According to data released by the Reserve Bank of India on Friday, the country's foreign exchange reserves fell by $ 9.6 billion to $ 622.3 billion for the week ended March 11. Significantly, this was the sharpest weekly decline in the last two years. According to the RBI, the fall was due to the depletion of foreign currency assets, which constitute a significant part of the total reserves.
There was a big drop in March 2020
Talking about the last two years, before this, a decline of $ 11.9 billion was recorded in the foreign exchange reserves in the week ended March 20, 2020. Earlier, in the week ended March 4, foreign exchange reserves had increased by $ 394 million to $ 631.92 billion. Let us inform you that in September 2021 last year, the foreign exchange reserves had reached a record level of $ 642.453 billion. Foreign currency assets held in foreign exchange reserves, expressed in dollars, include the rising and falling effects of non-US currencies such as the euro, pound, and yen.
This time also increase in gold reserves
According to RBI data, the country's gold reserves have increased by $ 1.522 billion in the week under review and it has increased to $ 43.842 billion. In the week under review, special drawing rights (SDRs) with the International Monetary Fund (IMF) declined by $53 million to $18.928 billion. According to the report, the country's currency reserves kept with the IMF have come down by $ 7 million to $ 5.146 billion.
$20 billion less than high
Stocks are currently down about $20 billion from their all-time high of 642 billion dollars. The period of decline in forex reserves coincides with the week that saw record intervention by the central bank after the rupee breached 77 on March 7. The Indian currency came under pressure in the wake of the deteriorating situation in Ukraine, followed by sanctions imposed by western countries, leading to crude oil prices reaching the level of $140. Going forward, the rupee will depend on the direction of the conflict in Ukraine. If oil supply is ensured at $80-85 through concessional supplies from Russia or easing of global prices, the rupee should remain stable. But if the price crosses $100, it will again come under pressure.
Effects of tampering with nature, landslide incidents are increasing in the Himalayan region due to many reasons
In Uttarakhand and many parts of Himachal Pradesh, there have been reports of debris falling from the mountains at many places during the last week. Not only this, due to incidents like heavy rains
Gyanvapi Case: Hearing on the petition of the Muslim side in the Gyanvapi case, the Varanasi Court's decision
In the Gyanvapi case, the petition of the Muslim side will be heard first. Varanasi Court has given this decision after a hearing. Now the matter will be heard in Varanasi district court on May 26.
Earthquake in Uttarakhand: Once again the earth of Uttarakhand trembled due to the earthquake, tremors were felt in this district early in the morning.
A few days ago, various parts of the country were shaken by strong earthquakes. Tremors of the last earthquake were felt in Devbhoomi Uttarakhand also on October 3. After October 3, the earthquake has
Former vice-chancellor of IGNOU and PTU acquitted in corruption case, acquitted after 10 years from CBI court
After a long legal battle of nearly 10 years, former IGNOU Vice-Chancellor VN Rajasekharan Pillai has been acquitted by a special CBI court in a corruption case. Along with this, Rajneesh Arora,
Infosys: Narayana Murthy gave such a gift to his grandson, he became a billionaire at the age of four months
Ekagraha Rohan Murthy, grandson of Infosys founder NR Narayana Murthy, has probably become the country's youngest millionaire. According to regulatory filings, Narayana Murthy has gifted Infosys
Weather Update: Fog and cold wave in North India, chances of rain in these areas from February 3
After two days of sunshine, fog has again increased and the icy cold has increased in most areas of North India. On Sunday, there was dense fog along with severe cold in most areas of Haryana, Punjab,
PSG: Messi's goal wins PSG, Tottenham's Hyung Min first Asian footballer to score 100 Premier League goals
Football Saturday saw some of the best matches in different leagues around the world. Paris Saint Germain (PSG) defeated Nice 2-0 in the French League League-One. Lionel Messi and Sergio Ramos scored
In SCO-2022, Pakistan PM Shahbaz Sharif is hitting an ax on his own feet by not meeting PM Modi
While the people of the country are grieving due to the severe floods in Pakistan, the people sitting at the top of the power are afraid that their noses should not be lowered. This is proving to be
Japan said - If China obeys the rules, it will include it in QUAD: This is not a military group; Australia said – India is a big power in Indo-Pacific
The foreign ministers of QUAD met on Friday under the ongoing Raisina Dialogue in New Delhi. In this meeting held a day after the G-20 meeting, Australian Foreign Minister Penny Wong described India's
Samsung launched the phone with the best camera, know all the features of this phone
Samsung Galaxy M53 5G: If you want to buy a phone with the best camera and spend less money, then Samsung has launched a new phone in the market. The main camera in Samsung Galaxy M53 5G is 108mp. The
