Know about the foreign exchange reserves
Saturday - December 28, 2019 2:24 pm ,
Category : WTN SPECIAL
India's foreign exchange reserve reaches record level
Foreign currency reserve seems the 'mirror' of any country's economic situation
DEC 28 (WTN) - Amidst the global economic slowdown and all kinds of economic challenges and obstacles at the domestic level, there is happy news on the foreign exchange reserves front for the Modi government. For your information, let us know that the country's foreign exchange reserves have reached a new all-time high of $ 454.948 billion, an increase of $ 456 million in the week ended December 20, 2019. For your information, let us know that it had increased by $ 1.070 billion last weekend to reach $ 454.492 billion.
According to the Reserve Bank of India, foreign currency assets increased by $ 311 million to $ 422.732 billion in the week under review. During the same week, the gold reserves with the Reserve Bank increased by $ 164 million to $ 27.132 billion. However, during this period, the special drawing rights (SDR) held by the IMF (International Monetary Fund), decreased by 1 million dollars to 1.443 billion dollars and the reserve foreign exchange fund held by the IMF decreased by $ 17 million to $ 3.642 billion.
If you have only heard about foreign exchange reserves or have only read about it so for your information, we explain in detail what is the foreign exchange reserves and what is the need of the foreign exchange reserves for any country? In fact, foreign exchange reserves are funds or other assets held by the central bank of any country and, if necessary, that country can pay its liabilities. Let you know that such currencies are issued by the central bank of the country concerned.
At the same time, the amount deposited with the central bank by the government and other financial institutions is also counted in the foreign exchange reserves. These currency reserves are kept in one or more currencies, but mostly the US dollar and to some extent, the euro are included in the foreign currency reserves. For your information, let us know that foreign exchange reserves are also called Forex reserves or FX reserves.
Foreign exchange reserves include only foreign banknotes, foreign bank deposits, foreign treasury bills and short-term and long-term foreign government securities. However, let us know that the gold reserves, SDR (Special Drawing Rights), and the deposits with the International Monetary Fund are also a part of the foreign exchange reserves. Since all these figures are more easily available, it is called the official international repository or international repository.
Explain that foreign exchange reserves are considered as an important part of a country's international investment situation. Usually, when any type of obligation falls on a country's monetary authority; it is included in other categories such as other investments. At the same time, for your information, let us know that in the balance sheet of the central bank, foreign exchange reserves along with domestic loans are considered assets.
Actually, the mirror of the economic situation of any country is the foreign exchange reserves of that country. If the economic condition of a country is good, then exports from that country will continue uninterrupted, which will allow the foreign exchange to that country. At the same time, foreign exchange reserves of that country will continue to increase due to more receipts of foreign currency and imported goods will be easily available to the country concerned due to the excess of foreign exchange reserves. Therefore, the more foreign exchange reserves of any country, the greater the foreign exchange reserves of that country. The more the economic situation is considered to be stronger.
DEC 28 (WTN) - Amidst the global economic slowdown and all kinds of economic challenges and obstacles at the domestic level, there is happy news on the foreign exchange reserves front for the Modi government. For your information, let us know that the country's foreign exchange reserves have reached a new all-time high of $ 454.948 billion, an increase of $ 456 million in the week ended December 20, 2019. For your information, let us know that it had increased by $ 1.070 billion last weekend to reach $ 454.492 billion.
According to the Reserve Bank of India, foreign currency assets increased by $ 311 million to $ 422.732 billion in the week under review. During the same week, the gold reserves with the Reserve Bank increased by $ 164 million to $ 27.132 billion. However, during this period, the special drawing rights (SDR) held by the IMF (International Monetary Fund), decreased by 1 million dollars to 1.443 billion dollars and the reserve foreign exchange fund held by the IMF decreased by $ 17 million to $ 3.642 billion.
If you have only heard about foreign exchange reserves or have only read about it so for your information, we explain in detail what is the foreign exchange reserves and what is the need of the foreign exchange reserves for any country? In fact, foreign exchange reserves are funds or other assets held by the central bank of any country and, if necessary, that country can pay its liabilities. Let you know that such currencies are issued by the central bank of the country concerned.
At the same time, the amount deposited with the central bank by the government and other financial institutions is also counted in the foreign exchange reserves. These currency reserves are kept in one or more currencies, but mostly the US dollar and to some extent, the euro are included in the foreign currency reserves. For your information, let us know that foreign exchange reserves are also called Forex reserves or FX reserves.
Foreign exchange reserves include only foreign banknotes, foreign bank deposits, foreign treasury bills and short-term and long-term foreign government securities. However, let us know that the gold reserves, SDR (Special Drawing Rights), and the deposits with the International Monetary Fund are also a part of the foreign exchange reserves. Since all these figures are more easily available, it is called the official international repository or international repository.
Explain that foreign exchange reserves are considered as an important part of a country's international investment situation. Usually, when any type of obligation falls on a country's monetary authority; it is included in other categories such as other investments. At the same time, for your information, let us know that in the balance sheet of the central bank, foreign exchange reserves along with domestic loans are considered assets.
Actually, the mirror of the economic situation of any country is the foreign exchange reserves of that country. If the economic condition of a country is good, then exports from that country will continue uninterrupted, which will allow the foreign exchange to that country. At the same time, foreign exchange reserves of that country will continue to increase due to more receipts of foreign currency and imported goods will be easily available to the country concerned due to the excess of foreign exchange reserves. Therefore, the more foreign exchange reserves of any country, the greater the foreign exchange reserves of that country. The more the economic situation is considered to be stronger.
