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Home»Articles»Analysis on Growth of Foreign Exchange Reserves in India Since 1960-61 to 2017-18

Analysis on Growth of Foreign Exchange Reserves in India Since 1960-61 to 2017-18

Author : R. Rajanbabu and A. Srilaka
Volume 8 No.2 April-June 2019 pp 69-73

Abstract

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.

Keywords

Foreign Exchange Reserves, Forex Reserves, Gold, Growth, IMF, RTP, SDRs

Full Text:

References

[1] 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.

[2] 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.

[3] 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.

[4] Arunachalam, P. (2010). Foreign Exchange Reserves in India and China. African Journal of Marketing Management, 2(4), April, 69-79.

[5] Blesson James, Manjari Parashar & Biju Sebastian. (2018). Depreciation of Indian Rupee: Causes and Impact. International Journal of Management, 8(9), 109-114.

[6] Charansingh (2006, Feb). Should India Use Foreign Exchange Reserves to Finance Infrastructure? Economic Political & Weekly, 41(6), 517-525.

[7] 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.

[8] 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.

[9] 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.

[10] 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.

[11] 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.

[12] Poongothai and Kalaipriya. (2017). Foreign Exchange Reserves in India: Composition and Impact. International Journal of Applied Research, 3(9), 537-539.

[13] 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.

[14] 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.

[15] 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.

[16] Rajanbabu & Ganesan. (2015).Production and Trade Performance of Spices Grown in India. International Research Journal of Commerce, Arts and Science, 6(9), 29-45.

[17] 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.

[18] 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.

[19] 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.

[20] Vanlalramsanga, C. & Ramesh Golait. (2012, April). Foreign Exchange Reserves: Component-wise Analysis. Indian Journal of Finance, 6(4), 4-15.

Asian Journal of Managerial Science (AJMS) is a quarterly international peer-reviewed journal of Managerial Science. One of the objectives of this journal is to disseminate knowledge on various research issues connected with the topics include, but are not limited to:

Accounting, Auditing, Banking, Business strategy, Corporate governance, Entrepreneurship, Financial structure, Capital markets, Health economics, Human resources management, Information systems,Innovation management, Insurance, Marketing, Organization, Production and logistics, Risk management, and Taxation.

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.

Editor-in-Chief
Dr. Tan Fee Yean
Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
[email protected]
Editorial Advisory Board
Dr. Aidil Rizal Bin Shahrin
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. Amalendu Bhunia
Department of Commerce, University of Kalyani, West Bengal, India
[email protected]
Dr. Ahmad Zahiruddin Bin Yahya
Department of Accountancy, University of Malaya, Malaysia
[email protected]
Dr. Anil Govindrao Suryavanshi
Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
[email protected]
Dr. Ong Lin Dar
Department Of Business Strategy And Policy, University of Malaya, Malaysia
[email protected]
Dr.V.Balachandran
Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
[email protected]
Dr. Yeong Wai Chung
Department Of Operation and Management Information, University of Malaya, Malaysia
[email protected]
Prof.V.V.Devi Prasad Kotni
Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
[email protected]
Dr. Quah Chee Heong
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected].edu.my
Dr.Subrata Roy
Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
[email protected]
Dr. Norbani Binti Che Ha
Department of Marketing, University of Malaya, Malaysia
[email protected]
Dr. Tey Lian Seng
Department Of Business Strategy and Policy, University of Malaya,  Malaysia
[email protected]
Dr. Mohammad Nazri Bin Mohd Nor
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Binish Qadri
Research Scholar, Department of Economics, Central University of Kashmir, India
[email protected]
Dr. Khaw Lee Hwei
Department of Finance and Banking, University of Malaya, Malaysia
[email protected]
Dr. V. P. Sriram
Department of Management, Balaji Institute of International Business, Maharashtra, India
[email protected]
Dr. Yusniza Binti Kamarulzaman
Department of Marketing, University of Malaya,  Malaysia
[email protected]
Dr. Kanagi Kanapathy
Department of Operations and Management Information Systems, University of Malaya, Malaysia
[email protected]
Dr. Abd El Salam Mahmoud Abou Kahf
Department of Commerce, Alexandria University, Egypt
[email protected]
Dr. Wong Sek Khin
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Lee Su Teng
Department of Business Strategy and Policy, University of Malaya, Malaysia
[email protected]
Dr. Phoong Seuk Wai
Department of Operation and Management Information System, University of Malaya, Malaysia
[email protected]
Dr. Dennis Palkon
College of Business, Management, Florida Atlantic University
[email protected]

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    Editorial Note

    Editorial Dr. Tan Fee Yean

    Editor-in-Chief
    Dr. Tan Fee Yean
    Department of HRM, Universiti Utara Malaysia, Kedah, Malaysia
    [email protected]
    Editorial Advisory Board
    Dr. Aidil Rizal Bin Shahrin
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. Amalendu Bhunia
    Department of Commerce, University of Kalyani, West Bengal, India
    [email protected]
    Dr. Ahmad Zahiruddin Bin Yahya
    Department of Accountancy, University of Malaya, Malaysia
    [email protected]
    Dr. Anil Govindrao Suryavanshi
    Department of Commerce & Management, The New college, (Shivaji University), Maharashtra, India
    [email protected]
    Dr. Ong Lin Dar
    Department Of Business Strategy And Policy, University of Malaya, Malaysia
    [email protected]
    Dr.V.Balachandran
    Department of Corporate Secretaryship, Alagappa University,Tamil Nadu, India
    [email protected]
    Dr. Yeong Wai Chung
    Department Of Operation and Management Information, University of Malaya, Malaysia
    [email protected]
    Prof.V.V.Devi Prasad Kotni
    Department of Management Studies,GVP College for Degree & PG Courses, Andhra Pradesh, India
    [email protected]
    Dr. Quah Chee Heong
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected].edu.my
    Dr.Subrata Roy
    Department of Commerce, Rabindra Mahavidyalaya, West Bengal, India
    [email protected]
    Dr. Norbani Binti Che Ha
    Department of Marketing, University of Malaya, Malaysia
    [email protected]
    Dr. Tey Lian Seng
    Department Of Business Strategy and Policy, University of Malaya,  Malaysia
    [email protected]
    Dr. Mohammad Nazri Bin Mohd Nor
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Binish Qadri
    Research Scholar, Department of Economics, Central University of Kashmir, India
    [email protected]
    Dr. Khaw Lee Hwei
    Department of Finance and Banking, University of Malaya, Malaysia
    [email protected]
    Dr. V. P. Sriram
    Department of Management, Balaji Institute of International Business, Maharashtra, India
    [email protected]
    Dr. Yusniza Binti Kamarulzaman
    Department of Marketing, University of Malaya,  Malaysia
    [email protected]
    Dr. Kanagi Kanapathy
    Department of Operations and Management Information Systems, University of Malaya, Malaysia
    [email protected]
    Dr. Abd El Salam Mahmoud Abou Kahf
    Department of Commerce, Alexandria University, Egypt
    [email protected]
    Dr. Wong Sek Khin
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Lee Su Teng
    Department of Business Strategy and Policy, University of Malaya, Malaysia
    [email protected]
    Dr. Phoong Seuk Wai
    Department of Operation and Management Information System, University of Malaya, Malaysia
    [email protected]
    Dr. Dennis Palkon
    College of Business, Management, Florida Atlantic University
    [email protected]

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