India’s foreign exchange reserves increased by $ 7.196 billion to $ 595.976 billion.
Mumbai:
India’s foreign exchange reserves increased by $7.196 billion to $595.976 billion in the week ended May 5, the Reserve Bank of India said on Friday.
The total reserves declined by USD 4.532 billion to USD 588.78 billion in the previous week under review.
In October 2021, the country’s foreign exchange reserves were to reach an all-time high of USD 645 billion. Reserves are declining as the central bank deploys kitty to protect the rupee amid pressure mainly due to global growth.
According to the latest weekly statistical supplement released by RBI, during the week ended May 5, foreign currency assets, a major component of reserves, increased by about USD 6.536 billion to USD 526.021 billion.
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 the gold reserves increased by $ 659 million to $ 46.315 billion.
The apex bank said special drawing rights (SDRs) declined by $19 million to $18.447 billion.
The country’s reserve position with the International Monetary Fund (IMF) increased by USD 20 million to USD 5.192 billion in the week under review, showed RBI data.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)