New Delhi. The Reserve Bank of India holds an MPC meeting after every two months. In this meeting, many decisions related to repo rate and inflation are taken by the MPC committee. The MPC meeting started on August 6 this month, the decisions of which were announced by RBI Governor Shaktikanta Das this morning. 

The RBI governor said that this time too the committee has decided to keep the repo rate stable. Apart from this, the country's foreign exchange reserves have also reached its highest level.  

Reserve Bank of India (RBI) Governor Shaktikanta Das today said that the country's foreign exchange reserves reached a record level of $ 675 billion on August 2, 2024. Earlier, the highest level of currency reserves was US $ 670.85 billion on July 19, 2024.

At the same time, on July 26, 2024, the forex reserve was $ 667.38 billion.

Shaktikanta Das said that overall the country's external sector "remains resilient" as evidenced by the improvement in key indicators. In such a situation, there is hope that there is confidence in meeting external finance requirements comfortably.

FPIs remained net buyers

Das said that foreign portfolio investors have become net buyers in the domestic market since June 2024. There has been a net inflow of $9.7 billion during June to August 6, while there was a withdrawal of $4.2 billion in April and May.

Apart from this, gross foreign direct investment (FDI) increased by more than 20 percent in April-May 2024. At the same time, net FDI inflows during this period doubled compared to the same period last year. He said that external commercial borrowings by Indian units decreased, but deposits of non-residents increased in April-May.