DelhiDesk India’s foreign exchange reserves have increased for the second consecutive week, surpassing that of Russia and making India the fourth largest country in terms of foreign exchange reserves. India’s foreign exchange reserves rose by $3.6 billion to $599.5 billion during the week ended May 12. The value of India’s gold reserve has also increased. Strong foreign exchange reserves indicate a good economic condition for a country, as it can easily purchase necessary goods for many months. China, Japan, and Switzerland are the top three countries in terms of foreign exchange reserves, respectively.
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Here is the news bullets sorted by DelhiBreakings.com team.
– India’s foreign exchange reserves increased for the second consecutive week
– India’s foreign exchange reserves have exceeded that of Russia, putting India at the fourth position in the world
– The value of India’s gold reserve has also increased
– Foreign currency assets, the largest component of foreign exchange reserves, increased by $3.6 billion to reach $529.6 billion
– The top 5 countries in the world in terms of foreign exchange reserves are China, Japan, Switzerland, India, and Russia
– The special drawing rights (SDRs) declined by $35 million during the reporting week and came down to $18.4 billion
– The reserve fund with the International Monetary Fund (IMF) decreased by $28 million to $5.2 billion during this period
– Strong foreign exchange reserves indicate a good economic condition for a country
– India becomes the fourth largest country in terms of foreign exchange reserves, with $599,529 billion.
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