Forex reserves hit a record high of 4264 billion 29 jun 2019 0948am ist. Forex reserves are foreign currency assets held by the central banks of countries.
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Forex reserves fall by 2 bn as dollar gains against peers the dollar had climbed to a three month high of 705 against the rupee.
Forex reserves economic times. Indias forex reserves increased by usd 1994 billion to usd 419992 billion for the week. The countrys reserve position with the fund also increased usd 2 million to usd 3336 billion. In the previous reporting week the reserves had surged by usd 4215 billion to usd 42642 billion.
Forex reserve falls by 697 million to 42895 billion the reserves had touched life time high of 430376 billion in the week to july 19. Foreign exchange reserves also called forex reserves or fx reserves is money or other assets held by a central bank or other monetary authority so that it can pay its liabilities if needed such as the currency issued by the central bank as well as the various bank reserves deposited with the central bank by the government and other. Enabling cities as drivers of economic growth the view that cities are the epicentre of economic growth are sup! ported by the fact that with only 50 of the world population c! ities generate more than 80 of the global gdp.
Forex reserves fell through most of the second half of 2018 to a years low of 392 billion in the week to october 26 2018 after the rupee depreciated against dollar to an all time high of 743 on october 8. Forex reserve hits new high of 42767 billion 5 jul 2019 0958pm ist. These assets include foreign marketable securities monetary gold special drawing rights sdrs and reserve position in the imf.
The main purpose of holding foreign exchange reserves is to make international payments and hedge against exchange rate risks. The reserves now stand at 4264 billion up 4 billion from 422 billion.
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