India’s foreign exchange reserves reached a new record level
India’s foreign exchange reserves are continuously making new records. The Reserve Bank of India gave another good news related to foreign exchange reserves on Friday. The Reserve Bank of India said that during the week ending on August 30, the country’s foreign exchange reserves increased by $ 2.299 billion. After this latest increase, India’s foreign exchange reserves reached a new record level of $ 683.987 billion. Let us tell you that never before had the country’s foreign exchange reserves reached this level.
Last week, foreign exchange reserves increased by $ 7.023 billion
In the previous week, i.e. during the week ending on August 23, a massive increase of $ 7.023 billion was recorded in the country’s foreign exchange reserves, after which it increased to $ 681.688 billion.
Good increase in foreign exchange assets too
According to the latest data released by the Reserve Bank of India (RBI) on Friday, foreign currency assets, which are considered an important part of the currency reserves, also increased by $ 1.485 billion to $ 599.037 billion in the week ended August 30. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies such as Euro, Pound and Yen held in the foreign exchange reserves.
There was also a jump in the gold reserve and the reserve deposited with the IMF
During the week ending on August 30, the value of India’s gold reserves also increased by $862 million, after which it increased to $61.859 billion. Special Drawing Rights (SDR) increased by $9 million to $18.468 billion. During this period, India’s reserve with the International Monetary Fund (IMF) also increased by $58 million to $4.622 billion.
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