Modi government's influence continues - India's foreign reserves at a high of 94 weeks

Central Government: The way India's GDP growth is being estimated. India's foreign reserves are also increasing at the same pace. RBI figures tell the whole story on their own. This is the story of faith in India. This is the story of increasing confidence in India's governance. This is the story of PM Narendra Modi's guarantee which he is seen giving continuously on the international platform. This is the story of PM Narendra Modi's own belief, which he is expressing by saying that by the year 2047, the country will be among the developed nations and will be the third largest economy in the world. Given this trust and confidence, a continuous inflow of foreign money is seen.

If we look at the figures, India's foreign exchange reserves have seen an increase for the 5th consecutive week. The special thing is that the week ending December 15 saw the fourth biggest increase of the year. Due to which India's foreign exchange reserves have reached a high of 94 weeks. According to the latest data of RBI, there has been an increase of more than 9 billion dollars in India's foreign wealth. Six months before this, an increase of 1.25 billion dollars was seen in the month of July. In the current year, the highest increase was in the month of March. Then this figure was close to 13 billion dollars. Let us also tell you how much India's foreign exchange reserves have become at present.

Increase of more than 9 billion dollars

According to RBI data, India's foreign exchange reserves increased by $9.11 billion to $615.97 billion in the week ending December 15. Earlier, in the week ending December 8, foreign exchange reserves had increased by $ 2.82 billion to $ 606.86 billion. Whereas on October 21, 2021, India's foreign exchange reserves had reached $645 billion. At present, to reach this level the reserves need 20 billion dollars of foreign wealth. According to experts, there has been a decline in the dollar index and an increase in the rupee. Also, there has been an increase in dollars coming from abroad. India's foreign exchange reserves may soon touch the 650 billion mark.

Fourth biggest increase of the year

The increase in the week ending December 15 is the fourth largest increase of the year. Earlier, the week ending January 13 had seen an increase of $10.42 billion. Then India's foreign exchange reserves had increased from $561.58 billion to $572 billion. After that, an increase of $12.80 billion was seen on March 17. This was the biggest increase of the current year. Then the forex reserve had increased from $560 billion to $572.80 billion. The third biggest increase was seen in the week ending July 14. Then there was an increase of 12.74 billion dollars in the country's forex reserves and the country's foreign exchange reserves increased from 596.28 billion dollars to 609.02 billion dollars.

Foreign reserves at a high of 94 weeks

Amidst all this, the country's foreign exchange reserves have reached a high of 94 weeks. At present the country's forex reserve has become 615.97 billion dollars. The last time the country's forex reserves were seen at this level was in the week ending March 25, 2022. At that time the country's forex reserve was at $617.58 billion. Since then there was a continuous decline in the forex reserves. The special thing is that on June 3, 2022, India's foreign exchange reserves had gone below 600 billion dollars. After that, on July 14, 2023, i.e. after 13 months, this figure was seen for the first time.

Assets and Gold Reserves

Talking about foreign currency assets, there has been an increase of 8.35 billion dollars in the last week which has increased to 545.05 billion dollars. On the other hand, gold reserves increased by $446 million to $47.58 billion, while SDR increased by $135 million to $18.32 billion. The reserve state in IMF has increased by 181 million dollars to 5.02 billion dollars.