Recent RBI Data Shows An Increase In Forex Reserve

In a recent data declared by the Reserve Bank of India (RBI) it was seen that the Foreign Exchange Reserve or the Forex for India has gone up, as compared to the last month. There was a rise to USD 292.33 billion by an amount of USD 1.26 billion. This increase was measured till the end of the week for February 7th.

The week which ended in January 31st of this year showed that the Forex reserve was on the path of decreasing. The decrease that was noted was to USD 291.07 billion and it was decreased by an amount of USD 1.26 billion.

The growth of USD 265.83 billion by an amount of UDS 1.26 billion is considered to be one of the biggest components for the Forex Reserve. This was in accordance with the weekly statistical supplement foreign currency assets.

RBI said that the modulation in the USD determines the effect of depreciation or appreciation of the other currencies that are in their reserve.

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