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Live Breaking News: Foreign Exchange Reserves: Foreign exchange reserves slip below $ 600 billion, forex reserves remain at $ 595 billion . . . #viralnews #viral #news #trending #viralpost #india #breakingnews #maharashtra #explorepage #tv #viralphoto #trendingnews #maharashtranews #viralcypher

India's foreign exchange reserves increased to $642.50 billion In the week ending March 15, the country's foreign exchange reserves increased by $ 6.396 billion to $642.492 billion. A week before this, the country's total foreign exchange reserves had increased by $10.47 billion to $636.095 billion. In October 2021, the country's foreign exchange reserves had reached an all-time high of $645 billion. However, amid the pressures caused by global developments, the central bank used capital reserves to arrest the fall of the rupee, which led to a slight decline in the currency reserves. According to Reserve Bank of India (RBI) data, foreign currency assets considered an important part of the currency reserves, increased by $6.034 billion to $568.386 billion in the week ending March 15. Foreign currency assets denominated in dollar terms include the impact of movements in non-US currencies such as the euro, pound, and yen held in foreign exchange reserves. The value of gold reserves increased by $425 million during the week to $51.14 billion. Special Drawing Rights (SDR) increased by $65 million to $18.276 billion. According to the Reserve Bank, India's reserve deposits with the International Monetary Fund (IMF) also increased by $129 million to $4.689 billion in the week under review.

India’s foreign exchange reserves, which peaked at $642 billion in October 2021, declined for most part of last year. The trend reversed this year with forex reserves touching a 15-month high of $609 billion. Read this lovely Explainer from Livemint to know the reasons behind it. #upsc #indianeconomy

India's foreign exchange reserves generally held in reserve currencies, usually the US Dollar and, to a lesser degree the Euro, Japanese Yen, and Pound Sterling - declined by USD 5.240 billion to USD 617.230 billion in the week that ended on February 9, coming off a month high it hit the prior week, latest data released by the Reserve Bank of India showed. Gold reserves during the week declined by USD 350 million to USD 47.739 billion. During the week that ended on February 9, India's foreign currency assets (FCA), the biggest component of the forex reserves, declined by USD 4.807 billion to USD 546.524 billion, the central bank's weekly statistical data showed. In the calendar year 2023, the RBI added about USD 58 billion to its foreign exchange kitty. In 2022, India's forex kitty slumped by USD 71 billion cumulatively. In October 2021, the country's foreign exchange reserves touched an all-time high of about USD 645 billion. The relative fall in forex reserves could be linked to the RBI's intervention, from time to time, in the market to defend the uneven depreciation in the rupee against a surging US dollar. The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band. #rbi #reservebankofindia #forex #forexnews #forexreserves #gold #goldprices #dollars #rupee #exchange #currency #currencyexchange