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 Reserve Bank of India on Tuesday announced the launch of the first pilot project of the retai
Bikharam Bishnoi, accused of threatening to kill Bollywood superstar Salman Khan and demanding a
To give a boost to the student exchange program, French Foreign Minister Catherine Colonna on Wed
Lashkar-Jaish terrorists growing up in Pakistan itself: US report claims - plotting against India
Bankrupt Pakistan is not desisting from giving shelter to terrorism. According to the report of A
The government said in Parliament on Thursday that cases of atrocities against various minority c
MHT CET Result 2023: Maharashtra Joint Entrance Exam result for PCM, PCB declared, check this way
The results of the entrance examination conducted for Physics, Chemistry and Mathematics (PCM) an
Country to get 75 new Vande Bharat trains soon, trial run before August 15; Learn Features
In an attempt to reach Prime Minister Narendra Modi's target of running 75 'Vande Bharat' trains
On the special occasion of Independence Day, actor Akshay Kumar has good news for his fans. Aksha
Ajay Devgn reacts to Akshaye Khanna's exit from Drishyam 3; the actor spoke to the director.
Following the success of the film Dhurandhar, actor Akshaye Khanna's name has been constantly in
Telangana School Education Department (TSBIE) has announced the result of Inter examination in th
