Foreign exchange reserves
The country’s foreign exchange reserves rose $ 15.26 billion to $ 653.96 billion in two years during the week ended March 7. The Reserve Bank of India (RBI) gave this information. Last week, the country’s foreign exchange reserves fell $ 1.78 billion to $ 638.69 billion. There has been a decline in reserves recently due to the RBI intervention as well as re-evaluation in the foreign exchange market to help reduce rupee fluctuations. In the end of September 2024, the foreign exchange reserves reached an all -time high of $ 704.88 billion.
Due to this, the treasure increased
The reason for this boom in foreign exchange reserves is the $ 10 billion foreign exchange exchange made by the central bank on February 28. The RBI bought dollars against the rupee to increase liquidity in the system. According to the Reserve Bank data, a major part of foreign exchange reserves in the week under review increased by $ 13.99 billion to $ 557.28 billion. 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.
Gold reserves fall
In the week under review, the price of gold reserves declined by $ 1.05 billion to $ 74.32 billion. Special drawing rights (SDR) rose by $ 21.2 crore to $ 18.21 billion. According to the data of the Reserve Bank of India, India’s reserved reserves with the International Monetary Fund (IMF) increased by $ 6.9 million to $ 4.14 billion in the week under review.
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