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These foreign-currency deposits are the financial assets of the central banks and monetary authorities that are held in different reserve currencies (e.g., the U.S. dollar, the euro, the pound sterling, the Japanese yen, the Indian rupee, and the Swiss franc) and which are used to back its liabilities (e.g., the local currency issued and the ...
The national economy contracted in July 1991 as the Indian rupee was devalued. [31] The currency lost 18% of its value relative to the US dollar, and the Narsimham Committee advised restructuring the financial sector by a temporal reduced reserve ratio as well as the statutory liquidity ratio. New guidelines were published in 1993 to establish ...
A majority of the remittances have been directed to Asian countries like India (approx. US$87.0 billion in 2021), China (approx. US$ 60.0 billion in 2021), the Philippines (approx. US$33.5 billion in 2020), Pakistan (US$26.0 billion in 2020), Bangladesh (US$21.5 billion in 2020) and more. [17]
Pakistan's industrial sector (in FY21) accounts for 28.11% of the GDP. Of this, manufacturing makes up 12.52%, mining constitutes 2.18%, construction makes up 2.05%, and electricity and gas 1.36%. The majority of industry is made up of textile units, with textiles contributing $15.4b to exports, making up 56% of total exports.
PK (2014) was the first Indian film to collect ₹ 2 billion overseas, [24] [25] [26] and Dangal (2016) is the first Indian film to exceed ₹ 10 billion and $100 million overseas, [27] including ¥1.299 billion [28] ($196.89 million) [29] from China.
Due to extreme rupee/dollar rate fluctuations India's nominal GDP fluctuates significantly. [29] With 476 million workers, the Indian labour force is the world's second-largest. [30] India has one of the world's highest number of billionaires and extreme income inequality.
In 2012–13, the Gross State Domestic Product (GSDP) of residual state of Andhra Pradesh post bifurcation at constant prices stood at ₹ 2,359.3 billion (US$28 billion) and the Gross State Domestic Product at current prices for the same fiscal year stood at ₹ 4,193.91 billion (US$50 billion).
BRICS is an intergovernmental organization comprising Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, and the United Arab Emirates.Originally identified to highlight investment opportunities, [1] the grouping evolved into an actual geopolitical bloc, with their governments meeting annually at formal summits and coordinating multilateral policies since 2009.