What does the RBI do with a huge Forex reserve ? Our foreign reserves are at an all time high of approximately 500 Billion dollars
First of all , let me make it clear I am a complete economic noob with 0 knowledge of it outside of a basic stuff So , having got that out of the way , what does the Indian government do with a huge foreign reserve ? Does it invest it in stocks ? Or are all the 500 billion dollars lying in a bank vault in RBI headquarters in Mumbai ? What are uses of a Forex reserve? Also, India's economy is around 3.2 trillion dollars in size . Does this economic size count the forex reserve or exclude it ? If tomorrow , the RBI suddenly decided to spend 400 billion dollars out of the 500 billion dollars in Indian economy , does this mean Indian economy suddenly becomes 3.6 billion dollars overnight? If our Forex reserves are so huge , why is the rupee falling?
The Reserve Bank of India (RBI) on Thursday said the currency trading platform for retail trading is ready for roll-out by the Clearing Corporation of India (CCIL) on August 5 to enable transparent and fair pricing for retail users, such as individuals and micro, small and medium enterprises. RBI has maintained certain rules and regulations regarding forex trading. Investors must abide by the rules as the main objective behind these rules is to protect our people and country from loss. Before step into the main subject, according to RBI whether forex trading in India is legal or not, a basic background history regarding forex ... The week saw a rise of $3.378 billion in forex reserves, according to the weekly publication of RBI. The reserves had fallen by $353 million to $541.660 billion in the previous week. RBI Rules On Money Transfer Abroad. Maximum limit of money that can be transferred abroad by an Indian citizen – As per the Liberalized Remittance Scheme, a resident individual has the facility to transfer money abroad to the limit of USD 2,50,000 per financial year (approx INR 1.8 crore, check today’s USD exchange rate in India).This limit can be used in a one-time transaction or through ... April 14, 2015 Dear All Welcome to the refurbished site of the Reserve Bank of India. The two most important features of the site are: One, in addition to the default site, the refurbished site also has all the information bifurcated functionwise; two, a much improved search – well, at least we think so but you be the judge.
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