Forex reserves dip for the first time in 04-05

India's foreign exchange reserves declined for the first time in the current fiscal by $56 million to reach $118.57 billion for the week end...

India’s foreign exchange reserves declined for the first time in the current fiscal by $56 million to reach $118.57 billion for the week ended May 21.

The country’s foreign currency assets were also down by $74 million to $113.09 billion during the period under review, according to RBI’s weekly statistical supplement.

Analysts said foreign institutional investors were net sellers in equities at over $200 million during reporting week which was marked by suspension of trading on May 17 due to extreme volatility.

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The appreciation and depreciation of international currencies such as Euro, Sterling Pound and Yen also impacted the currency reserves, they said.

Gold reserves and special drawing rights remained static at $4,191 million and $2 million respectively.

Canada, UK and Australia formally recognise a Palestinian state

World6 hr ago

The UK, Canada, and Australia have recognized Palestine as a state, going against the US and Israel's opposition. British PM Starmer aims to revive peace without Hamas and hostage release. Canada and Australia also recognize Palestine, condemning terrorism. Over 145 UN members recognize Palestine, with France likely to join soon.

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