When the reserves were reduced in the past, the opposition made accusations. Now, if the reserves are increasing, they are showing where they will put their faces.
Foreign exchange reserves: Economic experts say that the forex market determines the development index of a country. America still leads the way in such forex market reserves. Sometimes China beats it but in the long run China is never in the front row. The policies in America.. its superiority over the world.. and various reasons make foreign investors look towards America. Even though there are no such positive aspects in the case of China, the manufacturing sector is strong there, so many people invest there. If the foreign exchange reserves are high, investors will have confidence in the country. There is scope for more investments. Above all, jobs will be created.
In the above introduction, we have mentioned only China and America. Foreign exchange reserves have reached a record level in our country as well. Foreign exchange reserves, which have been on the decline for some time now, are now on the rise. Economists consider it a great thing that India's foreign exchange reserves have increased to a record level in the context of international uncertainty and developments such as raising interest rates by the Federal Bank. Foreign Indian currency reserves in India increased as compared to the week ended February 2. Foreign exchange reserves stood at $622.469 billion this week, up $5.736 billion from the week ended February 2. According to the report released by the Reserve Bank every week.. Foreign currency assets constitute the largest share of India's foreign exchange reserves. It has now increased by 5.186 billion dollars to 551.331 billion dollars.
Not only the foreign exchange reserves but also greenback reserves in the country have reached record levels. At present crude oil reserves have increased by 680 million dollars to 48 billion dollars. In the month of October 2021, India's foreign exchange reserves reached a maximum of 645 billion dollars. Foreign exchange reserves have decreased significantly in the year 2022 due to the sharp increase in the cost of imports on India in the context of the situation in the international market. At that time, the price of the rupee fell and the foreign exchange reserves decreased, and the opposition criticized Narendra Modi. In this background, the situation changed once the Reserve Bank of India intervened in the currency market.
With the intervention of the Reserve Bank of India, radical changes are taking place in foreign currency assets. Apart from this, the Center says that there are sufficient forex reserves in the country. As a result, investors are showing interest in investing. The higher the foreign exchange reserves of any country, the more economically strong that country is. The forex reserve plays a very important role in the economic stability of the country. At present, BJP leaders say that the increase in foreign exchange reserves in the country is indicative of the performance of their government. Earlier, when the reserves were reduced, the opposition made accusations. Now, if the reserves are increasing, they are showing where they will put their faces.