion in stock as AI boom drives record prices
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
Tech stocks slide, industrials surge on Wall Street
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
Canada-US trade talks resume after Carney rescinds tech tax
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Mexican President orders review of SpaceX environmental impact
MEXICO CITY, Mexico: Mexican President Claudia Sheinbaum said this week that her government is investigating possible environmental...
Sam’s Club fulfillment center to shut in Texas, jobs impacted
NEW YORK CITY, New York: Walmart is set to close a major Sam's Club fulfillment center in Fort Worth, Texas, as part of a shift in...
Unstoppable Hetmyer delivers again as Orcas make it three in a row
Broward County [Florida], July 2 (ANI): Left-hand batter Shimron Hetmyer's unbeaten 78-run knock guided Seattle Orcas to victory over...
Dwayne Johnson recalls emotional connection Jelly Roll's song 'Only', says "the lyrics rocked me"
Washington DC [US], July 2 (ANI): Actor Dwayne Johnson has a very special bond with singer and rapper Jelly Roll, and in fact, his...
NASA astronaut Anil Menon to embark on his first International Space Station
Washington DC [US], July 2 (ANI): NASA astronaut Anil Menon has been assigned his first mission to the International Space Station,...
"This is a film from India, for the world": Anupam Kher shares heartwarming response to 'Tanvi The Great' trailer, global premieres
Mumbai (Maharashtra) [India], June 30 (ANI): Anupam Kher's upcoming directorial 'Tanvi The Great' is creating a buzz in the entertainment...
