<p>Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain.</p><h3>Why does PM Modi appeals citizens to avoid buying gold?</h3><p>PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons.</p><p>&nbsp;</p><p>India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill.</p><h3>How does gold affect India's economy?</h3><p>As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability.&nbsp;</p><p>&nbsp;</p><p>The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation.</p><h3><i>Here are some of the major areas impacted by rising gold imports in India:</i></h3><h3>1. Huge Drain on Foreign Exchange Reserves</h3><p>India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil.</p><h3>2. Increasing Pressure on the Indian Rupee</h3><p>Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes.</p><h3>3. Trade and Current Account Deficit (CAD)</h3><p>A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee.</p><p>&nbsp;</p><p><strong>Also read:</strong><a href="https://www.wionews.com/india-news/watch-pm-modi-attends-thrilling-iaf-surya-kiran-airshow-at-somnath-temple-celebrations-1778482456792"><strong> </strong>WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations</a></p>

PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.

Prime Minister Narendra Modi on Sunday directed people to help the nation conserve petrol, diesel and foreign exchange reserves by using public transport, avoiding unnecessary foreign travel and the use of non-essential gold purchases. PM Modi's appeal came while addressing a BJP rally in Hyderabad as US President Donald Trump rejected the latest peace proposals of Iran, resulting in rise of a global crude oil prices to more than $105 a barrel and intensifying concerns over inflation and energy security worldwide. The escalating tension in West Asia has kept the Strait of Hormuz, one of the world’s most critical oil shipping routes, disrupted for weeks, prompting fears of a prolonged crisis in the supply chain. Why does PM Modi appeals citizens to avoid buying gold? PM Modi on Sunday also appealed to citizens to avoid buying gold for at least one year, claiming that gold imports put additional pressure on India’s foreign exchange reserves amid a global crisis. India is one of the largest importers of gold in the world, where its demand rises exponentially during weddings and festive seasons. India consumes an estimated 700 to 800 tonnes of gold annually, accounting for nearly 9 per cent of its total import bill, after crude oil. The rise in gold demand led to the import of the item in large amounts, which put pressure on India's currency as it increased dollar outflow and widened the country’s import bill. How does gold affect India's economy? As we know, gold influences the strength of a currency. When a large amount of gold is imported, it increases dollar demand and weakens the Indian currency, as gold shapes money in more ways than most people think of it. Gold in India is considered a cultural symbol, a store of value and a silent indicator of economic stability. The best part of the item is that, despite modern economies which run on digital systems and complex policies, gold still decides how strong or weak a currency is. The import behaviour of gold directly affects the currency. When gold prices rise at the global level, the import bill of the item rises too, increasing the outflow of foreign exchange money from the country. If this outflow grows and exceeds more than required, it can put heavy pressure on the currency and may lead to depreciation. Here are some of the major areas impacted by rising gold imports in India: 1. Huge Drain on Foreign Exchange Reserves India is the world’s second-largest consumer of gold, yet it depends almost entirely on imports to meet demand. Since gold purchases are made in US dollars, large-scale imports lead to a significant outflow of foreign currency. The issue has become more significant as India’s foreign exchange reserves, which had risen close to $728.49 billion, have experienced volatility and declined toward the $690.69 billion mark due to increasing import costs and currency-related pressures. A weaker rupee further raises the domestic cost of imports, particularly crude oil and gold, increasing the country’s external economic vulnerabilities. Every increase in gold imports puts additional pressure on the Reserve Bank of India’s foreign exchange reserves, which are also required for critical imports such as crude oil. 2. Increasing Pressure on the Indian Rupee Strong demand for US dollars to finance gold imports has added strain on the Indian rupee, which has fallen to historic lows. As of May 11, 2026, the rupee was trading near Rs 95.25 against the US dollar. To import gold, Indian buyers exchange rupees for dollars, increasing the supply of rupees in the market and weakening their value. A weaker rupee raises the cost of other imported goods, including fuel, electronics, and medicines. Over the past few years, the rupee has depreciated significantly—from around Rs 74–75 per dollar in 2021 to below Rs 95 in 2026, marking a decline of nearly 27–28 per cent. The pressure has intensified amid rising crude oil prices, tensions in the Middle East, and higher dollar outflows linked to imports and uncertainty over global energy supply routes. 3. Trade and Current Account Deficit (CAD) A trade deficit occurs when a country’s imports exceed the value of its exports. In FY26, India’s trade deficit climbed to $333.2 billion. The Reserve Bank of India (RBI)'s data indicates that India's CAD stood at $13.2 billion, or 1.3 per cent of GDP, in the October-December quarter of FY26, compared to $11.5 billion in the last quarter. Precious metals such as gold and silver now make up over 5 per cent of the country’s total imports. By reducing gold purchases, the government aims to shrink this deficit, which could help stabilise and strengthen the Indian rupee. Also read: WATCH: PM Modi attends thrilling IAF Surya Kiran airshow at Somnath Temple celebrations

