By Admin 
India Forex Reserve: The Reserve Bank of India said on Friday that India’s foreign exchange reserves have increased by $ 8.31 billion to $ 686.145 billion in the week ended April 18. The country’s foreign exchange reserves have been increasing for seven weeks continuously. Earlier, it increased by $ 1.567 billion to $ 677.835 billion in the previous week ended on 11 April.
Forex Reserve on All-Time High in September
In September 2024, the country’s foreign exchange reserves reached its all -time high level of $ 704.885 billion. The data released for the week ended on April 18 indicates that foreign exchange assets, considered an important part of the foreign exchange reserves, have increased by $ 3.516 billion to $ 578.495 billion. According to the news agency PTI, the foreign exchange assets mentioned in the context of the dollar include the influence of the subversion of non-American currencies such as euros, pounds and yens placed in foreign exchange reserves.
The country’s gold reserves also increased
The Reserve Bank said that during this period, the gold reserve has increased by $ 4.575 billion, which has reached $ 84.572 billion. According to the Reserve Bank, the Special Drawing Rights (SDR) has increased by $ 212 million to $ 18.568 billion. RBI data has shown that the IMF registered an increase of $ 7 million in India’s reserved situation, reaching $ 4.51 billion in a week under review.
Why is foreign exchange reserves important?
The country’s foreign exchange reserves help to maintain economic stability and international trade. It is used to pay imported goods, to repay foreign loans and to handle the rupee in the time of global economic crisis. Due to excessive currency in the reserve, it makes the country’s situation strong in the international market.
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