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India’s forex reserves fall $4.5 billion, worst weekly drop in a year

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India’s forex reserves fall .5 billion, worst weekly drop in a year

The country’s foreign exchange reserves fell sharply in the week to January 28, 2022, due to the revaluation of foreign exchange assets.
According to the latest data from the Reserve Bank of India (RBI), total reserves fell by $4.5 billion this week, mainly due to a drop of $3.5 billion in foreign currency assets. Gold reserves fell by 844 million in a week. The Reserve Bank of India held 743.84 metric tons of gold at the end of September 2021. The Bank of England and the Bank for International Settlements (BIS) held 451.54 tonnes of gold overseas and 292.3 tonnes domestically.

It was the biggest drop since foreign reserves fell by $6.2 billion in the week ended Feb. 5, 2021.

Total reserves stood at $629.8 billion as of the reporting weekend. For the week ended September 3, 2021, foreign exchange reserves reached a level of $642.45 billion, down nearly $12 billion from an all-time high.
While both the US dollar and the euro are intervention currencies and foreign currency assets (FCAs) are maintained in the major currencies, foreign exchange reserves are denominated and expressed in US dollars. Changes in FCA are mainly due to changes in foreign exchange buying and selling by the Reserve Bank of India, revenue from foreign exchange reserves deployment, external aid revenue from the central government, and revaluation of assets.
According to the Reserve Bank of India, foreign exchange reserves rose steadily between March and September last year. However, there has been a decline since then.
With crude prices above $90 a barrel, the rupee is under pressure as higher oil prices will mean bigger import bills. The Reserve Bank of India intervenes in currency markets to reduce volatility.
India imports more than 80% of its crude oil needs. Economists estimate that a 10% increase in oil prices would increase the current account deficit by $15 billion.
India’s crude oil imports rose 119.2% year-on-year to $118.3 billion in April-December 2021, up from $54 billion in the same period in FY21. At this rate, India’s oil import bill is expected to be around $158 billion in FY22, just one notch below the all-time high of $165 billion in FY2014.

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

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Akshay Kumar wishes director Priyadarshan on birthday with Bhooth Bangla BTS pic: ‘Surrounded by ghosts…

Akshay Kumar and Priyadarshan, the acclaimed Indian director, celebrated their 68th birthday on Instagram. Kumar, who has worked with Priyadarshan on several cult comedies of the early 2000s, wished him a happy birthday and called him a mentor. The duo is now back together for their upcoming horror-comedy, Bhooth Bangla.

The first poster of the movie has been released, and it is expected to hit theaters in 2025. Akshay Kumar wore a black fedora and a green jacket, layered over a black tee, and fans have expressed their excitement for their new movie.

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The duo’s dynamic and deep bonding have been praised by fans, who have expressed high anticipation for their new movie. The first poster of Bhooth Bangla has already been released, and the movie is expected to hit theaters in 2025.

Akshay Kumar, the versatile Bollywood actor, recently celebrated director Priyadarshan’s birthday by sharing a behind-the-scenes (BTS) photograph from their upcoming film, “Bhooth Bangla.” In the image, Akshay humorously captioned, “Surrounded by ghosts…” The photo features Akshay alongside Priyadarshan and co-actor Paresh Rawal, all dressed in traditional attire, with a black cat perched on Akshay’s shoulder, adding a whimsical touch to the scene.

Reunion After 14 Years

This collaboration marks a significant reunion between Akshay Kumar and Priyadarshan, who last worked together on the film “Bhool Bhulaiyaa” in 2007. Their partnership has been celebrated in the past for delivering successful comedies like “Hera Pheri” and “Garam Masala.” Fans have eagerly anticipated their return to the big screen together, and “Bhooth Bangla” promises to be a delightful addition to their repertoire.

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About ‘Bhooth Bangla’

“Bhooth Bangla” is a horror-comedy that blends elements of suspense with humor, a genre in which both Akshay Kumar and Priyadarshan have excelled. The film is produced by Balaji Telefilms Ltd in association with Cape of Good Films. The motion poster released earlier this year features Akshay Kumar in a suit, with a cat on his shoulder, licking milk slyly, setting the tone for the film’s intriguing and humorous premise.

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Anticipation and Fan Reactions

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The BTS photo shared by Akshay Kumar has generated excitement among fans, who are eager to see the trio back together on screen. The playful caption and the presence of the black cat suggest that “Bhooth Bangla” will offer a mix of thrills and laughs, staying true to the successful formula of their previous collaborations.

As the release date for “Bhooth Bangla be a significant highlight in the upcoming entertainment lineup. The reunion of Akshay Kumar, Priyadarshan, and Paresh Rawal, combined with the intriguing premise and the playful BTS moments, has set high expectations among audiences. Fans can look forward to a cinematic experience that promises both chills and chuckles.

For a visual glimpse into the making of “Bhooth Bangla,” you can watch the following video Akshay Kumar expressed his gratitude as they once again united for their upcoming movie Bhooth Bangla. This marks a new chapter in their long-standing collaboration since the 2000s. He shared a picture from behind the scenes of their new movie, where it seems like they are laughing about something.

Akshay wrote,”Happy Birthday, Priyan Sir! What better way to celebrate than by spending the day on a haunted set, surrounded by ghosts…both real and unpaid extras? Thank you for being a mentor, and the only person who can make chaos look like a masterpiece. May your day be filled with fewer retakes. Wishing you a fantastic year ahead!”

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