The data released by the Reserve Bank of India (RBI) has revealed that the country’s foreign exchange reserves rised to all-time high. The Forex reserve has rised by US dollar 3.43 billion to reach at US dollar 493.48 billion for the week ended May 29.
The reserves had risen by US dollar 3 billion to an all-time high of US dollar 490.044 billion in the previous week.
During the week ended May 29, foreign currency assets, a major component of the overall reserves, increased by US dollar 3.50 billion to US dollar 455.21 billion.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Total value of the gold reserves continued to decline and were at 32.682 billion, lower by US dollar 97 million as compared with the previous week.
The special drawing rights with the International Monetary Fund (IMF) were unchanged at US dollar 1.43 billion, while India’s reserve position with the IMF also rose by US dollar 31 million to US dollar 4.16 billion during the reporting week.
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