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India's total forex reserves touched an all-time high of US$642.453 billion on 8 September 2021. [19] The reserves declined to $598.89 billion by 8 September 2023 [20] & rose to hit a fresh all time high of $642.63 in March 2024. [21] India's total forex reserves touched an all-time high of US$704.89 billion on 27 September 2024. [4]
This figure can fluctuate based on various factors such as trade balances, capital flows, and the Reserve Bank of India's (RBI) interventions in the forex market. During pre-1991 Era, India faced significant balance of payments crises, leading to low levels of foreign exchange reserves.
A currency pair is the quotation of the relative value of a currency unit against the unit of another currency in the foreign exchange market.The currency that is used as the reference is called the counter currency, quote currency, or currency [1] and the currency that is quoted in relation is called the base currency or transaction currency.
In the United States, the Commodity Futures Trading Commission (CFTC) limited leverage available to retail forex traders to 50:1 on major currency pairs and 20:1 for all others. [2] Major currencies include the Australian dollar, the British pound, the Canadian dollar, the Danish Krone, the euro, the Japanese yen, the New Zealand dollar, the ...
Other sources claim that the first time a currency pair was traded by U.S. retail customers was during 1982, with additional currency pairs becoming available by the next year. [ 53 ] [ 54 ] On 1 January 1981, as part of changes beginning during 1978, the People's Bank of China allowed certain domestic "enterprises" to participate in foreign ...
India Today is a weekly Indian English-language news magazine published by Living Media India Limited. [3] [4] It is the most widely circulated magazine in India, with a readership of close to 8 million. [5] In 2014, India Today launched a new online opinion-orientated site called the DailyO. [6]