In the previous week ended December 31, the reserves had dropped by $1.466 billion to $633.614 billion.
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
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
He would take his colour, brushes and canvas outside to paint and talk with his love. He would stand close to the window and paint, keeping an eye on his muse.
They say the violin mimics the human sound. In his case, it was that of love, of longing. He didn’t know any other way of loving.
Younger people do not have much progressive beliefs; a 2017 survey found that one-third of young people opposed inter-caste marriage.
The pandemic has made it clear that virtual learning is here to stay. In the West, the big question is whether it will dilute the quality of the college experience and education. In India, which grapples with digital divide, the question remains whether this will reach most people at all.
Even after two years of the Covid-19 pandemic, many 'informed' individuals in India continue to deny the virus with unscientific claims and unfounded data. The latest? Omicron will end the pandemic.
Across Asia there are deeply entrenched obstacles to a mode of higher education that is liberal in multiple senses – disciplinary and epistemological but also social and political.
The two incidents in the recent past, one in Mon district of Nagaland and the other at Lakhimpur Kheri in Uttar Pradesh, undermined the core principles democracy and federalism.