According to the Reserve Bank of India (RBI), India’s foreign exchange reserves have continued to increase for the second consecutive week, reaching USD 578.778 billion in the week ending March 24. This indicates a rise of USD 5.978 billion in the week.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
In the previous week, the forex reserves had gone up by USD 12.8 billion, bringing the total forex reserves to USD 572.8 billion. The increase in reserves is mainly attributed to the rise in foreign currency assets, which surged by USD 6.48 billion to USD 536.99 billion in the week ended March 24.
It is worth noting that India’s forex reserves hit a record high of USD 645 billion in October 2021, but have since been declining due to the central bank using the reserves to defend the rupee against pressures caused by global developments.
Gold reserves remained unchanged at USD 39.59 billion. The special drawing rights with the International Monetary Fund (IMF) declined by USD 6 million to USD 1.53 billion, while India’s reserve position with the IMF dipped by USD 47 million to USD 5.71 billion.
You may also read these:
The Union Cabinet has cleared the setting up of a bench of the Jammu and…
World Senior Citizens Day 2026 is observed on 21st August, which shall focus on the…
The island of Ross Island in the Andaman and Nicobar Islands which holds much importance…
In the State of Maharashtra there are many traditional products, agriculture produce, textiles, handicrafts, and…
NH-22 Four-Laning Project in Bihar is sanctioned by the Cabinet Committee on Economic Affairs under…
World Mosquito Day 2026 is celebrated on August 20 to bring attention to the dangers…