Foreign Exchange Reserves Data: India’s foreign exchange reserves are just a few steps away from touching the historic high of $700 billion. The country’s foreign exchange reserves have again reached a new all-time high. According to the Reserve Bank of India, in the week ended September 6, 2024, the foreign exchange reserves have jumped by $5.24 billion to $689.235 billion from $683.98 billion in the previous week. This is the first time that foreign currency assets have crossed $600 billion.
The Reserve Bank of India, the regulator of the banking sector, released the data of Foreign Exchange Reserves on 13 September 2024. According to this data of RBI, the foreign exchange reserves increased by $ 5.248 billion to $ 689.235 billion in the week ending September 6, 2024, from $ 684 billion in the previous week. Foreign currency assets increased by $ 5.107 billion to $ 604.144 billion.
RBI’s Gold Reserve has increased by $ 129 million to $ 61.98 billion. SDR has increased by $ 4 million to $ 18.472 billion and the reserve deposited with the International Monetary Fund has increased by $ 9 million to $ 4.63 billion. In today’s trade in the currency market, the rupee has closed at the level of 83.89 against one dollar. In today’s trade, the rupee has strengthened by 9 paise.
In the first eight months of the year 2024, India’s foreign exchange reserves have seen a jump of $ 66 billion. In the last week of 2023, the foreign exchange reserves were $ 623.20 billion. Since the results of the Lok Sabha elections were declared in the current year, there has been a huge increase in foreign investment and especially foreign portfolio investment (FPI), due to which a record increase has been seen in the foreign exchange reserves.
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