According to the CBI officials, Rs 6,000 crore was transferred through nearly 8,000 transactions done between July 2014 and July 2015.
The overall amount Indians have spent on transaction fees for sending money abroad have decreased over the past five years, the fees paid to exchange rate margins are growing.
Special drawing rights with International Monetary Fund (IMF) fell by $21 million to reach $19.25 billion in the reporting week. India's reserve position with the IMF rose $6 million to reach $5.23 billion.
India's reserve position with the International Monetary Fund fell by $3 million to about $5.23 billion in the reporting week, the data stated.
The apex bank stated that the fall in reserves was on account of a fall in the foreign currency assets (FCAs) which is a major component of the overall reserves.
On the balance of payment basis, excluding valuation effects, forex reserves rose by $31.9 billion in the June-end quarter compared to $19.8 billion in the year-ago period.
The local currency opened at 73.70 and touched an intra-day high of 73.66 against the dollar in trading hours today
Inflation in the United States is headed on an easing trajectory, inflation in August 2021 receded to the smallest increase in the last seven months
Shortages are pushing prices higher for many consumer goods, from bread to construction materials to gasoline, triggering protests among Sri Lankans fed up with the prolonged crisis.
The domestic unit opened at 72.90 against the dollar, then slipped 13 paise to 73.02 against the American currency
Indian Rupee goes down by 27 paisa in a day
The dollar index, which gauges the greenback's strength against a basket of six currencies, gained 0.35 per cent to 90.82.
We would like the UK to come in as a major investor and innovation partner, says Vardhan while addressing the Policy Exchange think tank on 'India's Vision of the Indo-Pacific'
If consumption stocks make a comeback, it would indicate that the lack of credit – which had hampered the stocks in the sector – was perhaps ending, pointing to a better future.
The RBI may have to make efforts to step-up its forex reserves, says the Jalan Committee report, pointing to a not-too-comfortable a picture, unlike the impression being given by the government.
For the first time in a decade, India witnessed a decline in Foreign Exchange Earnings (FEE) of 1 billion dollars from foreign tourists
Islamic preacher Zaik Naik, who is living in Malaysia since 2016, says he is ready to return to India if the Supreme Court gives an assurance that he would not be arrested till his conviction
At the Interbank Foreign Exchange, the local currency opened at a low of 70.03 a dollar, down from its previous close of 69.81, and weakened further to trade at a 70.08, down by 27 paise.
Leader of Opposition in Uttarakhand Assembly Pritam Singh during a protest near the State Secretariat against the Devasthanam Act, in Dehradun.PTI Photo
Indian Player Mayank Agarwal plays a shot during third day of the first Test cricket match between India and New Zealand, at Green Park stadium in Kanpur.PTI Photo/Arun Sharma
MP & Bollywood actor Sunny Deol with his son Karan Deol (L) during Karan's birthday celebrations, at Sunny Super Sound studio in Mumbai.PTI Photo
Sharad Agarwal, Head, Lamborghini India flags off a convoy of over 50 Lamborghinis as part of the Lamborghini Espierenza Giro India 2021, at Manesar in Gurugram.PTI Photo
Lok Janshakti Party (Ramvilas) President Chirag Paswan inspects Bapu Auditorium for preparation of his party foundation day function, in Patna.PTI Photo
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