Forex reserves rise by $2.32 billion to $573.9 billion

New Delhi, August 06 (H.S.). There is good news for the government on the economic front. The country’s foreign exchange reserves have increased after falling for the last four weeks. Forex reserves rose by $2.32 billion to $573.9 billion for the week ended July 29, as against a decline of $1.15 billion to $571.56 billion […]
 


Forex reserves rise by $2.32 billion to $573.9 billion

New Delhi, August 06 (H.S.). There is good news for the government on the economic front. The country’s foreign exchange reserves have increased after falling for the last four weeks. Forex reserves rose by $2.32 billion to $573.9 billion for the week ended July 29, as against a decline of $1.15 billion to $571.56 billion in the previous week. The Reserve Bank of India (RBI) gave this information in the data released.

According to RBI data, the increase in foreign exchange assets (FCA), gold reserves and special drawing rights (SDRs) has led to an increase in the country’s foreign exchange reserves. According to the data, forex reserves increased by $2.32 billion to $573.9 billion for the week ended July 29.

According to the Reserve Bank, in the week ended July 22, foreign exchange reserves had declined by $ 1.152 billion to $ 571.56 billion, while it declined by $ 7.541 billion to $ 572.712 billion in the week ended July 15 and 8.062 billion in the week ended July 8. billion had fallen to $ 580.252 billion. On July 1, it declined by $5.08 billion to $588.314 billion.

According to RBI’s weekly data, forex assets, the largest component of forex reserves, rose by $1.12 billion to $511.3 billion for the week ended July 29. The value of gold reserves jumped by $1.14 billion to $39.64 billion during this period. Similarly, the SDR rose by $22 million to $17.98 billion in the week under review. In addition, reserves with the International Monetary Fund (IMF) rose by $31 million to $4.99 billion.