India’s foreign exchange reserves swelled amid G20 meeting
[ad_1]
increased dollar reserves
According to the data released by the Reserve Bank of India, during the week ending September 1, its foreign exchange reserves have increased by more than four billion dollars. With this, now its foreign exchange reserves have increased to $598.897 billion. However, a week before this, it had declined by $30 million during the week ending August 25. Historically, India’s foreign exchange reserves had reached an all-time high of $645 billion in October 2021.
Foreign currency assets also increased
According to the weekly data released by the Reserve Bank, India’s foreign currency assets have increased during the week under review. Foreign Currency Assets (FCAs) increased by $3.442 billion to reach $530.691 billion during the week ended September 1. A week earlier, it had decreased by USD 538 million during the week ending 25 August. It is noteworthy that Foreign Currency Assets (FCAs) form a significant part of the total foreign exchange reserves. Expressed in dollars, foreign currency assets also include the effects of movements in non-US currencies such as the euro, pound and yen.
Gold reserve also increased
Gold reserves of India have also increased during the week ending on 1st of this month. Gold reserves increased by $584 million this week. Even a week before this, it increased by USD 530 million. Now its gold reserves have become USD 44.939 billion.
Bharat Mandapam equal to 26 football stadiums, bigger than Sydney’s opera, do you know how much it cost?
SDR also increased
According to the Reserve Bank data, India’s Special Drawing Right or Special Drawing Rights (SDR) has also increased in the last week. The SDR has increased by $1 million to $18.195 billion during the week under review. A week before this, it had decreased by USD 11 million. According to the Reserve Bank data, the country’s currency reserves kept with the International Monetary Fund (IMF) have also increased in the week under review. It increased by USD 12 million during the week under review. Now it has increased to USD 5.073 billion.
Dollar reserves decreased again in Pakistan
Things are not going well these days in our neighboring country Pakistan. If we talk about the overall economic situation there, then at present the situation looks like a pauper. There was again a decrease of $ 44.4 million in foreign exchange reserves there during the week ending September 1. Now only $ 13.12 billion foreign exchange reserves are left there. A week before this, it means that even during the week ending August 18, there was a decrease of $ 77.3 million in the foreign exchange reserves there.
G20 is in Delhi, then why are the bookings in hotels of Jaipur, Mussoorie, Goa full?
[ad_2]
Source link
