New Delhi. The country’s foreign exchange reserves have increased. In the week ending October 28, 2022, it increased by $ 6.56 billion to reach $ 561.08 billion. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.
Recently, a declining trend was observed in the country’s foreign exchange reserves. Due to this, foreign exchange reserves had declined by $ 3.84 billion to $ 524.52 billion last week. A year ago, in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion.
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FCA raised by $5.77 billion
The main reason for the fall in the country’s currency reserves is that the central bank is taking help from the currency reserves to stop the fall of the rupee. According to the weekly data released by the Reserve Bank on Friday, the foreign currency asset (FCA), considered an important component of currency reserves, increased by $ 5.77 billion to $ 470.84 billion in the week ended October 28. Expressed in dollars, FCAs reflect the effects of a decrease or increase in the value of non-dollar currencies such as the euro, pound and Japanese yen held in reserves.
Gold reserve increased by $ 556 million
According to the data, the country’s gold reserve increased by $ 556 million to $ 37.762 billion in the reporting week. The central bank said that the Special Drawing Right (SDR) has increased by $ 185 million to $ 17625 billion. The country’s foreign exchange reserves kept in the IMF increased by $ 48 million to $ 4.847 billion.
Tags: gold, RBI, Reserve Bank of India
FIRST PUBLISHED : November 04, 2022, 21:38 IST