Growth in the country's foreign exchange and gold reserves

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MUMBAI: Amid chaos in the equity-debt market, Indian foreign exchange reserves rose last week. India's foreign exchange reserves rose by ૭૬ 2.6 billion to ૬૩૨ 2.7 billion in the week ended February 15.

According to the weekly data released by the Reserve Bank of India, foreign exchange reserves rose by ૭૬૨ 2.7 billion to ૬૩૨ 2.7 billion in the week ended February 18, 2008. It may be mentioned here that the country's foreign exchange reserves reached a historic high of ૪૫૩ 4.5 billion on September 4, 2021.

Foreign currency assets, which account for a significant share of the total reserves. Depreciation of global currencies other than the dollar, such as the euro, pound and yen, against the dollar also affects the FCA.

Last week's rise in foreign exchange was attributed to Foreign Currency Assets (FCAs). FCA accounts for a significant portion of total currency reserves. The Reserve Bank of India (RBI) said India's FCA rose by ૪૯૬ 1.6 billion to ૬ 3.08 billion in the reporting week.

During this period, the value of gold reserves increased by ૨૭૪ 1.6 billion to ૫ 21.305 billion.

During the week under review, the International Monetary Fund's special drawing rights fell by ૧ 111 million to ૯ 17.12 billion and the reserves with the International Monetary Fund rose by લાખ 3 million to ૨૨ 2.31 billion.

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