India’s forex reserves continued to hit record-high levels as they rose by $11.938 billion on July 31 compared to the week before to $534.568 billion, according to the latest data put out by the ... Principal Economic Advisor Sanjeev Sanjay said, “India's foreign exchange reserves hit USD 501.7 billion. As I have been saying in recent weeks, demand suppression…would push the INR to appreciate after an initial capital outflow." RELATED NEWS . RBI to sell dollars worth $2 billion on Monday to sooth forex market. Indian economy to grow at 9.5% in next fiscal: Fitch Ratings. Finance ... Forex reserves at all-time high — why this happened, and what it means for India’s economy Today, the country can depend on its soaring foreign exchange reserves to tackle any crisis on the economic front. NEW DELHI: Vistara and Axis Bank on Tuesday launched a co-branded forex card that can load up to 16 currencies. The card has locked-in exchange rates and the card holder will accrue 3 award points on Club Vistara for every USD 5 or an equivalent value spent, the airline said in a release. Club Vistara (CV) is the airline's frequent flyer program. 80 per cent of the Indian aviation market is predominantly low-cost airline market. The Indian aviation industry has been impacted by many issues ranging from high fuel costs to economic slowdown ... The rising forex reserves give a lot of comfort to the government and the Reserve Bank of India in managing India’s external and internal financial issues at a time when the economic growth is set to contract in 2020-21. It’s a big cushion in the event of any crisis on the economic front and enough to cover the import bill of the country for a year. The rising reserves have also helped the ... India Business News: Increase in fuel costs and impact of foreign exchange rate variation were two major reasons for Air India's operating loss of Rs 4,685 crore in 2018-
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