Saturday, July 11, 2020

India Foreign exchange reserves at an all-time high of $ 513.25 billion



India Foreign exchange reserves at an all-time high of $ 513.25 billion

10 July 2020 , The country's foreign exchange reserves reached an all-time high of $ 513.25 billion, a major increase of $ 6.47 billion during the week ended July 3.
  •  This information has been given in the latest data of the Reserve Bank of India.
 
  • Earlier, the country's foreign exchange reserves had increased by $ 1.27 billion to $ 506.84 billion in the week ended 26 June.

For the first time in the week ending June 5, the country's foreign exchange reserves had gone above the $ 500 billion level. At that time it reached $ 501.70 billion with a strong increase of $ 8.22 billion.

  • The rise in foreign exchange reserves in the week ended July 3 is due to increase in foreign currency assets, a significant part of the total reserves.

  • According to Reserve Bank data, foreign currency assets increased by $ 5.66 billion to $ 473.26 billion in the week under review.

  • According to the Reserve Bank, gold reserves rose by $ 495 million to $ 34.02 billion in the week under review.

  • The Reserve Bank data showed that the special drawing rights in the International Monetary Fund increased by $ 4 million to $ 1.45 billion in the week under review, while the country's reserve currency reserves in the IMF increased by $ 259 million to $ 4.52 billion.

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