[ad_1]
India Forex Reserves Data: For the fourth consecutive week, there has been an increase in foreign exchange reserves and it has increased to $ 561.16 billion. The Reserve Bank of India has released the figures of Foreign Exchange Reserves, according to which the foreign exchange reserves have increased by $ 11.02 billion to $ 561.16 billion in the week ending December 2, 2022. In the week ending November 25, it was $ 550.14 billion. However, it is still less than the reserves of $ 632.7 billion at the beginning of the year.
RBI had sold dollars to stop the fall in rupee against dollar in the currency market, due to which there was a decrease in foreign exchange reserves. But now in the week ending December 2, it has now been $ 561.16 billion. Foreign currency assets have also reached $ 496.984 billion with a jump of $ 9.694 billion in the week ending December 2. Although the gold reserve has increased by $ 1.086 billion to $ 41.025 billion. At the same time, there has been a decrease of $ 75 million in the funds deposited with the IMF and it has been $ 5.108 billion.
If we look at the reasons for the big increase in India’s foreign exchange reserves, it is believed that RBI has made a tremendous purchase of dollars in recent times. At the same time, in October 2021, the foreign exchange reserves were $ 645 billion, but to save the rupee from falling, the RBI has been selling dollars.
During the announcement of the monetary policy on Wednesday, December 8, 2022, RBI Governor Shaktikanta Das said that despite the strengthening of the dollar, the rupee has depreciated against other currencies and foreign exchange reserves also remain satisfactory.
News Reels
read this also
[ad_2]
Source link