According to the latest data from the Reserve Bank of India, India’s foreign exchange reserves stood at $ 571.56 billion this week. India (RBI). Forex reserves decreased by $1.152 billion in the week ended July 22.
The Reserve Bank of India’s weekly statistics supplement shows that the sole reason for the fall in forex reserves during the week ended July 22 was a reduction in forex assets. All other segments of forex reserves saw gains in the week.
India’s foreign exchange holdings, the largest component of foreign exchange reserves, declined by $1.426 billion for the week ended July 22. Forex assets fell by $6.527 billion in the week ended July 15, compared to a fall of $6.656 billion a week ago.
Non-dollar currencies such as the euro, the British pound sterling and the Japanese yen are included in foreign currency assets when expressed in terms of the US dollar.
Other parts of the currency reserves showed an increase. Its value is currently $38.502 billion, up from $38.502 billion for the week ended July 22. (RBI) data revealed an increase of $106 million in the value of Indian SDRs held by the International Monetary Fund (IMF) during the week.
According to the RBI weekly statistical supplement, India’s reserve position with the International Monetary Fund (IMF) increased by $23 million to $4.96 billion during the week ended July 22.
On inflation, Rajan said the increase in policy rates by the Reserve
This will help in easing inflationary pressures.
Inflation is a problem around the world right now. In order to reduce inflation, the Reserve Bank of India (RBI) has decided to increase the interest rates. Food and fuel prices have risen recently. As we can see, food prices are declining across the world, and this trend is expected to continue in India, he said.