By Admin 
India Forex Reserve: India’s foreign exchange reserves have increased by $ 6.596 billion to $ 665.396 billion during the week ended March 28. The Reserve Bank of India said on Friday that the foreign exchange reserves had increased by $ 4.53 billion last week. This is the fourth consecutive week when the country’s foreign increased currency reserves. Recently, it was a decline in the Reserve Bank of India’s foreign exchange market to reduce the instability in the rupee.
Forex assets also increased
By the end of September 2024, the country’s foreign exchange reserves increased to $ 704.88 billion all-time high level. According to the data released on Friday, foreign exchange assets also increased to $ 6.16 billion to $ 565.01 billion in the week, which ended on March 28. Foreign exchange assets mentioned in terms of dollars include the effects of the decrease of non-American currencies such as the euros, pounds and yen placed in foreign exchange reserves.
Gold reserve of the country also increased
Please tell that during this time the gold reserve reserves also increased. The RBI said that gold reserves also increased by $ 519 million to $ 77.79 billion in the week under review. Special drawing rights (SDR) declined by $ 65 million to $ 18.18 billion. According to the data, during this period, the country’s reserved reserves with the International Monetary Fund (IMF) declined by $ 1.6 million to $ 4.41 billion. Please tell that during this time, the foreign exchange reserves of India’s neighboring country Pakistan have also increased.
Why Forex Reserve is important?
As we know that foreign exchange assets include currencies from other countries like dollars, euros, pounds, yen. The country’s foreign exchange reserves are used for paying global liabilities, implementing monetary policy, repaying debt from abroad and spending by Indians during studying, treatment or walking abroad.
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