Foreign Exchange Reserves: The country’s foreign exchange reserves fell by $1.34 billion to $641.113 billion in the week ended September 10 after reaching a new record level last week. The Reserve Bank of India (RBI) has given this information in its latest data on Friday. Foreign exchange reserves had increased by $ 8.895 billion to a record level of $ 642.453 billion in the week ended September 3.
The weekly data released by the RBI on Friday showed that this shortfall in foreign exchange reserves for the week ended September 10 was mainly due to the decrease in foreign currency assets (FCA), which constitute a significant part of the total reserves. The Reserve Bank said that India’s foreign currency assets (FCA) declined by $ 934 million to $ 578.879 billion in the week under review. Foreign currency assets, denominated in dollars, also include the effect of an increase or decrease in the value of other foreign currencies such as the euro, pound and the EN held in foreign exchange reserves.
There has also been a decline in gold reserve
Apart from this, gold reserves also declined by $ 413 million to $ 37.669 billion in the reporting week. The country’s special drawing rights (SDR) in the IMF increased by $ one million to $ 19.438 billion and the country’s foreign exchange reserves with the IMF increased by $ 5 million to $ 5.127 billion.
Dollar strengthens this week too
On a weekly basis, this is the second consecutive week when the rupee has registered a fall against the dollar. This week the dollar index closed at 93.225 with a gain of 0.69 percent. Meanwhile, gold fell by Rs 1,130 to Rs 45,207 per 10 grams in the national capital on Friday due to the overnight fall in the prices of precious metals in the international market.
Investment in the stock market is increasing continuously
On Friday, the bullish trend continued for the last three days, and the BSES Sensex closed with a fall of 125 points. Although the indices had gone to a record high in the beginning during trading, but in the end the markets came down due to profit-booking of investors in Reliance Industries, Metal and IT stocks. During trading, the Sensex, based on 30 stocks, fluctuated 866 points. In the end, it closed at 59,015.89, down 125.27 points, or 0.21 percent. Similarly, the Nifty of the National Stock Exchange slipped 44.35 points, or 0.25 percent, to close at 17,585.15. During trading, it had gone up to the highest level of 17,792.95 points.
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