India Forex Reserve Data: There has been a tremendous jump in Foreign Exchange Reserves. The Reserve Bank of India has released this data regarding foreign exchange reserves, according to which, in the week ending March 17, 2023, there has been an increase of $ 12.8 billion in the country’s foreign exchange reserves. This is the biggest jump in foreign exchange reserves after 11 November 2022. RBI’s forex reserves are at their highest level after February 3, 2023.
This big jump in foreign exchange reserves has come due to rapid jump in foreign currency assets of RBI. According to RBI data, there was a jump of $ 10.49 billion in foreign currency assets and it has increased to $ 505.35 billion.
In October 2021, the country’s foreign exchange reserves had reached an all-time high of US $ 645 billion. The latter is witnessing a fall as the central bank uses reserves to counter a sharp fall in the rupee’s exchange rate amid global developments.
Expressed in dollars, foreign currency assets also include the effects of movements in non-US currencies such as the euro, pound and yen. The Reserve Bank said that the value of gold reserves increased by $ 2.187 billion to $ 44.109 billion. According to the data, the special drawing rights (SDRs) also increased by $ 98 million to $ 18.219 billion. The country’s reserve position with the International Monetary Fund (IMF) also increased by $ 29 million to $ 5.125 billion in the week under review.  ;
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