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.
Former India captain and former BCCI president Sourav Ganguly have once again joined hands with D
NASA's Orion spacecraft has left for Earth after completing the Moon mission. NASA's Orion spacec
After the new allegations of irregularities in the medical admission exam NEET-UG and the harsh c
The last vote in the 2024 election year was cast at 6 pm on Wednesday (November 20). Maharashtra'
The Indian team reached Sri Lanka for the three-match T20 series. Team India, led by new head coa
Malaysian Prime Minister Dato Seri Anwar bin Ibrahim, who is on a visit to India, was formally we
After 22 years, Sunny Deol has once again returned to the big screen as 'Tara Singh'. His movie '
Cases of coronavirus infection are being seen increasing once again in many countr
Home Minister Amit Shah has described the 10-year tenure of Prime Minister Narendra Modi as layin
US President Joe Biden and Vice President Kamala Harris met with their top 150 donors over the we
