Asian Journal of Managerial Science (AJMS)
Analysis on Growth of Foreign Exchange Reserves in India Since 1960-61 to 2017-18Author : R. Rajanbabu and A. Srilaka
Volume 8 No.2 April-June 2019 pp 69-73
This paper is primarily concerned with an analysis of the growth and trends in the foreign exchange reserves of India. It is based on secondary data and the data reliable for analysis are collected from handbook of statistics on Indian economy and the website of Reserve Bank of India. The study covers the period of 58 years from 1960-1961 to 2017-18. The collected data have been used for analysis with the help of compound growth rate. The analysis of the data reveals that foreign exchange reserves have significantly changed over the years. All the indicators noticed notable growth rate during the period under review. From the overall analysis showed that India holds adequate level of foreign exchange reserves.
Foreign Exchange Reserves, Forex Reserves, Gold, Growth, IMF, RTP, SDRs
 Abburi Venkata Sasi Rekha & Stella Mary. (2017). A Study of Foreign Exchange Rate Volatility on Nifty. Imperial Journal of Interdisciplinary Research (IJIR), 3(2), 1440-1443.
 Akshay Damani & Vidhi Vora. (2018). An Empirical and Analytical Study of the Factors Affecting the Exchange Rate Fluctuation in India. International Journal of Innovative Studies in Sociology and Humanities, 3(3), 1-14.
 Alok Kumar Mishraa, Niranjan Swainb, & D. K. Malhotrac. (2007). Volatility Spill over between Stock and Foreign Exchange Markets: Indian Evidence. International Journal of Business, 12(3), 343-359.
 Arunachalam, P. (2010). Foreign Exchange Reserves in India and China. African Journal of Marketing Management, 2(4), April, 69-79.
 Blesson James, Manjari Parashar & Biju Sebastian. (2018). Depreciation of Indian Rupee: Causes and Impact. International Journal of Management, 8(9), 109-114.
 Charansingh (2006, Feb). Should India Use Foreign Exchange Reserves to Finance Infrastructure? Economic Political & Weekly, 41(6), 517-525.
 Jayachandran, G. (2013). Impact of Exchange Rate on Trade and GDP for India: A Study of Last Four Decade. International Journal of Marketing, Financial Services &Management Research, 2(9), 154-170.
 Magda Kandil & Ida Mirzaie. (2005). The Effects of Exchange Rate fluctuation on Output and Prices: Evidence from Developing Countries. The Journal of Developing Areas, 38(2), 189-219.
 Mayuresh S. Gokhale. & J. V. Ramana Raju (2013). Causality between Exchange Rate and Foreign Exchange Reserves in the Indian Context.Global Journal of Management and Business Research Finance, 13(7), 1-7.
 Neeti Khullar & Upasna Joshi Sethi (2011). Measuring the Volatility of Foreign Exchange Market in India. Research Journal of Finance and Accounting, 2(9/10), 14-26.
 Piyali Roy Chowdhury & Anuradha, A. (2018). Impact of Exchange Rate Fluctuation on Stock Market Volatility – A Study to Predict the Economic Scenario in India. International Journal of Pure and Applied Mathematics, 118(18), 4309-4316.
 Poongothai and Kalaipriya. (2017). Foreign Exchange Reserves in India: Composition and Impact. International Journal of Applied Research, 3(9), 537-539.
 Prabheesh, K P., Malathy, D. & Madhumathi, R. (2007). Demand for Foreign Exchange Reserves for India: A Co integration Approach. South Asian Journal of Management, 14(2), 36-46.
 Pritpal Singh Bhullar & Manika Dhameja. (2016, Sep–Oct). Empirical Analysis of Long Run Equilibrium between Exchange Rate and Foreign Exchange Reserve – An Indian Perspective. International Journal of Management (IJM), 7(6), 89–94.
 Priyadarshi Dash & Narayanan K. (2011, Jan- June). Determinants of Foreign Exchange Reserves in India: A Multivariate Cointegration Analysis. Indian Economic Review, 46(1), 83-107.
 Rajanbabu & Ganesan. (2015).Production and Trade Performance of Spices Grown in India. International Research Journal of Commerce, Arts and Science, 6(9), 29-45.
 Rakesh, D., Raju, J. K., & Basavangowda, K. G. (2016). An Impact of Currency Fluctuations on Indian Stock Market. International Journal of Application or Innovation in Engineering & Management (IJAIEM), 5(6), 146-151.
 Saba Abid & Neelam Jhawar. (2017, Mar-Apr). An Analysis of Foreign Exchange Reserves in India since 2001-2016. IOSR Journal of Economics and Finance (IOSR-JEF), 8(2), 70-74.
 Sarbapriya Ray. (2012). Foreign Exchange Reserve and its Impact on Stock Market Capitalization: Evidence from India. Research on Humanities and Social Sciences, 2(2), 46-60.
 Vanlalramsanga, C. & Ramesh Golait. (2012, April). Foreign Exchange Reserves: Component-wise Analysis. Indian Journal of Finance, 6(4), 4-15.