Foreign Exchange  

Prime Minister Narendra Modi, in his 11th Red Fort address, outlined India's journey towards becoming a developed nation by 2047. He emphasized the strength of the banking sector, empowerment of women through self-help groups, and the rapid growth of the Indian economy.

India’s foreign exchange reserves touched a record high of 598.165 billion dollars
 

As per the weekly statistical supplement of the Reserve Bank of India, the reserves increased to $583.865 billion from $583.697 billion reported for the week ended 12 February 
 

India’s foreign exchange reserves jumped up by around $1.091 billion during the week ending 22 January to $585.334 billion

India's foreign exchange reserves rose by $2.563 billion to reach a record high of over $581 billion

The country's foreign exchange reserves swelled by $4.277 billion to a lifetime high of $572.771 billion in the week ended November 13

Foreign exchange reserves rose $183 million during the week ended October 30 

India’s foreign exchange reserves jumped higher by $5.412 billion, during the week ended 23 October to reach an unprecedented lifetime-high

India's foreign exchange reserves increased by USD 1.622 million to USD 481.078 billion in the week to May 1, due to rise in the foreign currency assets, according to RBI data

The rupee opened at 71.82 then fell to 71.84 against the US dollar, showing a decline of 13 paise over its previous closing at the Interbank Foreign Exchange

Registering a rise of 17 paise over its previous close, the rupee opened at 71.87, and then gained further ground to touch a high of 71.67, at the interbank foreign exchange

At the interbank foreign exchange the rupee opened at 71.87, then gained further ground and touched a high of 71.85, registering a rise of 27 paise over its previous close

At the interbank foreign exchange, the rupee opened weak at 71.96 and fell further to 72.05 against the US dollar in early trade on Thursday. It, however, pared some losses and was trading at 71.95.
 

According to the investigating agency, ED had seized asset worth Rs 1.46 crore in the case of holding foreign asset in UAE in contravention of Section 4 of FEMA,1999. Two properties one from Vasant Kunj, Delhi and one property in Haryana have been attached by ED.
 

In a matter of 5 months, India's currency has become the best performing currency across the world. The optimism of Prime Minister Narendra Modi continuing for a second term amid the recent tension between India and Pakistan has ensured that the carry-trade returns on the Indian rupee are at their highest.