After declining for four weeks, your foreign exchange reserves have increased, know where they have reached

BombayForeign portfolio investors have once again turned to the Indian market. Its effect was also visible on the country’s foreign exchange reserves. This is why during the week ended July 29, India’s foreign exchange reserves increased by $2.4 billion. Previously, it had declined for four consecutive weeks.

This news came after four weeks
During the week ended July 29, the stock market rose almost daily. Foreign portfolio investors (FIIs) were net investors that week. According to information received from the Reserve Bank, during the week ended July 29, 2022, the country’s foreign exchange reserves reached $573.875 billion. In the week ended July 15, its foreign exchange reserves had shrunk by $7.541 billion. If we talk about the week ending July 22, then it was $571.5 billion. During the week ended July 8, foreign exchange reserves decreased by $8.062 billion to $580.252 billion. As of July 1 of the same month, foreign exchange reserves had decreased by $5.008 billion. At that time, its foreign exchange reserves amounted to 588.314 billion dollars.

Currency holdings also fell
The increase in foreign exchange reserves during the week ended July 29 also included the increase in foreign currency holdings. It is an important part of total foreign exchange reserves. Apart from this, due to the increase in gold reserves, there has been an increase in foreign exchange reserves. According to India’s weekly data released by the Reserve Bank of India on Friday, foreign currency holdings (FCA) increased by $1.121 billion to $511.257 billion in the reporting week. In the week ended July 22, it had shrunk by $1.426 billion. Foreign currency assets held in foreign exchange reserves, expressed in United States dollars, include the effects of the appreciation or depreciation of non-United States currencies such as the euro, the pound and the yen.

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Increase in gold reserves
According to the data, the value of gold reserves also increased by $1.140 billion to $39.642 billion during the week under review. During the week under review, Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) also increased by $22 million to $17.985 billion. The country’s foreign exchange reserves kept with the IMF also increased by $31 million to $4.991 billion.

REIT investments increased in August
According to the latest data received from NSDL, investment from foreign portfolio investors (REITs) has increased so far in August. During the week ended August 5, REITs poured Rs 14,175 crore into Indian stock exchanges. Earlier in July last year, foreign portfolio investors placed only Rs 4,989 crore in the Indian market.

Source: navbharattimes.indiatimes.com

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