The country’s foreign exchange reserves reached an all-time high of $ 513.25 billion during the week ended July 3, with a major increase of $ 6.47 billion. 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 ended 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.
