Categories: Business

foreign exchange reserve surge by $ 4.2 billion to $ 485.3 billion


foreign reserve

new Delhi. The country's foreign exchange reserves increased by $ 4.23 billion to $ 485.31 billion in the week ended May 8. This increase is achieved by increasing foreign exchange assets. The foreign exchange reserves had increased by $ 1.62 billion to $ 481.08 billion in the previous week. The country's foreign exchange reserves had touched an all-time high of $ 487.23 billion on March 6, an increase of $ 5.69 billion. Foreign currency reserves have increased by about $ 62 billion during the year 2019-20.

According to data provided by the Reserve Bank of India, foreign currency assets (which constitute the largest share of foreign exchange) increased by $ 4.233 billion to reach $ 447.548 billion during the week ended May 8, 2020. Gold reserves also rose by $ 13 million to $ 32.291 billion during the week. At the end of March 2020, the Reserve Bank had 653.01 tonnes of gold reserves. Out of this, 360.71 tonnes have been kept abroad. At the same time, India's special drawing rights with the International Monetary Fund (IMF) decreased by $ 3 million to $ 1.423 billion. The country's reserve position in the IMF also declined by $ 8 million to $ 4.051 billion.

This post was published on May 16, 2020 4:12 am

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