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Macro: Money Supply Growth Slows, Dollar Rises
A few macro charts for you: Broad and Narrow Money Supply are slowing M0 growth (reserve money) would fall as bank reserve requirements have fallen 1.25% this year (nearly 80,000 cr. less will be...
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RBI Intervention Is Not Working For The Rupee
The Reserve Bank of India sold just 275 million dollars in April, even as the Dollar Rupee exchange rate rose from 51.1 to 52.5. Data from the RBI Bulletin yesterday shows traded amounts by the RBI in...
View ArticleRBI Dictates How Oil Companies Should Buy Dollars!
RBI has asked oil companies to buy half their dollar demand from one public sector bank of their choice, says Moneycontrol . RBI feels that oil firms seeking a single quote for their dollar...
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Chart: The Rupee Goes Beyond Rs. 56 a Dollar
The USD-INR spot rate has just crossed a barrier – Rs. 56 to a dollar. This is the highest the dollar has been since July 2012 and just Rs. 1 short of the all time high. (Click for a larger picture) A...
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The Three Distinct Phases of India’s Forex Reserves
India’s foreign exchange reserves have been through wild rides recently. But if you look at the reserves since 2001, here’s where we went. There are three distinct phases. Phase 1: 2001 to 2008 India...
View ArticleWhat Are Forex Reserves?
We keep talking about our “Forex Reserves” and worry if they fall from $300 billion to $290 billion, as if some politician just enriched their pockets by taking that much money out of somewhere in the...
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Forex Reserves Cross $300 Bn Again, After Two Years
India’s Forex Reserves have crossed $300 billion for the first time since December 2011. The tone is familiar. RBI had, till 2007, employed a policy of building reserves consistently. In spite of...
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RBI Unwinds Forex Exposure As Reserves Hit Record High on RBI Dollar Buying
India’s forex reserves hit a new high at $333 billion for the week ended 13 Feb 2015. This is the highest ever in terms of forex reserves that India’s held. Including known forex forward derivative...
View ArticleMacronomics: Forex Reserves Peak Just Before the FCNR Storm Hits
In Macronomics today, we’ll take a look at this whole FCNR thing once again, before the storm comes. We spoke … (Read On…) The post Macronomics: Forex Reserves Peak Just Before the FCNR Storm Hits...
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