look news india
India Forex Reserve : There is a good news about the Indian economy and it is related to the country's income. Actually, the central bank has shared the data of foreign exchange reserves on Friday. According to which India's foreign exchange reserve has reached a record high. This is the fourth consecutive week when there has been a jump in the figures. If we look at the RBI data, the foreign exchange reserve increased to $ 689.235 billion in the week ending September 6.
Increase of more than 5 billion dollars in a week
India's foreign exchange reserves (forex reserves) continue to rise. With the increase for the fourth month, it has now reached close to $ 700 billion. In fact, a massive jump of $ 5.248 billion was seen in the week ending September 6. This took the reserves to a new lifetime high of $ 689.235 billion. In this first week, the figure of foreign exchange reserves was $ 683.987 billion.
Forex position on RBI data
Along with the increase in foreign exchange reserves, India's other reserves have also seen a rapid increase. During this period, the foreign currency asset reserve (FCA) increased by $ 5.107 billion and now it is at a new level of $ 604.144 billion. It is worth noting that FCA also includes the effect of fluctuations in non-US currencies like Euro, Pound and Yen present in the foreign exchange reserves.
There is also a big increase in gold reserves
Along with the foreign exchange reserves, the Reserve Bank of India presented the data and said that the country's gold reserves have also increased by $129 million and it has become $61.988 billion. Along with this, the gold deposited in the government or government bank is called 'gold reserve'. It is deposited to support the Indian currency. Gold reserves protect the growing countries from inflation and support the economy.
Also increase deposits with IMF
The central bank data also includes other figures. One of these is the Special Drawing Rights (SDR), which then rose by $ 4 million to $ 18.472 billion. Along with this, India's deposits with the International Monetary Fund (IMF) increased by $ 9 billion to $ 4.631 billion in the week ended September 6.
