This is the fifth consecutive week when India’s foreign reserves have been increased.
A good news has come for India on Friday amidst the race to put tariffs between the US-China. The country’s foreign exchange reserves have increased by US $ 10.872 billion to US $ 676.268 billion during the week ended April 4. The total foreign exchange reserves in the last reporting week rose US $ 665.396 billion to US $ 665.396 billion. According to PTI news, the Reserve Bank of India (RBI) has released the latest figures in the relationship. The central bank releases the statistics of the country’s foreign exchange reserves every week.
Fifth consecutive week in foreign reserves
According to the news, let us tell you, this is the fifth consecutive week when India’s foreign store has been increased. It recently saw some decline due to intervention in the foreign exchange market as well as re-evaluation in the foreign exchange market to help reduce the instability in the rupee. Earlier in the end of September 2024, the foreign exchange reserves touched the top level of US $ 704.885 billion.
Forex assets also increased strongly
The data released by the RBI on 11 April shows that for the week ended on April 4, foreign exchange assets, which is a major component of reserves, 9.
US $ 074 billion rose to US $ 574.088 billion. Foreign exchange assets expressed in terms of dollars include the price growth or depreciation of non-American units such as euros, pounds and yen placed in foreign exchange reserves.
How much is the gold reserves
The Reserve Bank of India said in its figures that the country’s gold reserves have risen at US $ 79.36 billion during the week. Also, Special Drawing Rights (SDR) rose US $ 186 million to US $ 18.362 billion. Statistics have also revealed that India’s reserved status with the IMF also increased by US $ 46 million to US $ 4.459 billion in a week under review.
Latest business news
