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India’s foreign exchange reserves fell by $4.888 billion to $685.729 billion for the week ended May 16, the Reserve Bank of India (RBI) reported on Friday. This follows a rise of $4.553 billion to $690.617 billion recorded in the previous week. The country’s forex reserves had reached a record high of $704.885 billion in September 2024.For the week ended May 16, foreign currency assets—a key component of the reserves—increased by $279 million to $581.652 billion, according to RBI data released on Friday, PTI reported. These assets reflect the impact of appreciation or depreciation of non-US currencies such as the euro, pound, and yen held in the reserves.After a sharp increase of $4.52 billion in the prior week, gold reserves declined by $5.121 billion to $81.217 billion during the reporting period.Special Drawing Rights (SDRs) fell by $43 million to $18.49 billion, while India’s reserve position with the International Monetary Fund (IMF) decreased by $3 million to $4.371 billion, the RBI data showed.Earlier for the week ended on May 9, India’s foreign exchange reserves rose by $4.553 billion to $690.617 billion, driven primarily by a significant increase in gold assets, according to data released by the Reserve Bank of India (RBI). This marked a reversal from the previous reporting week, when reserves had declined by $2.065 billion to $686.064 billion. The reserves had reached a record high of $704.885 billion at the end of September 2024.During the week under review, foreign currency assets (FCAs)—the largest component of the forex reserves—registered a modest rise of $196 million, reaching $581.373 billion. The FCAs, expressed in dollar terms, reflected the impact of currency movements such as the appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the reserves.
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Luxury skincare expansion: L’Oreal acquires majority stake in Medik8; announces 1 billion Euro deal
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Luxury skincare expansion: L’Oreal acquires majority stake in Medik8; announces 1 billion Euro deal
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[ad_1] For the first time in eight years, Ayodhya has seen a sharp revision in its circle rates, with property prices rising between 30% and 200% across various parts of the district, officials told PTI.The prices are particularly steep within a 10-kilometre radius of the Ram Janmabhoomi Temple, an area witnessing a real estate boom fuelled by religious tourism and rapid infrastructure growth. Here, circle rates have jumped over 150%, pushing land values in the prime zone to Rs 26,600–27,900 per square metre, compared to Rs 6,650–6,975 earlier.Shanti Bhushan Chaubey, sub-registrar of Sadar (Faizabad) tehsil, said the hike followed a proposal submitted last September. “After addressing objections, the new circle rates were approved by District Magistrate Tikaram Funde and have now been enforced,” he said.According to Chaubey, the sharpest hikes were recorded in areas with the most land activity. “Localities […]
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