Forex reserves decreased by USD 7.5 billion to USD 572.7 billion
Sakshi Education
- The Reserve Bank of India (RBI) most recent data shows that during the ending week of July 15, India’s foreign exchange reserves decreased by $7.5 billion to $572.7 billion. The reserves have dropped to their lowest level in 20 months, or since November 6, 2020, when they were $568 billion.
- The report showed that foreign currency assets, which decreased by $6.5 billion over the week, were the main cause of the reduction in foreign exchange reserves.
- Shaktikanta Das, governor of the RBI, stated that the existing level of foreign exchange reserves is sufficient.
- According to the July RBI report, the foreign exchange reserves at $580.3 billion on July 8, 2022, were sufficient to cover 9.5 months’ worth of anticipated imports for the years 2022–2033.
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Published date : 27 Jul 2022 06:10PM