India’s foreign exchange reserve has reached a record level.
The country’s foreign exchange reserves have increased in the last two weeks by more than 9 billion dollars, i.e. 76 billion rupees. Due to which the Forex reserve has reached a new all-time high. The increase in foreign exchange reserves is considered a good sign for the economy. This results in a strengthening of the national currency. Also, there is no problem importing. The problem that Pakistan is going through.
According to experts, India is busy increasing its exports. And it plans to limit imports. In such a situation, a further increase in foreign exchange reserves may be seen in the coming days. In the last week we have seen an increase of more than 4 billion dollars in foreign exchange reserves. Occasions like this are rarely seen when foreign exchange reserves increase by more than $4 billion in two consecutive weeks. Let us also tell you what level the country’s foreign exchange reserves have currently reached?
Foreign exchange reserves at a record level
The country’s foreign exchange reserves increased in the week ending June 7 by $4.307 billion, or about Rs 36 billion, and reached a new high of $655.817 billion. The previous week, foreign exchange reserves reached the figure of 651.51 billion dollars, with an increase of 4.837 billion dollars, that is, more than 40 billion rupees. Previously, the highest level of foreign exchange reserves was $648.87 billion on May 10. In recent weeks, a significant increase in foreign exchange reserves has been observed.
Increase of 76 billion rupees in two weeks
If we talk about the last two weeks, the country’s foreign exchange reserves have increased by 9.14 billion dollars, that is, more than 76 billion rupees. Thanks to this, the country’s foreign exchange reserves not only reached the level of 650 billion dollars, but went much further. If you look at the numbers, so far this year, there has been an increase of $32.62 billion i.e. over Rs 2.72 lakh crore in foreign exchange reserves. According to experts, the country’s foreign exchange reserves may reach 700 billion dollars this year.
There was also an increase in these
According to data from the Reserve Bank, foreign currency assets, considered a major part of foreign exchange reserves, increased by $3.773 billion to $576.337 billion in the week ending June 7. On the other hand, the Reserve Bank said that in the last week gold reserves increased by $481 million to $56,982 million. SDRs have increased by $43 million to $18,161 million. According to the Reserve Bank, India’s reserve deposits with the International Monetary Fund (IMF) also increased by $10 million to $4,336 million.
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