There has been a huge increase in India’s foreign exchange reserves. According to the latest data of the Reserve Bank of India (RBI), India’s foreign exchange reserves have increased by $ 963 million to $ 672.587 billion in the week ending June 19. In the previous week, the country’s foreign exchange reserves had declined by $9.985 billion to $671.625 billion. Now new data shows that India’s foreign exchange reserves have again increased.
However, foreign currency assets, the largest part of foreign exchange reserves, declined by $ 3.072 billion to $ 541.217 billion during this period. RBI said that the dollar value of foreign currency assets is also affected by the rise or fall in the price of many foreign currencies such as euro, pound and yen. Therefore, changes in these do not occur only due to purchase or sale of dollars. The biggest increase was seen in gold reserves this week. The value of the country’s gold reserve increased by $4.110 billion to $107.930 billion. This increase was the biggest reason for the increase in total foreign exchange reserves. At the same time, the value of Special Drawing Rights (SDRs) decreased by $ 52 million to $ 18.647 billion.
Leave a Reply