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India's forex reserves rise USD 1.73 bn to USD 487.04 bn | India's foreign exchange reserves increasing continuously amid lockdown, $ 1.73 billion increased to $ 487.04 billion


India's forex reserves rise USD 1.73 bn to USD 487.04 bn

New Delhi The country's foreign exchange reserves increased by $ 1.73 billion to $ 487.04 billion in the week ended 15 May. This is equivalent to 12 months of imports from the country. According to data released by the Reserve Bank of India, the country's foreign exchange reserves increased by $ 9.2 billion between April 1 and May 15. It stood at $ 485.31 billion for the week ended May 8. For the week ending March 6, it was at an all-time high of $ 487.23 billion.

The main reason for the increase in review period is the increase in foreign exchange assets (FCA). The FCA has a major share in the total foreign exchange reserves. FCA rose $ 1.12 billion to $ 448.67 billion during this period, according to Reserve Bank data. The FCA also includes currencies such as the Euro, Pound and Yen in addition to the US Dollar. During this period, the country's gold reserves rose by $ 61.6 million to $ 32.91 billion.

During the period under review, the special drawing rights received by the country from the International Monetary Fund increased by $ 2 million to $ 1.42 billion. The position of the country's reserves with the IMF decreased by $ 13 million to $ 4.04 billion.

This post was published on May 22, 2020 9:21 pm

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