India Forex Reserves: After two weeks of continuous decline, there has been an increase in the foreign exchange reserves of the Reserve Bank of India. There has been an increase of $ 2.97 billion in foreign currency reserves in the week ending 23 February 2024. Foreign exchange reserves have increased to $619.07 billion, which was $616.09 billion in the previous week.
Banking sector regulator RBI, while releasing the data of forex reserves, said that there has been an increase of about 3 billion dollars in the foreign exchange reserves ending on February 23. With an increase of $ 2.97 billion, it has increased to $ 619.07 billion, which was $ 616.097 billion in the first week. Foreign currency assets have also increased and have reached $548.18 billion with an increase of $2.40 billion.
An increase has also been seen in RBI's Gold Reserve. Gold Reserve has reached $47.84 billion with an increase of $472 million. There has also been an increase of 89 million dollars in SDR and it has stood at 18.19 billion dollars. Deposit reserves in IMF stood at $4.83 billion with a jump of $9 million.
Whenever the RBI intervenes to control the domestic currency or to stop its fall against the dollar, a change in foreign exchange reserves has been seen. In October 2021, the foreign exchange reserves had reached the level of 645 billion dollars, but after the start of the Russia Ukraine War, there was a big decline in it.
While the currency market (Forex Market) There has been a slight strengthening of the rupee against one dollar. With the strengthening of 2 paise, the rupee has closed at the level of 82.90 against one dollar.
Also read
< a title="India GDP Data: Why are questions being raised on the figure of 8.4% GDP in the third quarter?" href="https://www.abplive.com/business/gdp-or-gva-which-is-better-tool-to-measure-economic-growth-as-economists-differ-from-gdp-q3-data-2627244" target="_self">India GDP Data: Why are questions being raised on the figure of 8.4% GDP in the third quarter?
Get more latest business news updates