The period of decline in India’s foreign exchange reserves has started again. According to official data, India’s foreign exchange reserves decreased by $2.397 billion during the week ended March 10. In this way, foreign exchange reserves have now come down to the lowest level in three months.
Only one week relief
There has been a continuous decline in foreign exchange reserves during the recent past. After five consecutive weeks of decline, there was relief news in the week ending March 03. During that week there was a rise in foreign exchange reserves.
However, this respite proved to be short-lived, as the forex reserves fell again the following week to the lowest in three months.
Now this is the forex reserve
According to the official data of the Reserve Bank (RBI Data), the foreign exchange reserves came down to $ 560 billion in the week ended March 10. Earlier, after the week ending March 03, this reserve had increased to $ 562.40 billion.
According to the data, during the week under review, India’s foreign exchange assets decreased by about $ 2.2 billion to $ 494.86 billion. Foreign currency assets (FCA) are shown in dollar terms. In this figure, the effect of fluctuations in the prices of currencies other than the dollar, such as the euro, pound, yen, is included.
Over this BJP leader Subramanian Swamy comments on economic crisis. Swamy claims that ‘economic crisis is inevitable but Prime Minister Narendra Modi’s colleagues are too frightened to tell him.’
“Mark my words: Modi’s political colleagues are too frightened to tell him like it is in the economy. Modi himself is ignorant of economics, so the crisis is inevitable due to Govt being clueless,” said Swamy in a tweet.
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