DelhiDesk India’s foreign exchange reserves increased by $4.53 billion to reach $588.78 billion in the week ended April 28, according to the Reserve Bank of India’s weekly data. Foreign currency assets, a key part of currency reserves, increased by $5 billion to $519.485 billion in the same week. However, the value of gold reserves decreased by $494 million to $45.657 billion, and the country’s currency reserves kept in the International Monetary Fund decreased by $4 million to $5.172 billion. India’s foreign exchange reserves reached an all-time high of $645 billion in October 2021 but declined due to the Central Bank’s use of reserves to hedge the rupee amid pressures caused by global events.
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News Bulletin on Forex Reserve: Foreign exchange reserves reached $ 588.78 billion, highest in 10 months
by DelhiBreakings.com
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👉 The country’s foreign exchange reserves increased by $4.53 billion to reach $588.78 billion in the week ended April 28.
👉 Foreign currency assets, a key part of currency reserves, increased by $5 billion to $519.485 billion in the same week.
👉 The value of gold reserves decreased by $494 million to $45.657 billion.
👉 Special Drawing Rights (SDRs) increased by $35 million to $18.466 billion.
👉 Currency reserves kept in the International Monetary Fund (IMF) decreased by $4 million to $5.172 billion.
👉 The country’s total foreign exchange reserves were reduced by $2.164 billion to $584.248 billion in the previous week.
👉 In October 2021, the country’s foreign exchange reserves reached an all-time high of $645 billion.
👉 The decline in reserves was due to the Central Bank’s use of reserves to hedge the rupee amid pressures caused by global events.