Thursday, March 28th, 2024

Forex Reserves: Foreign exchange reserves increased for the third consecutive week, gold reserves also increased


Highlights:

$3.03 billion jump in forex reserves
FCA increased by $ 2.66 billion to $ 509.01 billion
The value of gold reserves increased by $ 316 million to $ 44.027 billion

New Delhi. Good news has been received for the third consecutive week on the foreign exchange reserve front. In fact, the country’s foreign exchange reserves increased by $3.03 billion to $576.76 billion during the week ended January 27. The Reserve Bank of India (RBI) gave this information on Friday.

This is the third consecutive week when foreign exchange reserves have increased. Last week, foreign exchange reserves had increased by $ 1.72 billion to reach $ 573.727 billion. Significantly, in October 2021, foreign exchange reserves had reached an all-time high of $ 645 billion. It declined later as the central bank used reserves to counter a sharp fall in the rupee’s exchange rate amid global developments.

PressWire18 provides latest news, bollywood news, breaking news hollywood, top tech news, business standard news, indian economy news, world economy news, travel news, mumbai news, latest news mumbai loksabha election 2024, video viral news, delhi news, Only at Only at Presswire18.com

Read This Also:- RBI Governor said a big thing about the economy, the burden of interest will not reduce, but…

FCA increased by $ 2.66 billion
According to RBI’s weekly data, foreign currency assets ie FCA (Foreign Currency Assets), considered an important part of the total currency reserves, increased by $ 2.66 billion to reach $ 509.01 billion in the week ended January 27. Denominated in dollars, FCA also includes the effect of appreciation or depreciation in the value of other foreign currencies such as the euro, pound and yen held in foreign exchange reserves.

Read This Also:- How RBI chooses the safest bank, why the government throws everything to save them, where is your money safe now

Gold reserve increased by $ 316 million
Apart from this, the value of gold reserve increased by $ 316 million to $ 44.027 billion in the reporting week. According to the data, the Special Drawing Right (SDR) increased by $46 million to $18.478 billion. In the reporting week, the country’s currency reserves kept with the International Monetary Fund (IMF) increased by $ 11 million to $ 5.23 billion.

Tags: business news, business news in hindi, Golden, rbi

Source Link

The stock market broke on a two-day fast, the Sensex broke 126 points and opened below 61,000.

Photo: File Share Market Share Market There has been a brake on the vigorous rally going on for the last two days. On Thursday, on the day of weekly expiry, the BSE Sensex opened...

What will be the changes from the new year, know how much it will affect your pocket

Key Changes from 1 January 2023: The new one is going to start in a few hours. Let us tell you that from the new year, there are going to be important changes in...

Mahindra cars and commercial vehicles will become expensive from January 2024, the company gave the reason

Photo:Official website Mahindra sells many models in the SUV segment. Domestic automobile manufacturer Mahindra & Mahindra has also announced on Wednesday the increase in the prices of its passenger and commercial vehicles from January...