Strong jump in foreign exchange reserves, reserve increased!!!
Strong jump in foreign exchange reserves, reserve increased!!!
There has been a strong jump in foreign exchange reserves this week. According to the data of the bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india, the foreign exchange reserve has reached $ 674.66 billion with a jump of $ 4.54 billion, which is slightly less than the all-time high. This increase in foreign exchange reserves has come due to increased FPI investment.
The bank OF INDIA' target='_blank' title='reserve bank of india-Latest Updates, Photos, Videos are a click away, CLICK NOW">reserve bank of india has released the data of foreign exchange reserves for the week ending on 16 august 2024. According to the data, this week once again there has been an increase in foreign exchange reserves and with an increase of $ 4.54 billion, it has come to $ 474.66 billion. In the previous week, the reserve was $ 670.119 billion.
According to RBI data, foreign currency assets have increased by $3.609 billion and stood at $591.56 billion. RBI's gold reserve has also seen a great increase and it has come to $60.10 billion with a jump of $865 million. SDR has increased by $60 million to $18.34 billion and the reserve in the international Monetary Fund has increased by $12 million to $4.65 billion.
If we look at the reasons for the increase in foreign exchange reserves, FPI has seen a boom during this period. Its effect has also been seen in the indian stock market, which has seen a great boom in the last few trading sessions. In the currency market, the rupee closed at the level of 83.90 with a gain of 6 paise against one dollar.
In 2024, India's foreign exchange reserves have seen a jump of $55 billion. According to the Monthly Economic review of July released by the Department of Economic Affairs, Ministry of Finance on Thursday, FPI inflow of $ 10.8 billion was seen in june and July 2024. On august 2, India's foreign exchange reserves reached an all-time high of $ 675 billion.