<p>PM Modi has urged citizens to avoid gold purchases and unnecessary travel to protect foreign reserves. High gold demand drains dollars, weakens the Rupee, and widens the trade deficit, threatening economic stability.</p>

Why PM Modi asked Indians not to buy gold for a year? WION explains

<p>Foreign currency reserves are assets mostly denominated in foreign currency and held by the Central Bank of a nation. These are important to maintain the financial stability of a nation as well as to pay for critical import items, pay off external debts and prevent a sovereign debt crisis. They comprise mainly of Foreign Currency Assets like &nbsp;US dollar, Euro, Bonds and Treasuries, Gold, Special Drawing Rights and IMF Reserve Positions</p><h2>Types of Foreign Exchange Reserves</h2><p>Primarily, there are four types of Foreign Exchange Reserves</p><ul><li><strong>Foreign Currency Assets:</strong> These are holdings of major international currencies like the US dollar, Euro, Japanese yen, British pound, and Chinese yuan. They can be in the form of bank notes, bank deposits, bonds and other treasury deposits and securities from other foreign nations.</li><li><strong>Gold:</strong> Gold is the historically used Foreign Currency Reserve. Gold acts as a hedge against financial crisis, inflation and currency devaluation.</li><li><strong>Special Drawing Rights: </strong>These are Currency Instruments created by the IMF in 1969 as a substitute for the lack of the Dollar and Gold. They are built on a basket of five important currencies: the US Dollar, the Euro, the Japanese yen, the British pound, and the Chinese yuan. SDRs are not currency but claims to a potential usable currency that can be exchanged for them. The weightage of each currency is fixed every 5 years.</li><li><strong>Reserve Positions of IMF:</strong> This is like a critical account held within the IMF that countries can access at any point without any condition or fees. It represents a quota for any member country</li></ul><h2><strong>Importance of Foreign Exchange Reserves</strong></h2><p>Foreign exchange reserves are important to maintain the financial stability of a country. They act as a buffer against financial crisis. Central banks use these to maintain a desired exchange rate. For example, if the currency of a country is weakening quickly, the central bank or monetary authority can sell off extra reserves and buy the domestic currency to increase its demand. Again, if there is a sudden surge in capital outflow or a global recession, these Forex reserves can cushion the impact as India did in 2008.</p><p>&nbsp;</p><p>Foreign Exchange reserves are also used for International Trading, like purchasing critical minerals or crude oils, other important merchandise and services. Moreover, a strong Foreign Exchange reserve shows a good financial health of the country, strong liquidity, which means an extra authority for paying external debts, which increases investor confidence. These also influence a strong monetary policy, and fixed rate and the power to intervene in the market in case needed. Some Central Banks use these reserves to invest in highly liquid bonds from high-performing countries like the United States and China.</p><p>&nbsp;</p><p>&nbsp;</p>

