India’s foreign exchange reserves again at record highThere has been a huge increase of $ 4 billion in this during the last weekIndia’s foreign exchange reserves crossed $ 670 billion
New Delhi. Good news has come once again on the country’s economy front. In fact, the country’s foreign exchange reserves have crossed $670.86 billion, which is an all-time high so far. This information has been given in the data released by the Reserve Bank of India (RBI) on Friday.
The country’s foreign exchange reserves jumped by $4 billion to an all-time high of $670.86 billion in the week ended July 12. Earlier, in the week ended July 12, the total currency reserves had increased by $9.69 billion to a record high of $666.85 billion.
FCA increases by $2.58 billion
According to Reserve Bank data, foreign currency assets (FCA), considered an important part of the currency reserves, increased by $2.58 billion to $588.05 billion in the week ended July 19. It is worth noting that FCA is an important part of the total foreign exchange reserves. FCA expressed in dollars also includes the effects of fluctuations in non-US currencies like Euro, Pound and Yen.
increase in gold reserve
The Reserve Bank said that the value of gold reserves increased by $ 1.33 billion to $ 59.99 billion during the reporting week. RBI said that Special Drawing Rights (SDR) increased by $ 95 million to $ 18.21 billion. India’s reserve position with the International Monetary Fund (IMF) remained unchanged at $ 4.61 billion during the reporting week.
Tags: Share market, Stock market
FIRST PUBLISHED : July 27, 2024, 10:43 IST