Foreign Exchange Reserves: India’s foreign exchange reserves have reached a new historical high. According to RBI data, in the week ending September 20, 2024, foreign exchange reserves have increased by $ 2.83 billion to reach an all-time high of $ 692.29 billion, which was $ 689.48 billion in the previous week. Was.
The Reserve Bank of India has released the data of forex reserves, according to which the foreign exchange reserves have increased by $ 2.838 billion to reach $ 692.296 billion for the week ending September 20, 2024. Now foreign exchange reserves are just $8 billion away from touching the historic high of $700 billion. There has been a strong jump in foreign currency assets and it has increased by 2.057 billion dollars to 605.686 billion dollars. There has also been a strong increase in the gold reserves of RBI and it has increased by 726 million dollars to 63.61 billion dollars. SDR stood at $18.54 billion with an increase of $121 million. There has been a decrease in the reserves deposited in the International Monetary Fund and it has decreased by 66 million dollars to 4.45 billion dollars.
There has been a weakness in the rupee against one dollar in the currency market. With a weakness of 5 paise, the rupee closed at the level of Rs 83.70 which was 83.65 in the last session.
The main reason for the increase in foreign exchange reserves is the vigorous investment by Foreign Portfolio Investors (FPIs) in the Indian market in the month of September. In the September quarter, FPIs have invested Rs 87,000 crore and so far in the month of September alone, FPI has invested more than Rs 34,000 crore. This is the reason why the Indian stock market is at an all-time high and its effect has been seen on the foreign exchange reserves. India’s foreign exchange reserves have increased by more than $68 billion in the year 2024.
read this also
China Cash Handout: China’s Xi Jinping government will give cash to its citizens on this day, preparations to rescue the economy from the crisis.
