India’s forex reserves rise by $1.85 billion to $595.05 billion

India’s forex reserves rise by $1.85 billion to $595.05 billion

• India’s foreign exchange reserves have shown a positive trend as it rose by $1.853 billion to $595.051 billion in the week ended on June 30, according to the Reserve Bank of India (RBI). However, the overall reserve had previously experienced a decline of $2.901 billion to $593.198 billion in the preceding reporting week.

• Foreign exchange reserves encompasses a wide range of assets held by a country’s central bank. These assets include physical banknotes and coins, financial deposits, bonds, treasury bills, gold and other government securities.
• ​​​​​​​India’s gold reserves experienced a decline of $472 million to $43.832 billion during the same period, as reported by the RBI. The reduction in gold reserves indicates potential adjustments in the central bank’s portfolio composition or other strategic considerations.
  

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Published date : 10 Jul 2023 05:48PM