By Admin 
India’s Forex Reserve: This relief news has come amid global tension and long-running talks on a trade deal with America. The Reserve Bank of India (RBI) said on Friday that India’s foreign exchange reserves increased by $ 392 million to $ 687.19 billion in the week ending January 9. In the previous reporting week, the country’s total foreign exchange reserves had declined by $9.809 billion to $686.80 billion.
decline in foreign currency assets
According to RBI data, during this period, Foreign Currency Assets (FCA), the largest component of foreign exchange reserves, recorded a decline of $ 1.124 billion, reducing it to $ 550.866 billion.
Foreign currency assets expressed in dollar terms also include the effect of fluctuations in the value of non-US currencies such as the euro, pound and yen.
Strong surge in gold reserves
The most positive aspect of this week was the sharp increase in gold reserves. According to RBI, gold reserves increased by $ 1.568 billion to reach $ 112.83 billion. Special Drawing Rights (SDR) declined by $39 million to $18.739 billion.
At the same time, India’s reserve position with the International Monetary Fund (IMF) decreased by $ 13 million to $ 4.758 billion. Although there was a decline in foreign exchange assets, there was an increase in the total foreign exchange reserves due to a strong increase in gold reserves. India’s strong forex reserves amid global instability reflect the country’s economic stability and ability to deal with external shocks.
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