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.
The United Arab Emirates i.e. UAE government has taken a big decision to promote trade in the cou
These changes may happen in iPhone 14, Apple may rebrand the chip
Apple is expected to announce the iPhone 14 series in or around September and now a new report su
There is good news for the people who are facing the scorching heat. According to the Meteorologi
Government On Rashmika Mandanna Deepfake Controversy: Rashmika Mandanna recently came into the li
Pakistan, which sheltered terrorists, is currently struggling with terrorist activities. Because
Assembly elections have been completed in Madhya Pradesh. Exit polls have also come out and now e
The Meteorological Department said that the pace of the monsoon has been very slow for the last f
Oil companies have released the prices of petrol and diesel for today. Today companies have not m
Muhammad Yunus met PM Modi in Bangkok, will India-Bangladesh relations improve?
Prime Minister Narendra Modi and Bangladesh interim government advisor Muhammad Yunus met. Both t
Suryakumar Yadav, IND vs AUS 2nd ODI. Suryakumar Yadav, the middle-order batsman of the Indian te
