Forex Reserve of India hits $ 642.63 Billion and Gold Reserve ......

The Foreign Exchange Reserve of India — The World's Fourth Largest Reserve after China, Japan and Switzerland. Reached all time high of $ 642.63 Billion and Gold Reserve reached $ 51.48 Billion.

Currently, RBI's weekly statistical supplement has released its data, which has compensated for the downward trend on 8 September 2023.

How much Forex Reserve ? 

India's foreign reserves have increased to 642.63 billion dollars for the fifth consecutive week, Which was $ 593.89 Billion on 8 September 2023. . The value increased by $ 139 million during the Calculating Week. Earlier on September 8, 2021, the foreign exchange reserve had touched the highest level in history with an Reserve of $ 642.45 Billion.

Gold Reserve : as an valuables investment 

Gold reserves — one of the major Component of Forex Reserve, rise by $347 million to hit $51.48 billion. And Indian Foreign Currency (IFC), has increased by 123 million dolla pawrs and reached $ 568.26 Billion, as shown in the Statistical Data released by Reserve Bank Of India.

Before the week ending March 22, the Foreign Exchange kitty increased to $ 639 Billion, before this there was a huge increase of $ 58 Billion in the Kitty Reserve against 2023, before this there was a huge decline of $ 71 Billion.

Anil Kumar on INR 

Head of treasury and executive director of Finrex Treasury Advisors LLP, Anil Kumar Bhansali Said on the increased depreciation of Indian Currency, “The rupee is expected to remain range bound to weak with market watching RBI support at 83.40. The range for next week is expected to be between 83.25-83.50. Exporters are expected to sell near term at these levels while need importers to buy dips to hedge their respective positions."

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