foreign exchange reserves is continuously increasing. Let us tell you that the country’s foreign exchange reserves increased by $ 2.56 billion to $ 644.15 billion in the week ending May 10. The Reserve Bank of India gave this information on Friday. In the last week, the country’s foreign exchange reserves had increased by $ 3.67 billion to $ 641.59 billion. Before this, it had declined for three consecutive weeks. The country’s currency reserves had reached a new all-time high of $648.56 billion in the week ending April 5.
Reserve Bank released data
According to Reserve Bank data, foreign currency assets, considered an important part of the currency reserves, increased by $ 1.49 billion to $ 565.65 billion in the week ending May 10. Foreign currency assets denominated in dollar terms include the impact of movements in non-US currencies such as the euro, pound and yen held in foreign exchange reserves.
Increase in gold reserves also
The Reserve Bank said that the value of gold reserves increased by $ 1.07 billion to $ 55.95 billion during the week under review. Special Drawing Rights (SDR) increased by $5 million to $18.06 billion. According to the Reserve Bank, in the week under review, India’s reserve deposits with the International Monetary Fund (IMF) decreased by $ 4 million to $ 4.495 billion.
Latest Business News