There is good news on the economy front after the budget. The country’s foreign exchange reserves have registered an increase for the third consecutive week. Foreign exchange reserves have jumped by $ 3.03 billion to reach $ 576.76 billion in the week ended January 27. Due to this, foreign exchange reserves had increased by $ 1.72 billion to $ 573.727 billion in the previous week. Reserve Bank of India (RBI) has given this information in the released data.
According to RBI, the foreign exchange reserves jumped by $3.03 billion to $576.76 billion in the week ended January 27. Due to this, the country’s foreign exchange reserves increased by $ 1.72 billion to $ 573.727 billion last week. According to the data, foreign currency assets (FCAs), considered an important part of the total reserves, also increased by $ 2.66 billion to $ 509.01 billion during this period.
Apart from this, the value of gold reserves also increased by $ 316 million to $ 44.027 billion. According to the data, during this period the Special Drawing Rights (SDR) increased by $ 46 million to $ 18.478 billion. During this period, the country’s currency reserves with the International Monetary Fund (IMF) also increased by $ 11 million to reach the level of $ 5.23 billion. Significantly, in October 2021, the country’s foreign exchange reserves reached a high level of $ 645 billion, while in October 2021, foreign exchange reserves were at the highest level of $ 645 billion.
It is noteworthy that the decline was due to the use of currency reserves by the central bank to prevent a sharp fall in the exchange rate of the rupee amid global developments. However, despite adverse global conditions, the fall in foreign exchange reserves has been put on hold for the time being.
