First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark.
http://twitter.com/forex_in_world/status/1303153461182242817Alternate Idea: Will the S&P 500 Bounce This Week? https://t.co/XuWK6ooLWj#forexsignals #forextrading #donaldtrump— FOREX IN WORLD (@forex_in_world) September 8, 2020
http://twitter.com/forex_in_world/status/1303181588306563074Alternate Belief: Will the S&P 500 Leap This Week? https://t.co/8W9DKLKDnj— FOREX IN WORLD (@forex_in_world) September 8, 2020
If I'm unemployed and I profit more than £12,500 a year (tax-free allowance) trading Forex, will I have to pay income tax on all profits above £12,500?
Also, when do I declare it as income? Does it count as income when my Forex account balance increases, or when I actually withdraw the funds into my bank account? So lets say that I gain £20,000 this year trading Forex, but this stays in my Forex account (I don't withdraw any money into my bank account). Will I have to declare it as income and pay taxes on it? Or is that only if I withdraw the profits into my bank account? (by the way, I am spread betting, therefore there is no stamp duty or capital gains tax).
http://twitter.com/forex_in_world/status/1300276387232788480S&P 500 Breaks Above 3500 However Can Its Pick Plug Proceed? https://t.co/okiDc8Xv1h— FOREX IN WORLD (@forex_in_world) August 31, 2020
First Time in Indian History Forex reserves touched $500 billion mark. Today India overtook Russia & Korea to become 3rd largest forex reserve holder after China and Japan as the robust foreign funds inflow amid a raging Pandemic drives the country towards a momentous Landmark.
What does the RBI do with a huge Forex reserve ? Our foreign reserves are at an all time high of approximately 500 Billion dollars
First of all , let me make it clear I am a complete economic noob with 0 knowledge of it outside of a basic stuff So , having got that out of the way , what does the Indian government do with a huge foreign reserve ? Does it invest it in stocks ? Or are all the 500 billion dollars lying in a bank vault in RBI headquarters in Mumbai ? What are uses of a Forex reserve? Also, India's economy is around 3.2 trillion dollars in size . Does this economic size count the forex reserve or exclude it ? If tomorrow , the RBI suddenly decided to spend 400 billion dollars out of the 500 billion dollars in Indian economy , does this mean Indian economy suddenly becomes 3.6 billion dollars overnight? If our Forex reserves are so huge , why is the rupee falling?
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