Foreign exchange reserves
Forex Reserve: Broken rupee has affected India’s foreign exchange reserves against the dollar. Let us tell you that the country’s foreign exchange reserves declined by $ 2.54 billion to $ 635.72 billion in the week ended 14 February. The Reserve Bank of India (RBI) has given this information. Last week, the country’s foreign exchange reserves rose $ 7.65 billion to $ 638.26 billion. The recent foreign exchange reserves had been a decline in the recent foreign exchange reserves due to intervention in RBI’s foreign exchange market to help reduce rupee fluctuations. On the other hand, if we talk about Pakistan, then during the week ended on 14 February 2025, the foreign exchange reserves have seen an increase of $ 121.3 million.
Reached record high in September 2024
In the end of September 2024, the foreign exchange reserves rose to a high level of $ 704.885 billion so far. However, the foreign exchange fund declined due to RBI interference in the foreign exchange market to reduce the instability in the rupee. According to the data released by ABI, a major part of the foreign exchange reserves declined by $ 4.51 billion to $ 539.59 billion in the week ended on 14 February. Foreign exchange assets mentioned in terms of dollars include the effects of the decrease of non-American currencies such as euros, pounds and yen placed in foreign exchange reserves.
Increase in gold reserves
However, the price of gold reserves increased by $ 1.94 billion to $ 74.15 billion in the week under review. Special drawing rights (SDR) rose $ 1.9 crore to $ 17.89 billion. According to the data of the Reserve Bank of India, India’s reserved reserves with the International Monetary Fund (IMF) increased by $ 1.4 million to $ 4.08 billion in under review week.
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