India Foreign Currency Reserves: There is good news for India. There has been a tremendous jump in India's Forex Reserves. In the week ending November 11, 2022, there has been a jump of $ 14.72 billion in foreign exchange reserves. According to RBI (Reserve Bank Of India), foreign exchange reserves have increased by $ 14.72 billion to reach $ 544.715 billion. Earlier, in the week ending November 4, the foreign exchange reserves had decreased by $ 1.09 billion to $ 529.99 billion. Foreign currency assets, which are considered a major part of the total reserves, have increased by $ 11.8 billion to $ 482.53 billion. The gold reserve has increased by $ 2.64 billion to reach $ 39.70 billion.
If we look at the reasons for the big increase in India's foreign exchange reserves, it is believed that RBI has made a tremendous purchase of dollars in recent times. So there has been a brake on the strength of the US dollar, in such a situation foreign exchange reserves have also increased due to the revolution gain. Earlier, in the week ending October 28, 2022, foreign exchange reserves had increased by $ 6.56 billion and had increased to $ 531.08 billion, which was the biggest jump after September 2021.
India's foreign exchange reserves were $ 607 billion in March this year, which is $ 97.73 billion less than $ 642.45 billion as of September 3, 2021. However, there was a decline of $ 117.93 billion in the week ended October 21 when foreign exchange reserves came down to $ 524.52 billion. And the improvement in the reserve is being seen from those levels. Out of the last 13 weeks, there has been a decline in foreign exchange reserves in 11 weeks. There was a continuous decline in foreign exchange reserves after expensive imports and the Russia-Ukraine war.
To save the rupee from falling against the dollar, the RBI had to intervene and sell dollars, due to which there was a decrease in foreign exchange reserves. Although the US Federal Reserve has been increasing interest rates to curb inflation, the dollar will continue to strengthen. Many experts believe that foreign exchange reserves may fall to $ 510 billion.
Uniform Civil Code Bill: A private member's bill related to the implementation of the Uniform Civ
The Commissionerate Police has implemented traffic diversions in view of the Magh Mela and the re
China stunned by our strength in Kailash range: Troops increasing in Ladakh after ruckus in Tawang
The skirmish with the Chinese Army in Arunachal's Tawang sector is being seen as an attempt to di
There is still some time for Preity Zinta to make her comeback on the film screen, but
The US has expressed concern over reports claiming that white phosphorus has been used by Israel
Adipurush Advance Booking Day 2: Om Raut's mythological drama Adipurush's buzz remains. Now only
Everyone is overjoyed with India's victory in the Women's ODI World Cup. Deepti received her prim
BAN vs IRE: Mushfiqur Rahim completes century on the last ball, records against Ireland
Veteran Bangladesh batsman Mushfiqur Rahim created history by scoring a century in the second ODI
Two deaths occurred on Friday at the Turkaulia, Harsiddhi, and Paharpur police stations of Motiha
'My salute to their bravery...', PM Modi shared a post on Vijay Diwas.
December 16, 1971, is the day when India inflicted a crushing defeat on Pakistan, leading to the
