look news india
This week has been full of ups and downs for India. The journey from the fall in the market on August 5 to the recovery has been very special for investors. Full recovery has not happened yet. Meanwhile, there is big news of RBI not changing the repo rate. Now RBI has said something big about India's foreign exchange in its latest report. The central bank said that in the week ending August 2, the country's foreign exchange reserves increased by $ 7.53 billion to a new record high of $ 674.91 billion.
What did RBI Bank say?
Earlier, the Reserve Bank of India had said that the total foreign exchange reserves fell by $ 3.47 billion to $ 667.38 billion in the week ended July 26. Whereas on July 18, it was at an all-time high of $ 670.85 billion. According to the data of the Reserve Bank, foreign currency assets, an important part of the currency reserves, increased by $ 5.16 billion to $ 592.03 billion in the week ended August 2.
gold reserves increased
Foreign exchange reserves in relation to the US dollar include the impact of fluctuations in non-US currencies such as the euro, pound and yen. The Reserve Bank said that the value of gold reserves increased by $ 2.40 billion to $ 60.09 billion during the week.
Earlier RBI had released the report
According to the data released by RBI, India's domestic gold reserves have increased by 40 percent between March-2019 and March-2024. Meanwhile, the total gold reserves have increased by 34 percent. By the end of this year, RBI had a total of 822 tonnes of gold, out of which 408 tonnes of gold is kept within the country. By the end of March-2019, the total gold reserves were 612 tonnes, while there was 292 tonnes of gold domestically. The share of gold in foreign exchange reserves increased from 7.37 percent at the end of September last year to 8.15 percent at the end of March-2024.
