According to the latest Reserve Bank of India statistics, India’s foreign exchange reserves climbed $3.074 billion to a new high of $608.081 billion in the week ending June 11.
The increase in reserves in the reporting week ended June 11 was due to an increase in foreign currency assets (FCA), a key component of overall reserves, according to the RBI’s weekly data. According to the report, FCA increased by USD 2.567 billion to USD 563.457 billion.
Foreign currency assets, expressed in dollars, comprise the effect of appreciation or depreciation of non-US units such as the euro, pound, and yen held in foreign exchange reserves. According to the statistics, after falling the previous week, gold reserves increased by USD 496 million to USD 38.101 billion in the reporting week.
According to the statistics, after falling the previous week, gold reserves increased by USD 496 million to USD 38.101 billion in the reporting week.
The International Monetary Fund’s (IMF) special drawing rights (SDRs) fell by USD 1 million to USD 1.512 billion. The country’s reserve position with the IMF grew by USD 11 million in the reporting week to USD 5.011 billion, according to the statistics.
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Hello, my name is Anuj Boruah. I am quite interested in writing about current events in business, finance, and the economy. I work as a newswriter at Reviewminute.