India’s forex reserves were down by $4. 8 billion to $670. Rs 119 billion for the week featuring August 9 as the cutoff date, as per the most recent data released by the RBI. In the preceding reporting week, the country’s foreign exchange reserves had risen by $7.285 billion to 533 billion and have further gone up to 674 billion. 919 billion.
Similarly, in the week to August 9, foreign currency assets, part of the reserves, declined $4.079 billion to $587. It came to £96 billion, the data unveiled on Friday revealed.
Stated in dollar terms, the foreign currency assets include the impact of appreciation or depreciation of foreign units such as the euro, pound, and yen maintained in the foreign exchange reserves.
Gold reserves were down by $860 million to $59.239 billion of currency during the week. The special drawing rights (SDRs) were up by $121 million to $18. As per the RBI data $ 282 billion market value of forex at the time of writing this paper.
The reserve position with the IMF, India’s reserve, was also augmented by USD 18 million and was recorded at USD 4. Of this, $ 638 billion in the reporting week, according to the central bank.
Sanjeev Agrawal, who is currently the president of the PHD Chamber of Commerce and Industry, said
Through Indian strategic economic management and conscious monetary policy, India has sustained its strength in FOREX in the global economic challenges and unpredictable geopolitics situation, touching $670 billion (as of August 9, 2024).
