Categories: Business

The country's foreign exchange reserves increased, reached a record level of $ 490.04 billion

Photo: GOOGLE

Forex reserves soar to record high of USD 490.04 bn

new Delhi. The country's foreign exchange reserves jumped $ 3.005 billion during the week ended May 22, reaching its all-time high of $ 490.044 billion. According to the data released by the RBI on Friday, this rise in the currency reserves due to increase in foreign exchange assets. In the previous week, the reserves had increased by $ 1.726 billion to reach $ 487.04 billion.

The Reserve Bank of India stated in its figures that foreign exchange assets are a major component of the overall reserves, rising $ 3.035 billion to $ 451.706 billion in the reporting period.

Foreign currency assets expressed in dollars also have the effect of fluctuations in non-US currencies in the reserves, such as the euro, pound and yen.

The country's gold reserves declined by $ 127 million to $ 32.779 billion during the period under review.

The country's special drawing rights with the International Monetary Fund (IMF) increased by $ 8 million to $ 1.432 billion during this period. The country's reserves with the IMF also increased by $ 89 million to $ 4.127 billion.

This post was published on May 30, 2020 3:53 am

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