Indian foreign exchange reserves reached at 571.56 US dollar

Indian foreign exchange reserves reached at 571.56 US dollar

Team Ambitiousbaba are here with a Current Affairs Special Series. In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack in any current affairs topic. Today’s Current Affairs topic is “Indian foreign exchange reserves reached at 571.56 US dollar

The central bank of India Reserve Bank of India has released the data on Indian foreign exchange reserve which shows that India’s foreign exchange reserves slowed down by USD 1.152 billion to USD 571.56 billion.

The reserves have been decreasing due to the continuous volatility in the rupee. Indian Rupee is significantly depreciating against the US dollar.

Previous declining data:

The overall reserves have been already declined by USD 7.541 billion to USD 572.712 billion in the previous reporting week.

Controlling the volatility in the Indian rupee in between the pressures due to rising interest rates in the developed world, high commodity prices and foreign portfolio investment outflows has triggered in heavy decline in the foreign exchange assets which had mounted to an all-time high of USD 642 billion in September 2021.

The report shows data to the week ended July 22, the foreign currency assets slipped down by USD 1.426 billion to USD 510.136 billion. The data has been prepared by the Reserve Bank of India (RBI) its weekly report released on Friday.

Expressed in dollar terms the foreign currency assets which include the effect of appreciation or depreciation of non-US units like the euro, pound and yen bear in the foreign exchange reserves.

Increasing Gold reserves:

The value of the gold reserves climbed up by USD 145 million to USD 38.502 billion as per the apex bank official data.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) go up ward by USD 106 million to USD 17.963 billion.

The country’s reserve position with IMF has seen growth and rose by USD 23 million to USD 4.96 billion in the reporting week.

Question & Answer:

Q1. The reserve foreign exchange has been dive to what percent in report week of 22 July?

Ans. USD 571.56 billion

Q2. The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) increased at how much billion dollar?

Ans. USD 17.963 billion

Q3. The value of Gold reserves has been climbed up how much billion dollar with Reserve Bank of India?

Ans. Increased by USD 145 million to USD 38.502 billion

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