new Delhi. Foreign exchange reserves are very important for any country. The amount of foreign exchange reserves any country has, it is easy to import and borrow less. If we talk about India, then Kovid has seen a tremendous increase in India’s foreign exchange reserves in the year. The reason for this is that India reduced imports and invested more and more in India on behalf of foreign investors. According to statistics, India’s foreign exchange reserves have increased by more than $ 125 billion. Let us also tell you what kind of figures are being seen.
Raised more than $ 125 billion
If we talk about last year, India’s foreign exchange reserves stood at $ 454.95 billion in the week ended 27 December 2019, which increased to $ 580.84 billion in the year ended 25 December 2020. That is, India’s foreign exchange reserves increased by $ 125.89 billion in one year. According to experts, the forex reserves are expected to reach $ 600 billion before the budget.
Drop in a week
On the other hand, in the week ended December 25, the foreign exchange reserves have fallen by $ 29 million, due to which the total reserves stood at $ 580.84 billion. Earlier, in the week ended December 18, it had increased by $ 2.56 billion to a record level of $ 581.13 billion.
RBI also released data
Reserve Bank of India According to the data, foreign currency assets, the largest component of foreign exchange reserves, fell by $ 25.3 billion to $ 537.47 billion in the week ended December 25. During this period, gold reserves also fell by $ 308 million to $ 36.71 billion. The reserve with the International Monetary Fund rose by $ 276 million to $ 5.15 billion in the week under review, while the special drawing rights fell by $ 4 million to $ 1.51 billion.