Last update:
Special drawing rights (SDRS) during the week ended March 7 from $ 212 million to $ 18.21 billion, but RBI’s gold reserves decreased by $ 1.053 billion.
Forex property, a major component of reserves, increased to $ 13.993 billion to $ 557.282 billion.
The RBI said that in the fastest jump in two years, the country’s foreign exchange reserves increased by $ 15.267 billion during the week ended March 7. The overall reserves in the last week had come down from $ 1.781 billion to $ 638.698 billion.
The recent reserves were on a decreasing trend due to recent re -evaluation of foreign exchange market intervention by RBI to help reduce the instability in the rupee. Foreign exchange reserves increased to all time of $ 704.885 billion at the end of September 2024.
The rapid growth during the week under the review is being held responsible for the $ 10 billion forex swap made by the central bank on February 28, when he bought dollars against the rupee to inject liquidity in the system.
During the week, a major component of foreign exchange assets, reserves, an increase of $ 13.993 billion, showed the data released on Friday.
Expressed in the terms of the dollar, foreign exchange assets include the impact of praise or depreciation of non-American units such as euros, pounds and yens held in foreign exchange reserves.
RBI said that gold reserves declined by $ 1.053 billion during the week. Special drawing rights (SDR) were above $ 212 million to $ 18.21 billion.
India’s reserved position with IMF declined by $ 69 million in $ 4.148 billion a week, showing RBI data.
(This story has not been edited by News18 employees and a syndicated news agency has been published from PTI)
