Forex Reserve
India's Forex Reserves Reach $634.59 Billion, Gold Reserves Increase by $824 Million
However, gold reserves, which form part of the foreign exchange kitty, increased by $824 million to $67.1 billion during the week, according to the figures.
Bangladesh's Forex Reserves Fall to $18.61 Billion
The Bangladesh Bank data showed the country's foreign exchange reserves stood at 18,611.40 million dollars on Nov. 28, the last working day of the month, according to the International Monetary Fund (IMF) calculation method, Xinhua news agency reported.
India's Forex Reserves Reach $684.8 Billion, Gold Reserves Increase by $1.2 Billion
Gold reserves, though, part of the country's forex kitty and monitored by the central bank, increased by $1.2 billion during the week to $69.8 billion.
India's Forex Reserves Reach $684.8 Billion as Gold Reserves Increase
The central bank said the gold reserves, that are a part of the foreign exchange kitty, had increased to $68.53 billion in the week ended 5 May from $67.45 billion.
India's Foreign Exchange Reserves Reach $688 Billion as Gold Reserves Increase
In addition, gold now serves as a safe haven against US economic sanctions. Historically, gold is a safe haven asset and has served as a hedge against inflation. And yet, gold has risen to unprecedented levels even though inflation continues to be subdued.
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.
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