<figure class="table"><table><tbody><tr><td><strong>Country</strong></td><td><strong>Foreign Currency Reserves&nbsp;</strong></td><td><strong>Notes</strong></td></tr><tr><td>China</td><td>$3.2 trillion&nbsp;</td><td>As of July 2025, China has nearly $3.2 trillion worth of assets, making it the largest owner of foreign exchange reserves in the world. These show the robust nature of the Chinese economy. It consists of a mix of assets, including foreign currencies, gold, bonds, and other financial instruments. The exact composition of the reserve is classified information. However, since 2014, China has been consistently trying to lower its US dollar assets and diversify its foreign currency holdings.</td></tr><tr><td>Japan</td><td>$1.3 trillion&nbsp;</td><td>Japan has $1.3 trillion worth of Foreign Reserves, the second largest in the world. It is also the largest holder of US securities. As of July 2025, the composition of Japan's Foreign Reserves includes, $1.13 trillion of Foreign currency reserves, $89.7 billion of Gold, IMF Reserve position and Special Drawing Rights of approximately $71 billion.</td></tr><tr><td>Switzerland</td><td>$897.6 billion</td><td>In July 2025, Switzerland's Foreign Exchange Reserves were measured at approximately $897.6 billion. Switzerland's Central Bank maintain these reserves in a diversified portfolio. With gold reserves $112.6 billion, other reserve assets are approximately $0.021 billion, a notable gain in SDR and IMF reserve options.</td></tr><tr><td>India</td><td>$695.10 billion</td><td>As of mid-August 2025, the Indian Foreign Reserve stands at $695.10 billion. Foreign Currency Assets (FCA) stood at $585.90 billion, the largest portion in major currencies like the Dollar, Euro, and Franc. Rest is divided up between Gold Reserve, SDR and IMF reserve options.</td></tr><tr><td>Russia</td><td>$689.458 billion</td><td>According to the Central Bank of Russia, Russia's foreign exchange reserves as of now are $689.458 billion, which is an all-time high amount for Russia. The reserves are mostly gold or currencies of other countries; they can be special drawing rights and marketable securities. The exact composition of the reserves is not disclosed.</td></tr><tr><td>Germany</td><td>$471.736 &nbsp;billion</td><td>Foreign Exchange Reserves in Germany increased to 401591 EUR Million in August from 399485 EUR Million in July of 2025</td></tr><tr><td>Saudi Arabia</td><td>$444.068<strong> </strong>billion (February 2024)</td><td>Foreign Exchange Reserves in Saudi Arabia decreased to 1665258 SAR Million in July from 1716300 SAR Million in June of 2025.&nbsp;</td></tr><tr><td>Hong Kong</td><td>$421 billion</td><td>Foreign exchange reserve in Hong Kong declined to $421.6 billion in August 2025, from $425.4 billion in the previous month.</td></tr><tr><td>South Korea</td><td>$416.3 billion</td><td>South Korea's foreign exchange reserves increased to $416.3 billion in August 2025, up from $411.3 billion in a month earlier. The rise was due by higher securities holdings, which climbed to $366.2 billion from $365.1 billion, and deposits, which grew to $25 billion from $21.3 billion.&nbsp;</td></tr><tr><td>Singapore</td><td>$389.656 billion&nbsp;</td><td>Singapore has 502,020.80 million Singapore Dollar of Foreign reserves in August 2025 chnaging from 515,481.90 million Singapore Dollar in July 2025</td></tr></tbody></table></figure>

<h2>Which country has the most Forex in the world?</h2><p>China has the largest foreign reserves in the world, even if Hong Kong is not accounted for together. As of July 2025, China has nearly $3.2 trillion worth of foreign reserves.</p><h2>What are the risks of holding large Foreign Reserves?</h2><p>&nbsp;</p><p>Large Foreign reserves have very little downside.&nbsp;However, the anarchy of international relations produces conflicts and sanctions as a more usual outcome. In such scenarios, foreign assets are frozen, rendered inaccessible. The only major risk is in the process of building large reserves; the increase of domestic money supply can result in inflation if the fiscal monetary management is poor and in developing countries where there is a lack of market integration or available financial instruments.</p>

Discover the List of Countries with the highest Foreign Exchange Reserves. Explore types, importance, risks of holding large foreign exchange reserves and how central banks use reserves for stability and trade.

Foreign currency reserves are assets mostly denominated in foreign currency and held by the Central Bank of a nation. These are important to maintain the financial stability of a nation as well as to pay for critical import items, pay off external debts and prevent a sovereign debt crisis. They comprise mainly of Foreign Currency Assets like US dollar, Euro, Bonds and Treasuries, Gold, Special Drawing Rights and IMF Reserve Positions Types of Foreign Exchange Reserves Primarily, there are four types of Foreign Exchange Reserves Foreign Currency Assets: These are holdings of major international currencies like the US dollar, Euro, Japanese yen, British pound, and Chinese yuan. They can be in the form of bank notes, bank deposits, bonds and other treasury deposits and securities from other foreign nations. Gold: Gold is the historically used Foreign Currency Reserve. Gold acts as a hedge against financial crisis, inflation and currency devaluation. Special Drawing Rights: These are Currency Instruments created by the IMF in 1969 as a substitute for the lack of the Dollar and Gold. They are built on a basket of five important currencies: the US Dollar, the Euro, the Japanese yen, the British pound, and the Chinese yuan. SDRs are not currency but claims to a potential usable currency that can be exchanged for them. The weightage of each currency is fixed every 5 years. Reserve Positions of IMF: This is like a critical account held within the IMF that countries can access at any point without any condition or fees. It represents a quota for any member country Importance of Foreign Exchange Reserves Foreign exchange reserves are important to maintain the financial stability of a country. They act as a buffer against financial crisis. Central banks use these to maintain a desired exchange rate. For example, if the currency of a country is weakening quickly, the central bank or monetary authority can sell off extra reserves and buy the domestic currency to increase its demand. Again, if there is a sudden surge in capital outflow or a global recession, these Forex reserves can cushion the impact as India did in 2008. Foreign Exchange reserves are also used for International Trading, like purchasing critical minerals or crude oils, other important merchandise and services. Moreover, a strong Foreign Exchange reserve shows a good financial health of the country, strong liquidity, which means an extra authority for paying external debts, which increases investor confidence. These also influence a strong monetary policy, and fixed rate and the power to intervene in the market in case needed. Some Central Banks use these reserves to invest in highly liquid bonds from high-performing countries like the United States and China.

