India’s Forex Reserves Rise by $ 1.5 billion to just over $ 695 billion – CNBC TV18

India’s Foreign Exchange Reserves Rose by $ 1.49 billion to $ 695.11 billion in the week ended August 15, Latest RBI Data Showed.

The Increase was LED by a $ 1.92-Billion Jump in Foreign Currency Assets, which study at $ 585.90 billion. In Contrast, Gold Reserve Fell by $ 493 Million to $ 85.67 billion.

The RBI Said Special Drawing Rights (SDRS) rose by $ 41 million to $ 18.78 billion.

India’s Reserve Position With the International Monetary Fund (imf) Inched up by $ 15 million to $ 4.75 billion in the latest reporting week. In the Previous Reporting Week, Reserves Had Increased by $ 4.75 Billion to $ 693.62 Billion. The Reserve Bank of India (RBI) Intervenes in the Forex Market as Part of its liquidity management measures, inclined selling dollars, to curb sharp depreciation in the rupee. The Central Bank Maintains that Such Interventions are aimed soly at ensuring ordered market conditions by containing undue Volatily in the Exchange Rate, without adhering to any fixed target or band.

Also read: Indranil Bhattacharyya Joins RBI’s Monetary Policy Committee as EX-OFFIFICIO Member

Ramesh Ghorai is the founder of www.livenewsblogger.com, a platform dedicated to delivering exclusive live news from across the globe and the local market. With a passion for covering diverse topics, he ensures readers stay updated with the latest and most reliable information. Over the past two years, Ramesh has also specialized in writing top software reviews, partnering with various software companies to provide in-depth insights and unbiased evaluations. His mission is to combine news reporting with valuable technology reviews, helping readers stay informed and make smarter choices.

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