country’s foreign exchange reserves It has increased again. After a decline of last three weeks, the country’s foreign exchange reserves increased by $ 3.67 billion to $ 641.59 billion in the week ending May 3. The Reserve Bank of India gave this information on Friday. Earlier, in the week ending April 26, the country’s foreign exchange reserves had declined by $ 2.41 billion to $ 637.92 billion. After several weeks of rally, it had reached a new all-time high of $ 648.56 billion in the week ending April 5.
Due to this reason Forex reserve increased
According to Reserve Bank data, foreign currency assets, considered an important part of the currency reserves, increased by $ 4.46 billion to $ 564.16 billion in the week ending May 3. 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. The Reserve Bank said that during the week under review, the value of gold reserves declined by $ 653 million to $ 54.88 billion.
Decline in deposits with IMF
The Reserve Bank said that Special Drawing Rights (SDR) increased by $ 2 million to $ 18.05 billion. According to the Reserve Bank, India’s reserve deposits with the International Monetary Fund (IMF) declined by $140 million to $4.49 billion in the week under review.
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