India’s forex kitty at $684.8 bn, gold reserves go up
However, gold reserves, which form part of the foreign exchange kitty, increased by $1.08 billion to $68.53 billion during the week, according to the central bank.
However, gold reserves, which form part of the foreign exchange kitty, increased by $1.08 billion to $68.53 billion during the week, according to the central bank.
During the visit, Goyal participated in the Plenary Session of the 8th Edition of Future Investment Initiative (FII), with representatives from global governments and the industry.
The forex had hit an all-time high of $704.885 billion at the end of September.
Indian benchmark indices Nifty and Sensex ended the week with gains after two consecutive weeks of losses.
The US Fed’s rate decision, more importantly the Fed commentary on Wednesday night, will decide the trend in the US market, he said.
FIIs have lost in this tug of war with DIIs since the market has been scaling new highs despite FII selling, he said.
The overall high valuations of the market is creeping into PSU stocks too
The assets under custody (AUC) for FIIs stood at Rs 68.04 lakh crore as of February 15, of which Rs 62.84 lakh crore were in equities.
Foreign institutional investors have net sold over USD 3.5 billion worth of shares so far in 2024.
This week is likely to be volatile but a rally is likely soon. FIIs have already turned buyers. FII and DII money flows can trigger a large-cap led rally, says V K Vijayakumar,
