Lifetime high of $ 704.89 billion in September 2024 was currency reserves
India’s foreign exchange reserves have recorded a huge boom. The country’s foreign exchange reserves gained a big gain of $ 4.55 billion to $ 690.62 billion in the week ended on 9 May. Mudra reserves have gained this boom mainly due to the increase in the gold reserve. The Reserve Bank of India (RBI) gave this information on Friday. Let us tell you that earlier, the country’s total foreign exchange reserves fell by $ 2.06 billion to $ 686.06 billion in the week ended on 2 May. A week earlier, the country’s currency reserves increased by $ 1.98 billion to $ 688.13 billion in the week ended on 25 April.
Lifetime high of $ 704.89 billion in September 2024 was currency reserves
In the end of September 2024 last year, India’s foreign exchange reserves reached lifetime high of $ 704.89 billion. According to the Reserve Bank of India data, a major part of foreign exchange reserves also increased by $ 19.6 million to $ 581.37 billion in the week ended on 9 May. Foreign exchange assets mentioned in terms of dollars include the effects of the decrease of non-American currencies such as euros, pounds and yen placed in foreign exchange reserves.
The value of the country’s gold reserve increased a big increase of $ 4.52 billion
Apart from this, the value of India’s gold reserves i.e. Gold Reserve also increased to $ 86.34 billion to $ 86.34 billion. Special Drawing Rights (SDR) declined by $ 2.6 million to $ 18.53 billion. According to the central bank data, India’s reserved reserves also declined by $ 13.4 million to $ 4.37 billion in the International Monetary Fund (IMF) in the week ended on 9 May.
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