Big jump of $ 4.55 billion in India’s foreign exchange reserves

There has been a strong jump in India’s foreign exchange reserves. In the week ended May 9, the country’s foreign exchange reserves reached $ 690.62 billion with a huge increase of $ 4.55 billion. This increase in currency reserves has come mainly due to the increase in gold reserves. The Reserve Bank of India (RBI) gave this information on Friday. Let us tell you that earlier, in the week ended May 2, the country’s total foreign exchange reserves had declined by $ 2.06 billion to $ 686.06 billion. A week before that, in the week ended April 25, the country’s currency reserves had increased by $ 1.98 billion to $ 688.13 billion.

The currency reserves were at a lifetime high of $ 704.89 billion in September 2024

At the end of September 2024 last year, India’s foreign exchange reserves had reached a lifetime high of $ 704.89 billion. According to the data of the Reserve Bank of India, foreign currency assets, a major part of the foreign exchange reserves, also increased by $ 196 million to $ 581.37 billion in the week ended May 9. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies like Euro, Pound and Yen kept in the foreign exchange reserves.

Big increase of $ 4.52 billion in the value of the country’s gold reserve

Apart from this, during this period, the value of India’s gold reserve also increased by a huge $ 4.52 billion to $ 86.34 billion. Special Drawing Rights (SDR) fell by $ 26 million to $ 18.53 billion. According to the data of the central bank, India’s reserve with the International Monetary Fund (IMF) also fell by $ 134 million to $ 4.37 billion in the week ended May 9.