INDIA'S FOREX RESERVES RISE TO USD 589.465 BILLION

HIGHLIGHTS

• India's Forex Reserves have risen to US $ 589.465 billion.
• FCA of India have also increased.
• In the same period, the Gold Reserves of India also increased.

India's foreign exchange (Forex) reserves have ...

FITCH RATING AGENCY LOWERED ITS CREDIT OUTLOOK ON JAPAN’S FOREIGN CURRENCY DEBT

Highlights –

• Fitch rating agency lowered its credit outlook on Japan’s foreign currency debt.
• The agency lowered its rating to negative from stable.
• The COVID-19 crisis raised the country’s debt.
• Japan’s ...

RBI DIRECTS YES BANK'S IBU TO STOP ACCEPTING FOREIGN CURRENCY DEPOSITS

Highlights

• The Mumbai-based private sector lender is hoping to raise Rs 15,000 crore with the help of the FPO

• The letter dated May 22, the RBI asked IBU to comply with the restriction within the period of 12 months

• The RBI on many instances had f...

FOREX RESERVES AT ALL-TIME HIGH

Highlights:

• India's Foreign exchange reserves have reached $466.69 billion, marked as a lifetime high.
• Currency assets have gone up by $4.470 billion and settled at $432.919 billion.
• Gold Reserves has also surged by $153 million to $28....

VENEZUELA TO RAISE TAX ON PURCHASES IN FOREIGN CURRENCY

Highlights:

• Venezuela will impose an extra sales tax of 25% on the purchase of goods using foreign currency.
• The law will allow the government to levy a tax ranging between 5% and 25% above 16% value-added tax that already exists.
• The move ...