Indian Foreign Exchange: Amidst the impact of inflation on the pockets of people in India, RBI has announced a good news. According to the Reserve Bank of India (RBI), India’s foreign exchange reserves have strengthened. RBI Governor Sanjay Malhotra has told about this. He said that in the week ending May 28, the country’s foreign exchange reserves increased from $938 million to $682.32 billion.

Rupee became stronger despite fall
He further said that a week before this, the foreign exchange reserves had decreased by $ 7.51 billion to $ 681.38 billion. At the end of February this year, India’s foreign exchange reserves had reached a record level of $ 728.49 billion. However, due to rising tensions in West Asia and pressure on the rupee against the dollar, there was a decline in reserves for several weeks thereafter.

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What do the latest RBI figures say?
According to the latest RBI data, the main reason for the increase in foreign exchange reserves was the increase in foreign currency assets (FCA). It increased by $3.12 billion to $546.15 billion. Forms the largest part of foreign exchange reserves. Apart from the dollar, these also include other foreign currencies like Euro, Pound and Yen. Changes in the value of these currencies also affect the foreign currency.

Gold reserve also decreased
At the same time, the country’s gold reserve has also decreased. In the week under review, it decreased by $ 2.18 billion to $ 112.6 billion. Apart from this, Special Drawing Rights (SDR) issued by the International Monetary Fund (IMF) remained stable at $ 18.75 billion. At the same time, India’s reserve position in IMF increased from $80 lakh to $4.82 billion.

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