Insta
India's Foreign Exchange Reserves Rise By $1.883 Billion To All-Time High Of $611.895 Billion
The Reserve Bank of India
India's foreign exchange reserves have soared to a lifetime high of $611.895 billion, reports Moneycontrol.
According to the RBI's weekly statistical supplement, the foreign exchange reserves surged by $1.883 billion to $611.895 billion in the week ended 9 July.
In the previous week, the reserves had surged by $1.013 billion to $610.012 billion.
The rise in the forex reserves was driven by the rise in foreign currency assets (FCA) that form a major component of the overall reserves. The FCAs surged by $1.297 billion to $568.285 billion in the week ended 9 July.
Expressed in dollar terms, the FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Other than these, gold reserves went up by $584 million to $36.956 billion.
Meanwhile, India's special drawing rights (SDRs) with the International Monetary Fund (IMF) remained unchanged at $1.547 billion.
At the same time, the reserve position of India with the IMF increased by $3 million to $5.107 billion.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.
Latest
