Foreign exchange reserves are at an all-time high!!!
India's foreign exchange reserves have crossed $683 billion with a strong jump. banking sector regulator reserve bank of india (RBI) released foreign exchange reserves data on Friday. According to this, in the week ending august 30, 2024, the foreign exchange reserve has reached a record figure of $683.987 billion with a jump of $2.299 billion. It had reached $681.688 billion with a jump of $7 billion a week earlier. According to RBI, foreign currency assets, gold reserves and special drawing rights have also increased this week.
Foreign currency assets also jumped
According to RBI, till august 30, foreign currency assets also jumped by $1.485 billion and reached $599.037 billion. A week ago, foreign currency assets had reached $597.552 billion with an increase of $5.983 billion. Foreign currency assets are considered to be the largest part of foreign exchange reserves. The rise and fall in the value of Euro, Pound and Yen is seen in foreign currency assets.
Gold reserves and SDR also rose
RBI's gold Reserves have also jumped strongly. It has reached $61.859 billion with a jump of $862 million. A week ago, this figure had jumped by $893 million to $61 billion. According to the Reserve Bank, Special Drawing Rights have also increased by $ 9 million to $ 18.468 billion till August 30. Till a week ago, this figure was $ 18.45 billion with an increase of $ 118 million.
Increase due to increase in foreign investment
RBI has informed that the reserves present in the international Monetary Fund (IMF) have come down by $ 58 million to $ 4.622 billion. A week ago, this figure had increased by $ 30 million to $ 4.68 billion. Due to strong increase in foreign portfolio investment in India, there has been an increase in foreign exchange reserves. Due to increase in foreign investment in the year 2024, there has been a steady increase in foreign exchange reserves.
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