Categories: Business

Foreign exchange reserves reach record high of $ 522.63 billion, $ 4.99 billion increase in week

Forex kitty swells nearly 5 billion dollar to fresh high of 522.63 billion dollar

new Delhi. The country's foreign exchange reserves rose by $ 4.99 billion during the week ended July 24, reaching a record all-time high of $ 522.63 billion. This information was given in the latest data of the Reserve Bank of India on Friday. In the previous week, the country's foreign exchange reserves had increased by $ 1.275 billion to $ 517.637 billion.

For the first time in the week ending June 5, the country's foreign exchange reserves had gone above the $ 500 billion level. At the time, it was a strong increase of $ 8.223 billion to $ 501.703 billion. The reason for the increase in the country's foreign exchange reserves is the increase in foreign currency assets (FCA) in the week ending July 24, which form an important part of the total reserves.

According to Reserve Bank data, foreign currency assets grew by $ 3.60 billion to $ 480.48 billion in the week under review. According to the Reserve Bank, gold reserves rose by $ 1.357 billion to $ 36.10 billion in the week under review.

Reserve Bank data showed that the special drawing rights in the International Monetary Fund increased by $ 9 million to $ 1.464 billion in the week under review, while the country's reserve reserves in the IMF increased by $ 25 million to $ 4.585 billion.

This post was published on August 1, 2020 8:59 am

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