By Admin 
India’s Forex Reserve: On one hand, there is instability in the global markets due to the possibility of a possible conflict between America and Iran and on the other hand, a decline in the Indian Rupee is being seen in the currency market, on the other hand, a reassuring news has emerged for India. However, gains were registered in the domestic stock market on Friday.
Foreign exchange reserves at new high
According to data released by the Reserve Bank of India (RBI), the country’s foreign exchange reserves increased by $ 8.66 billion to reach its all-time high of $ 725.72 billion in the week ending February 13. Earlier, in the week ending February 6, foreign exchange reserves had declined by $ 6.71 billion to $ 717.06 billion. The previous highest level of $723.774 billion was recorded in January.
Increase in foreign currency assets: According to RBI, foreign currency assets (FCA), considered the largest component of foreign exchange reserves, increased by $ 3.55 billion to $ 573.60 billion in the week under review. These dollar-denominated assets also include the impact of fluctuations in the value of non-US currencies such as the euro, pound and Japanese yen.
Increase in gold reserves
Gold reserves and SDR also increased. The value of gold reserves increased by $ 4.99 billion to $ 128.46 billion. Special Drawing Rights (SDR) increased by $ 103 million to $ 18.92 billion.
At the same time, India’s reserve position with the International Monetary Fund (IMF) increased by $19 million to $4.734 billion. Rupee continues to fall. Despite the record increase in foreign exchange reserves, the rupee remains under pressure. The rupee fell 31 paise to close at 90.99 (provisional) against the US dollar.
In the interbank foreign exchange market, the rupee opened at 90.94 and touched a low of 91.04 during trading. According to analysts, the bullish trend in the domestic stock market also failed to support the rupee. Potential tensions between the US and Iran had a negative impact on investor sentiment, which directly impacted the rupee.