FPIs open new tab INDFX tad lower at 326.63 India’s foreign exchange reserves surged to a record $675 billion as of Aug. 2, according to Shaktikanta Das, the governor of the central bank.
Some of the amounts included an increase of $7 in reserves. According to calculations by Reuters, the level of FDI stands at $6 billion in the reporting week. They had declined $3. From the prior week, it raised to $5 billion, and it is the highest level since early April, 2008.
The central bank of the country thus actively engages in the foreign exchange market to attempt at reducing excessive fluctuations in the rupee.
There are fluctuations in foreign currency assets due to the intervention undertaken by the RBI as well as fluctuations in the values of the foreign exchange reserves themselves.
Foreign exchange reserves also include reserve tranche positions in the IMF, which do not belong to India’s gold and foreign exchange assets.
