Forex reserves up for the second consecutive week

There has been a strong increase in the country’s foreign exchange reserves for the second consecutive week. The country’s foreign exchange reserves increased by $ 6.396 billion to $ 642.492 billion in the week ending March 15. The Reserve Bank of India gave this information on Friday. A week before this, the country’s total foreign exchange reserves had increased by $ 10.47 billion to $ 636.095 billion. In October, 2021, the country’s foreign exchange reserves had reached an all-time high of $645 billion. But amid the pressures caused by global developments, the central bank used capital reserves to arrest the fall of the rupee, which led to a slight decline in the currency reserves.

These components include foreign exchange reserves

According to Reserve Bank data, foreign currency assets, considered an important part of the currency reserves, increased by $ 6.034 billion to $ 568.386 billion in the week ending March 15. Foreign currency assets denominated in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves.

The Reserve Bank said the value of gold reserves increased by $425 million to $51.14 billion during the week. The Reserve Bank said that Special Drawing Rights (SDR) increased by $ 65 million to $ 18.276 billion. According to the Reserve Bank, India’s reserve deposits with the International Monetary Fund (IMF) also increased by $ 129 million to $ 4.689 billion in the week under review.