2024-09-15 03:53:24
New Delhi: India is booming on the foreign exchange reserves front. Its foreign exchange reserves have increased for the fourth consecutive week. With this, its foreign exchange reserves have once again reached a record high level. During the week ending on 6 September, it has increased by $5.24 billion. Earlier, during the week ending on 30 August 2024, it had also increased by $2.29 billion. With this, its reserves have now increased to a new height of $689.23 billion. On the other hand, its neighboring country Pakistan also got good news on this front last week. Its foreign exchange reserves have also increased this week.
where has your stock reached
According to the data released by the Reserve Bank of India, during the week ending 6 September 2024, our foreign exchange reserves have increased by $5.248 billion to $689.235 billion. A week before this, our reserves had also increased by $2.299 billion. With this, our foreign exchange reserves have reached an all-time high.
Increase in foreign currency assets
According to the weekly data released by the Reserve Bank, India’s foreign currency assets have increased during the week under review. During the week ending on September 6, there has been an increase of $5.107 billion in Foreign Currency Assets (FCAs). Now our FCA reserves have increased to USD 604.144 billion. It is worth mentioning that foreign currency assets or Foreign Currency Assets (FCA) form an important part of the total foreign exchange reserves. The foreign currency assets expressed in dollars also include the effects of fluctuations in non-US currencies such as Euro, Pound and Yen.
Gold reserve also increased
The country’s gold reserves also increased last week. India’s gold reserves increased by $129 million during the week ending September 6, 2024. Now our gold reserves have reached USD 61.988 Billion.
SDR also increased
According to the Reserve Bank data, India’s Special Drawing Right (SDR) has also increased in the past week. During the week under review, SDR increased marginally by 4 million dollars. Now it has increased to 18.472 billion dollars. In the same week, the country’s reserve currency kept with the International Monetary Fund (IMF) has also increased by 9 million dollars. Now it has increased to USD 4.631 billion.
Happiness on the face of Pakistan too
Last week, happiness was seen on the face of our neighbouring country, Pakistan. However, at this time there is a huge shortage of foreign currency there. The situation is such that only essential goods are being imported there. That is why foreign currency is being spent very cautiously there. However, last week there has been an increase in the foreign exchange reserves there. During the week ending on 6 September, there has been an increase of 56.2 million dollars in the foreign exchange reserves there. Now the foreign exchange reserves there have become 14.796 billion dollars. This will give a boost to the economy there, even if it is a little.