Iss mahine, jahan ek aour Foreign Portfolio
Investors shares bech rahe the aur Indian market se apna paisa nikaal rahe the,
wahin dusri aour India ka central bank yaane ki RBI bhi kuch bech raha tha..Ab
aap soch rahe honge RBI aisa kya bech raha tha? Well, RBI bech raha tha India
ka foreign exchange reserves jo ‘Dollars’ mai hote hain. Jee haan, RBI ne iss
financial mahamari mai round about India ka $10 billion-dollar outrightly becha
– ab aap soch rahe honge kyun becha RBI yaane ki India ne $10 billion ka
dollar?
Aayie chaliye dekhte hain, kya thi iskii wajah? Aur kya aisa karna sach mai zaroori tha ?
Russia-Ukraine war ke chalte crude oil ka bhaaw
tezzi se bhadne laga, aur saath hi mai bhadne laga dollar, against the Indian
rupee. Iss war aur global financial mayhem mai rupee ka value gir kar 76-77 ke
range mai aa gaya. The worst till date.!
Sources ke hisaab se RBI ne dollars ko tab bechna
shuru kar dia tha jab rupee crossed the 76-mark and was headed to 77-mark so as
to prevent a further slide in value. March 11 tak RBI ne kuch $9.64 billion
sell kia. Around ussi time pehle ke apeksha foreign reserves decline ho kar
kuch $622.275 billion ho gaye the.
RBI ne ‘yeh’ kyun aur kaise kiya?
Well, March 8 ko RBI ne kuch $5.135 billions banks
ko bech diyein aur yeh bhi keh diya ki at the end of the swap-settlement
period, wo ye dollars buyback kar lenge. Kyunki jab central bank dollars bechti
hai, toh wo system se utna equivalent INR bhi nikalwati hai – which reduces the
rupee liquidity in the system.
Now, Dollar inflow into the market
strengthened the rupee which hit the 77-mark against the dollar on March 8. On
March 17, the rupee spurted by 41 paise to close at 75.80/81 against the US
dollar.
Aur jis hisaab se Russia-Ukraine ke war
ke dauraan, Brent crude ke daam badh rahe the, high crude oil prices would have
led to a steep rise in dollar requirement as well. After all, India imports
nearly 80 per cent of its domestic requirements and higher oil prices mean
higher import bills.
Economists ke hisaab se
agar 10% bhi hike hua oil prices mai, toh current account deficit kuch $15-billion se badh jaata hai.
Foreign Resreves kyun gir rahe hain?
Well, forex
reserves ke main component foreign currency assets (FCA), gold holdings aur
SDRs (special drawing rights) of the International Monetary Fund hain. RBI ne
yeh $10 billion apne Foreign Currency Asset yaane ki FCA kitty se becha — jo
global central banks, foreign banks aur foreign securities mai pade the — the
prime reason was to strengthen the rupee, aur humne dekha bhi ki kaise aisa
karne se rupee stabilize bhi hua.
Unfortunately, the decline in the forex reserves during the
week ended March 11 this year was the sharpest in nearly two years.
According to the RBI data, the value of India's Special
Drawing Rights (SDRs) with the International Monetary Fund (IMF) declined by
$53 million to $18.928 billion and India's reserve position in the IMF dropped
by $7 million to $5.146 billion during the week ended March 11.
The country's forex reserves had slipped by $11.9 billion
during the week ended March 20, 2020. The country's forex reserves had touched
an all-time high of $642.453 billion in the week ended September 3, 2021.
Toh kuch iss wajah se India ne Becha $10 Billion ka
Dollar
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