India's treasury is increasing, new record made, rise for 5th consecutive week

Ronit Kawale
Ronit Kawale - Senior Editor
3 Min Read

Mumbai. A good news has come on the country's economy front. India's foreign exchange reserves increased by $140 million to reach a new high of $642.631 billion in the week ending March 22. Reserve Bank of India gave this information. This is the fifth consecutive week when foreign exchange reserves have increased. A week before this, the total foreign exchange reserves of the country had increased by 6.39 billion dollars to 642.49 billion dollars. In September, 2021, the country's foreign exchange reserves had reached a high of $ 642.45 billion. But, amid the pressures arising from global activities, the central bank used capital reserves to arrest the fall of the rupee, which led to a slight decline in the currency reserves.

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According to Reserve Bank data, in the week ending March 15, foreign currency assets, considered an important part of the currency reserves, declined by $ 123 million to $ 568.38 billion. Foreign currency assets quoted in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves.

Read this also- Wealth doubled in one year, earnings of Rs 133 lakh crore, such money rained in the stock market, gold and silver were left behind.

Gold reserve also increased
The Reserve Bank said that during the week under review, the value of gold reserves increased by $ 347 million to $ 51.48 billion. The Reserve Bank said that Special Drawing Rights (SDR) declined by $ 57 million to $ 18.219 billion. According to the Reserve Bank, India's reserve deposits with the International Monetary Fund (IMF) also decreased by $ 27 million to $ 4.662 billion in the week under review.

Let us tell you that Forex Reserve is the amount of money or other assets kept in the central bank of any country, which is used when needed. Foreign exchange reserves are also used to pay the country's liabilities.

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Tags: Business news in hindi, Dollar, India economy, India GDP

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