India Forex Reserves: Good news is coming out regarding the foreign exchange reserves of the country. India’s foreign exchange reserves have increased by $ 3.03 billion to reach $ 576.76 billion as of January 27. The Reserve Bank of India (RBI) has released the data related to foreign exchange reserves on Friday. Know what are the statistics…
Up for the third consecutive week
Continuous increase in foreign exchange reserves is being seen. This is the third consecutive week, when the bullish atmosphere is intact. India’s foreign exchange reserves have crossed a 6-month high of $576.76 billion in the week ended January 27. According to RBI data, there has been an increase of $ 3.03 billion in foreign exchange reserves. With this increase, this figure has come to $ 576.76 billion. Whereas earlier during the week ending January 20, it had increased by $ 1.727 billion to reach $ 573.727 billion.
RBI released data
According to the weekly data of the central bank RBI, Foreign Currency Assets (FCA), considered an important part of the total currency reserves, increased by $ 3.03 billion to reach $ 576.76 billion in the week. Earlier last week, foreign exchange reserves had increased by $ 10.417 billion to $ 572 billion. It may be known that many big steps were taken by the RBI last year to save the falling rupee. RBI had increased the repo rate several times. Meanwhile, a major shortfall was observed in the foreign exchange reserves. However, for the last few months, an increase in foreign exchange reserves is being registered.
Remains high in 2021
It is known that in the month of October 2021, foreign exchange reserves had reached a high level of $ 645 billion. The latter saw a fall as the central bank used reserves to counter a sharp fall in the rupee’s exchange rate amid global developments.
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