Foreign Exchange Reserves: Great increase in the country’s foreign exchange reserves, reached $ 641 billion
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Foreign Exchange reserves: This week there has been a good increase in the foreign exchange reserves of the country. Forex exchange reserves have increased by $ 1.492 billion to $ 641.008 billion for the week ended October 15. The Reserve Bank of India has given information about this by releasing the latest figures. At the same time, talk about the week before that i.e. in the week ending October 8, this stock had increased to $ 639.516 billion with an increase of $ 2.039 billion.
What is the reason for the increase?
Apart from this, if we look at its record level, then in the week ending September 3, 2021, it had reached an all-time high of $ 642.453 billion. According to the weekly data released by the RBI on Friday, the main reason for the increase in foreign exchange reserves in the reporting week ended October 15 was the increase in foreign currency assets (FCAs), which form a major part of the total reserves.
Other currencies like Euro, Pound increased
According to the weekly data released by the Reserve Bank of India (RBI), FCAs have risen by $950 million to $577.951 billion. Foreign currency assets, denominated in dollars, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.
Gold reserve also increased
In the reporting week, the gold reserve increased by $ 557 million to $ 38.579 billion. According to the data of the Reserve Bank, the country’s SDR in the IMF decreased by $ 21 million to $ 19.247 billion. The country’s foreign exchange reserves with the IMF increased by $ 6 million to $ 5.231 billion.
How was the reserve for the week ending October 9?
Let us tell you that in the week ending October 9 also, there was an increase in the gold reserve. During that time the gold reserve had increased by $ 128 million to $ 37.558 billion.
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