For the seventh consecutive week, foreign exchange reserves increased to $ 623.2 billion. Loktej Business News
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Mumbai/New Delhi, 06 January (HS). Foreign exchange reserves have increased for the seventh consecutive week. The country’s foreign exchange reserves have increased by $ 2.760 billion to reach $ 623.20 billion in the week ending December 29. Last week, the total foreign exchange reserves of the country had increased by 4.471 billion dollars to 620.441 billion dollars.
According to the data released by the Reserve Bank of India (RBI), the country’s foreign exchange reserves increased by $ 2.760 billion to $ 623.20 billion in the week ending December 29. Foreign exchange reserves have jumped for the seventh consecutive week to the highest level in 22 months.
According to the data, during this period, foreign currency assets, the main component of foreign exchange reserves, increased by $ 1.87 billion to $ 551.61 billion. Similarly, the value of gold reserves jumped by $853 million to reach $48.33 billion. At the same time, Special Drawing Rights (SDR) has also increased by $ 38 million to $ 18.36 billion. However, the country’s currency reserves kept with the International Monetary Fund (IMF) have declined by $2 million to $4.89 billion during this period. It is noteworthy that in October 2021, the country’s foreign exchange reserves had increased to an all-time high of $ 645 billion.
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