If you are troubled by the thought that the selling phase in the stock market before Diwali has bankrupted the common man. It has caused a loss of lakhs of crores, then you will be surprised to know that at present the situation in the world is such that about Rs 90,370 crore has been wiped out from the country's treasury.
There has been a huge decline in the Indian stock market this entire month, while in the last 5 days, an overall decline of more than 616 points has been recorded in the BSE Sensex. On Thursday, the situation was such that the market had wiped out more than Rs 6 lakh crore of common investors in a single day. A similar decline has also been seen in the country's foreign exchange reserves.
According to the latest data of the Reserve Bank of India (RBI), the country's forex reserve decreased by $ 10.75 billion (about Rs 90,370 crore) in the week ending October 11 and now stands at $ 690.43 billion. This is the biggest decline in the country's foreign exchange reserves in recent times. In the last week, the country's foreign exchange reserves had decreased by 3.70 billion dollars and it stood at 701.17 billion dollars.
Apart from the dollar, currencies like yen, euro and pound are also kept in the foreign exchange reserves, only their total calculation is presented in dollars. However, it is a part of the total forex reserve of the country. Apart from this, the country's gold reserve, the country's money kept with the IMF and the special withdrawal limit received from the IMF are also part of the foreign exchange reserves.
RBI says that the value of the amount held by India in the form of foreign currency has decreased by 10.54 billion dollars to 602.10 billion dollars during this period. Apart from this, the value of the country's gold reserve has declined by $98 million to $65.65 billion during this period.
India's Special Drawing Rights (SDR) declined by $86 million to $18.33 billion during this period. At the same time, India's reserve position with the International Monetary Fund (IMF) has decreased by $ 20 million to $ 4.33 billion. India uses this position to maintain its balance of payments.
