Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
RBI data on Thursday showed that India’s foreign exchange reserves in nominal terms increased by $34.1 billion during the quarter ending June as against $27.9 billion in the year ago period. The reserves also include valuation effects. In the April-June period of 2021, the valuation gain which reflects the depreciation of the US dollar against major currencies and rise in gold prices amounted to $2.2 billion. The same was at $8 billion in the same period a year ago.
Current account surplus at $6.5 billion
The Reserve Bank of India (RBI) on Wednesday released Sources of Variation in Foreign Exchange Reserves in India during April-June 2021.
Excluding valuation effects, foreign exchanges increased by $31.9 billion in the June quarter as compared to the corresponding period a year ago, on a balance of payments basis.
In the first quarter of FY22, the current account balance posted a $6.5 billion as surplus, against a $19.1 billion surplus in the year ago quarter.
The data further highlighted that the capital account surplus was at $25.4 billion in April to June period as compared to a surplus of $0.8 billion in the same quarter of FY21.