There has been a decline in reserves for the last several weeks.
A boom has been recorded in India’s foreign exchange reserves. The Reserve Bank of India released the latest data on this on Friday. India’s foreign exchange reserves rose US $ 4.758 billion to US $ 640.479 billion in the week ended on February 21. According to PTI news, in the previous reporting week, the total reserves fell by $ 2.54 billion to US $ 635.721 billion.
Decline in reserves handed over
According to the news, to help reduce the instability in the rupee, the central bank has been a decline in the store for the last several weeks due to intervention in the foreign exchange market as well as re-evaluation. Foreign currency reserves rose to an all -time high of US $ 704.885 billion in late September 2024. According to the latest data, for the week ended on February 21, Forex Considers, which is a major component of reserves, increased by US $ 4.251 billion to US $ 543.843 billion.
Gold reserves rose US $ 426 million
Foreign exchange assets expressed in terms of dollars include the effect of value growth or depreciation of non-American units such as euros, pounds and yens placed in foreign exchange reserves. The RBI said the gold reserves rose US $ 426 million to US $ 74.576 billion during the week under review. The central bank said that special drawing rights (SDR) rose US $ 73 million to US $ 17.971 billion. Top bank data shows that India’s reserve position with the IMF increased by US $ 7 million to US $ 4.09 billion in the week under review.
Fiscal deficit in January end
The central government’s fiscal deficit reached 74.5 percent of the annual target at the end of January 2025. This information was given in the official data released on Friday. According to data released by the Auditor Controller (CGA), the real fiscal deficit was Rs 11,69,542 crore in the period of April-January 2024-25. The fiscal deficit was 63.6 percent of the revised estimate (RE) of FY 2023-24 in the same period of a year ago. The fiscal deficit for the current financial year is estimated to be Rs 15.69 lakh crore.
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