Forex Reserve
India's Forex Reserves Increase by $223 Million, Reaching a New High of $689.45 Billion
It showed that for the week ended September 13, foreign currency assets, an important component of reserves, had however dipped by USD 515 million to USD 603.629 billion. In dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
India's Forex Reserves Rise by $2.3 Billion to Record High of $683.9 Billion
In the week ended August 23, the country's forex reserves jumped $7.023 billion to touch a new high of $681.68 billion.
India's Forex Reserves Surge by $4.6 Billion, Reaching $674.7 Billion
In the week ended August 16, foreign currency assets, a major component of the reserves, increased by $3.6 billion to $591.6 billion, the RBI data showed.
India's Forex Reserves Hit Record $675 Billion, According to RBI Governor
Das also pointed out that there is a declining trend of CAD to 0.7% of GDP in 2023-24 from 2.0% in 2022-23 by the support of the lower trade deficit, solid performances of services, and remittances.
NRI Forex Deposits Quadruple to $2.7 Billion in April-May
These large infusions of foreign exchange have also brought strength to the rupee. The RBI's report says that the rupee is the most stable major currency at present.
India's Foreign Exchange Reserves Surge to $653.7 Billion, Up by $816 Million
Last week, the country's forex reserves added $4.3 billion to end at an unprecedented $655.8 billion on June 7. The reserve build-up reflects strengthening economic fundamentals and provides better ability to the RBI to intervene in case of rupee volatility.
India Achieves Record High Foreign Exchange Reserves: Reaches $655.8 Billion
The rise in foreign exchange reserves was accompanied by Commerce Ministry data showing a sharp 9% growth in the country's goods exports in May.
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