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A good news has come amidst the Iran-America war, India's foreign exchange reserves have once again seen an increase. This time India's foreign exchange reserves have increased by 9.06 billion dollars, after which India's foreign exchange reserves have reached 697.12 billion dollars. Let us tell you that this increase in India's foreign exchange reserves has come at a time when two major wars are going on in large parts of the world, between Russia-Ukraine and Iran-America, due to which there is uncertainty all over the world.

Information received from RBI data

According to the data released by the Reserve Bank of India, this increase has given some relief to the market. In recent times, there was pressure on the reserves due to global conditions and currency fluctuations.

Forex assets and gold rise

The largest part of forex reserves is foreign currency assets (FCA), which recorded an increase of about $1.78 billion. This figure is also affected by fluctuations in global currencies like Euro, Pound and Yen. Apart from this, the country's gold reserves have also increased by about $1.78 billion, further strengthening the total reserves.

SDR and IMF positions stable

A slight increase was registered in Special Drawing Rights (SDR) and it reached $18.707 billion. At the same time, India's reserve position with the International Monetary Fund (IMF) remained stable at $4.816 billion.

There was a big decline last week

Earlier, in the week ending March 27, the forex reserves had fallen by $10.28 billion to $688.05 billion. This was the second consecutive weekly decline, due to which there was increased concern in the market.

Impact of West Asia tension

India's forex reserves had reached a record level of $728.49 billion at the end of February, but it declined due to increasing tensions in West Asia. This also affected the Indian rupee.

RBI's role in handling the rupee

RBI is continuously active to reduce the pressure on the rupee. The central bank is trying to keep the situation stable by selling dollars in the market and taking necessary policy steps. Overall, the latest increase has definitely brought some relief to the economy, but in view of the global situation, there remains a need to remain cautious.