new Delhi. The country’s foreign exchange reserves are witnessing tremendous boom. Foreign wealth has increased for the seventh consecutive week. As a result, in the week ending November 13, the foreign currency has increased to close to $ 573 billion. While gold reserves have seen a decline. Let me tell you that during the Corona period, you have invested a lot in the Indian market towards foreign investors. Because of which a lot of money has been collected in the Indian treasury in the form of dollars. On the other hand, India has significantly reduced imports during this period. Due to which there has been a considerable reduction in spending of foreign funds.
Increase in foreign exchange reserves
According to data released on Friday by the Reserve Bank of India, foreign exchange reserves rose by $ 4.28 billion to $ 572.77 billion in a week. Foreign exchange reserves have recorded a sharp rise for the seventh week in a row. Earlier in the week ended November 6, foreign exchange reserves rose by nearly $ 8 billion to $ 568.49 billion, increased by $ 18.3 million to $ 560.71 billion in the week ended October 30, increased by $ 5.41 billion to $ 560.53 billion in the week ended October 16, October 16. In the week ended October, it increased by $ 3.61 billion to $ 555.12 billion, in the week ended 9 October, it increased by $ 5.87 billion to $ 551.51 billion and in the week ending 02 October it was increased by $ 3.62 billion to $ 545.64 billion.
Foreign exchange reserves are increasing continuously since October
|End week date||Increase (in billion dollars)||Total foreign exchange reserves (in billion dollars)|
Gold reserves fall
The central bank reported that in the week ending November 13, the largest component of foreign exchange reserves, foreign currency assets increased by $ 5.53 billion to reach $ 530.27 billion. Gold reserves, however, declined by $ 1.23 billion to $ 36.35 billion. The reserves with the International Monetary Fund also declined by $ 15 million to $ 4.66 billion, while the special drawing rights rose by $ 5.7 million to $ 1.49 billion.