HomeLifestyleForex Reserves: Country's treasury increased by $ 14.72 billion, foreign exchange reserves...

Forex Reserves: Country’s treasury increased by $ 14.72 billion, foreign exchange reserves crossed $ 544 billion

highlights

Foreign exchange reserves increased by $ 14.72 billion to $ 544.72 billion.
The value of gold reserves increased by $ 2.64 billion to $ 39.70 billion.
Foreign currency assets increased by $ 11.8 billion to $ 482.53 billion.

New Delhi. Reversing the trend of decline in the country’s Foreign Exchange Reserves/Forex Reserves, there has been a rise. In the week ending November 11, 2022, it increased by $ 14.72 billion to reach $ 544.72 billion. This is the fastest growth since August 2021. The Reserve Bank of India (RBI) gave this information on Saturday.

However, the forex reserves have declined by over $110 billion since March. This decrease happened due to the support of the rupee by the RBI amid global instability. According to RBI data, for the week ending November 4, 2022, foreign exchange reserves were at a level of $ 529.99 billion. Earlier, in the week ended October 21, the foreign exchange reserves had decreased by $ 117.93 billion to $ 524.52 billion.

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FCA increased by $ 11.8 billion
The central bank said that during the reporting week, foreign currency assets ie FCA, considered an important component of currency reserves, increased by $ 11.8 billion to $ 482.53 billion. Expressed in dollars, FCA reflects the effects of appreciation or depreciation of non-dollar currencies such as the euro, pound and Japanese yen held in the currency reserves.

Gold reserve also increased
The value of gold reserves increased by $ 2.64 billion to $ 39.70 billion. RBI sold foreign exchange worth $10.36 billion on a net basis in September. In September, the rupee fell from 79.5 to 81.5 against the dollar. It had fallen to a record low of 83.29 in October. After this, the rupee rose 2.3 per cent between October 21 and November 11 and fell 10 paise to close at 81.74 on Friday.

Tags: business news in hindi, Golden, RBI

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