It is noteworthy that in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion.
The total reserves had increased by USD 7.196 billion to USD 595.976 billion in the previous week under review.
Rising for the second consecutive week, India’s foreign exchange kitty grew by USD 3.553 billion to USD 599.529 billion for the week ended May 12, the RBI said on Friday.
The total reserves had increased by USD 7.196 billion to USD 595.976 billion in the previous week under review.
It is noteworthy that in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion. Reserves are declining as the central bank deploys kitty to protect the rupee amid pressure mainly due to global growth.
For the week ended May 12, foreign currency assets, a major component of reserves, increased by nearly USD 3.577 billion to USD 529.598 billion, according to the weekly statistical supplement released by the RBI on Friday.
Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
RBI said that gold reserves increased by $ 38 million to $ 46.353 billion.
The apex bank said the special drawing rights (SDRs) declined by $35 million to $18.413 billion.
The country’s reserve position with the IMF had declined by USD 28 million to USD 5.164 billion in the week under review, data from the apex bank showed.
(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI,
