Mumbai: India’s forex reserves jumped by $7.5 billion to a new record high of $ 675 billion for the week ended Aug 2, RBI said on Friday. The overall kitty had dropped by $3.5 billion to $667.4 billion in the previous reporting week ended July 26. The previous high for the reserves had stood at $671 billion, reached on July 18. For the week ended Aug 2, foreign currency assets, a major component of the reserves, increased by $5.2 billion to $592 billion.agencies
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BTS’s hit single ‘Dynamite’ surpassed 1.9 billion Spotify streams on August 3, setting a new record as the first K-pop song to reach this milestone. Released in August 2020 from their album ‘BE’, the achievement took nearly four years. BTS, formed in 2010, has made significant global impact with numerous accolades and best-selling records.
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Foreign portfolio investors made significant investments in Indian IT stocks in July, totaling 117.63 billion rupees. This surge, the highest since 2022’s sectoral classification changes, was driven by positive US Federal Reserve signals and strong earnings reports. In contrast, the financial sector saw outflows due to moderating net interest margins and higher credit costs.
Foreign portfolio investors made significant investments in Indian IT stocks in July, totaling 117.63 billion rupees. This surge, the highest since 2022’s sectoral classification changes, was driven by positive US Federal Reserve signals and strong earnings reports. In contrast, the financial sector saw outflows due to moderating net interest margins and higher credit costs.
