How does the country sink with foreign exchange reserves? Foreign Reserve | Indian Economy- Watch Video

Saumya JaiswarPublish Date: 23 Mar, 2023

There is no good news on the Forex Reserve front. India's foreign exchange reserves declined by $2.397 billion during the week ended March 10. Now our foreign exchange reserve has remained at only 560 billion dollars. This is the lowest level in the last three months. Earlier, it had increased by $1.458 billion during the week of March 3. With this, its foreign exchange reserves had reached $562.40 billion. Before that, it had decreased for four consecutive weeks. On the other hand, during the week ending March 10, Pakistan's foreign exchange reserves increased again. This is the 5th consecutive week, that Pakistan's foreign exchange reserves have increased.

Forex reserves at three-month low

According to data released from the Reserve Bank of India, there has been a decrease of $ 2.397 billion in foreign exchange reserves during the week ending March 10, 2023. Now its reserves are reduced to 560 billion dollars. This is the lowest level in three months. In fact, last week there was a fall in the value of rupee against the dollar. So the Reserve Bank had to intervene and dollars were sold in the market.

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