Increasing forex reserve to help improve import cover

India’s foreign exchange reserves has increased to a one-year high of $418.5 billion.The reserves has increased due to strong inflow of funds by Foreign Portfolio Investors(FPI). Further,RBI’s decision to conduct $10 billion dollar-rupee buy-sell swap auction between March and April 2019 has also contributed to the increase in reserves. The increase in forex reserves has… Continue reading Increasing forex reserve to help improve import cover

Exports rise 2.44%; trade deficit narrows

According to data released by the Ministry of Commerce,India’s trade deficit has reduced by $9.6 billion in February,2019.The country’s exports grew by 2.44% while imports declined by 5.4%. The exports grew because of higher shipments in sectors such as pharmaceuticals,engineering and electronics.On the other hand,decline in imports was mainly due to reduction in inward shipments… Continue reading Exports rise 2.44%; trade deficit narrows