<p>Discover the List of Countries with the highest Foreign Exchange Reserves. Explore types, importance, risks of holding large foreign exchange reserves and how central banks use reserves for stability and trade.</p>

List of Countries with the highest Foreign Exchange Reserves: China, Japan, India and more

India's foreign exchange reserves have declined for the second consecutive week to a one-month low. India's import cover now stands at 589.14 billion dollars. India's forex reserves have fallen by over 6 billion dollars since may 19. That marks the biggest weekly fall in the last three months.

India's foreign exchange reserves at a one-month low

UK's Pound is on a free fall, its value against the dollar has decreased and the foreign reserves are also depleting fast. Economic challenges faced by UK are immense and even Asian nations including India and Bangladesh are far better positioned than UK.

WION Business News | Foreign exchange reserves: Asian nations better positioned than the UK

<p>India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15.</p>

<p>The rupee had fallen&nbsp;by 5 paise to close at 79.90 against the US dollar after touching 80.06 against the US dollar on Thursday. As the rupee fell against the US dollar, RBI governor Shaktikanta Das said "you buy an umbrella to use it when it rains!"</p>

<p><a href="https://www.wionews.com/business-economy/sbi-becomes-indias-most-valuable-listed-psu-499583">Also Read:&nbsp;SBI becomes India's most valuable listed PSU</a></p>

<p>"After all, this is the very purpose for which we had accumulated reserves when the capital inflows were strong," the RBI chief added.&nbsp;Gold reserves also declined by $830 million to $38.356 billion.</p>

<p><strong>Watch:&nbsp;Why do central banks raise interest rates to curb inflation?</strong></p>

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<p>Das added that he had "no particular level of the rupee in mind" but asserted that the central bank would like to see an "orderly evolution" with "zero tolerance for volatile and bumpy movements". Das said the central bank is "engaging" with the forex market to ensure the rupee finds its level in "line with its fundamentals".</p>

<p>The RBI informed India's forex reserves had dipped by $80.06 billion to $580.252 billion earlier this month.</p>

<p>On Friday, India's Sensex reclaimed the 56,000-level as banking and financial stocks gained. The BSE benchmark rose over 390 points to close at 56,072.23&nbsp;and the NSE Nifty climbed 114.20 points to close at 16,719.45.</p>

<p>(With inputs from Agencies)</p>

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India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15. The rupee had fallen by 5 paise to close at 79.90 against the US dollar after touching 80.

India's foreign exchange reserves fell by $7.5 billion to $572.712 billion in the week ending July 15. The rupee had fallen by 5 paise to close at 79.90 against the US dollar after touching 80.06 against the US dollar on Thursday. As the rupee fell against the US dollar, RBI governor Shaktikanta Das said "you buy an umbrella to use it when it rains!" Also Read: SBI becomes India's most valuable listed PSU "After all, this is the very purpose for which we had accumulated reserves when the capital inflows were strong," the RBI chief added. Gold reserves also declined by $830 million to $38.356 billion. Watch: Why do central banks raise interest rates to curb inflation? Das added that he had "no particular level of the rupee in mind" but asserted that the central bank would like to see an "orderly evolution" with "zero tolerance for volatile and bumpy movements". Das said the central bank is "engaging" with the forex market to ensure the rupee finds its level in "line with its fundamentals". The RBI informed India's forex reserves had dipped by $80.06 billion to $580.252 billion earlier this month. On Friday, India's Sensex reclaimed the 56,000-level as banking and financial stocks gained. The BSE benchmark rose over 390 points to close at 56,072.23 and the NSE Nifty climbed 114.20 points to close at 16,719.45. (With inputs from Agencies) WATCH WION LIVE HERE

