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Forex reserves rose by $8.895 billion to a record high of $642.453 billion

Foreign Exchange Reserves: The foreign exchange reserves of the country has reached its all-time high. In the week ended September 3, it increased by about Rs 654 billion ($8.895 billion) to a record level of about Rs 4,72.37 trillion ($ 642.453 billion). This information has been received from the data of Reserve Bank of India (RBI). Prior to this, in the week ended August 27, the country’s foreign exchange reserves had increased by about Rs 12.25 billion ($ 16.663 billion) to about Rs 4,65.83 trillion ($ 633.558 billion).

RBI released its weekly figures on Friday. According to these figures, due to the increase in foreign currency assets (FCA), this increase has been seen in the foreign exchange reserves of the country. Explain that FCA is an important part of the total currency reserves.

FCA increased by about Rs 6,03 billion

According to RBI data, in this past week, FCA has reached about Rs 6,03 billion (increased by $ 8.213 billion) to about Rs 4,26.31 trillion ($ 579.813 billion). Let us tell you that the FCA is recorded in the records according to the dollar. However, it is determined on the basis of the decrease or increase in the value of foreign currency other than the dollar, including the euro, pound and yen to name a few.

According to the data, in the last week, the country’s gold reserve has increased by about 47 billion 2037 lakh rupees ($ 642 million) to about 280 trillion rupees ($ 38.083 billion). The country’s Special Drawing Rights (SDR) in the IMF has increased by $29 million to $19.437 billion. At the same time, the country’s foreign exchange reserves in the IMF increased by $ 11 million to $ 5.121 billion.

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Shivam Bangwal

Shivam Bangwal is a young entrepreneur who hails from Uttarakhand. Shivam is a professional full time Digital Marketing and PR expert with a post graduation degree of Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Branding Panther and Digital Leader.

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