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.
Chief Justice of India (CJI) Sanjiv Khanna retired on Tuesday, May 13, and handed over his charge
After the acquittal of the accused in the Malegaon bomb blasts, the then-investigating officers h
Maharashtra Navnirman Sena (MNS) chief Raj Thackeray on Friday warned Maharashtra Chief Minister
How does India look from space? On hearing this question, everyone remembers Indian astronaut Rak
Ukraine attacked Russia's bomber base with a drone, killing three soldiers. According to the BBC
Top US lawmakers have described China as a threat to America's existence in the Republican-majori
The Indian team has moved forward for the World Cup mission after performing a series against the
The petitions filed in the Supreme Court regarding the Waqf Act will be heard today. From 2 p.m.,
In the Mainpuri Lok Sabha by-election, the BJP is making all-out efforts to snatch the traditiona
The Supreme Court will hear a petition demanding a law against forced conversion. This PIL has be