India's foreign exchange reserves fall; gold reserves decline

<p>As Nepal continues to struggle with dwindling foreign exchange reserves, the South Asian country's government has taken the decision to extend its complete ban on the import of ten different types of products, till the end of August. The Xinhua news agency reported that the prohibition, which was initially enacted in late April, was supposed to last until mid-July, when the current fiscal year came to an end, however it has been extended by one month. As per IANS, the official notice says that the embargo is in place to protect the balance of payments and external financial position, in order to fend off any impending threats to the economy.</p>

<p><strong>Watch |&nbsp;Gravitas: G20 finance ministers huddle amid recession fears</strong></p>

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<p>According to a notice published in the Nepal Gazette on Sunday, until August 30&nbsp;entry will be prohibited&nbsp;for mobile phones priced at&nbsp;more than $300 US and motorcycles with engines larger than 150 cc, as well as for alcoholic beverages, tobacco products, diamonds, colour television sets larger than 32 inches, jeeps, cars, and vans, dolls, playing cards, and snacks.</p>

<p>Talking to Xinhua, senior economist Keshav Acharya explained, "As there has been no improvement in foreign exchange reserves, the government currently has no other options but to impose a ban on the non-essential goods which had contributed to the outflow of foreign currencies."</p>

<p><strong>Also read |&nbsp;<a href="https://www.wionews.com/south-asia/srilankadollarchallenge-sri-lankans-abroad-try-to-save-countrys-economy-via-viral-internet-trend-498161" hreflang="en">#SriLankaDollarChallenge: Sri Lankans abroad try to save country's economy via viral internet trend</a></strong></p>

<p>He said that despite the impact of this ban on revenue, "we cannot let the country slip in the direction of Sri Lanka by allowing unrestricted import of goods."</p>

<p>According to Nepal Rastra Bank, the country's foreign exchange reserves declined by 19.6 per cent to 9.45 billion US dollars during the first 11 months of the 2021–22 fiscal year. In mid–July 2021, they stood at 11.75 billion US dollars.</p>
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As Nepal continues to struggle with dwindling foreign exchange reserves, the South Asian country's government has taken the decision to extend its complete ban on the import of ten different types of products, till the end of August.

As Nepal continues to struggle with dwindling foreign exchange reserves, the South Asian country's government has taken the decision to extend its complete ban on the import of ten different types of products, till the end of August. The Xinhua news agency reported that the prohibition, which was initially enacted in late April, was supposed to last until mid-July, when the current fiscal year came to an end, however it has been extended by one month. As per IANS, the official notice says that the embargo is in place to protect the balance of payments and external financial position, in order to fend off any impending threats to the economy. Watch | Gravitas: G20 finance ministers huddle amid recession fears According to a notice published in the Nepal Gazette on Sunday, until August 30 entry will be prohibited for mobile phones priced at more than $300 US and motorcycles with engines larger than 150 cc, as well as for alcoholic beverages, tobacco products, diamonds, colour television sets larger than 32 inches, jeeps, cars, and vans, dolls, playing cards, and snacks. Talking to Xinhua, senior economist Keshav Acharya explained, "As there has been no improvement in foreign exchange reserves, the government currently has no other options but to impose a ban on the non-essential goods which had contributed to the outflow of foreign currencies." Also read | #SriLankaDollarChallenge: Sri Lankans abroad try to save country's economy via viral internet trend He said that despite the impact of this ban on revenue, "we cannot let the country slip in the direction of Sri Lanka by allowing unrestricted import of goods." According to Nepal Rastra Bank, the country's foreign exchange reserves declined by 19.6 per cent to 9.45 billion US dollars during the first 11 months of the 2021–22 fiscal year. In mid–July 2021, they stood at 11.75 billion US dollars. Watch WION LIVE HERE: You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Looking to preserve forex reserves, Nepal extends import ban on ten items

Reports claim at least 19 emerging economies are at risk of default. They are facing a perfect storm of rising expenses and falling foreign exchange reserves. What can these countries do to avoid going the Sri Lanka way? Palki Sharma tells you.

Gravitas: Which countries are going the Sri Lanka way

Bhutan is all set to welcome foreign tourists after two years of Covid hiatus. But travellers will have to shell out $200 per day, up from $60 in the last three decades. Is Bhutan using its tourism potential to shore up its foreign exchange reserves? Mariam Wardak tells you.

South Asia Diary | Bhutan increasing daily tax on tourists