Foreign Exchange: The Reserve Bank of India (RBI) of India announced the date of the Forex Reserve. According to the data, India’s forex reserves decreased for the second consecutive week.
According to RBI, during the week ending August 25, 2023, India’s foreign exchange reserves have declined by US $ 30 million to the level of US $ 594.858 billion. It declined by US $ 7.273 billion to the level of US $ 594.888 billion in the previous reporting week.
In October 2021, India’s foreign exchange reserves stood at an all-time high of US$ 645 billion. Since last year, due to global pressure, the Reserve Bank spent its foreign exchange reserves to save the rupee.
Foreign currency assets, which form a major component of foreign exchange reserves, declined by US$ 538 million to US$ 527.249 billion in the week ended August 25. At the same time, gold reserves increased by US$ 530 million to US$ 44.354 billion.
Top 5 foreign exchanges
China: $3.38 trillion
Japan: $1.25 trillion
Switzerland: $898,588 billion
India: $594,858 billion
Russia: $578,500 billion
Note: These figures are updated till Sunday.