Foreign exchange reserves increased by $ 5.98 billion to $ 578.8 billion

Foreign exchange reserves increased by $ 5.98 billion to $ 578.8 billion


Mumbai (Best Hindu News): The country’s foreign exchange reserves increased by $ 5.98 billion in the week ended March 24 for the second consecutive week due to increase in foreign currency assets, gold, special drawing rights (SDRs) and reserves with the International Monetary Fund (IMF). Rising to $ 578.8 billion, compared to $ 572.8 billion in the previous week, an increase of $ 12.8 billion.

According to the weekly data released by the Reserve Bank, foreign currency assets, the largest component of foreign exchange reserves, increased by $ 4.4 billion to $ 509.73 billion in the week ended March 24. Similarly, gold reserves increased by a whopping $1.4 billion during this period, taking it to $45.5 billion.

During the week under review, Special Drawing Rights (SDRs) increased by $201 million to reach $18.42 billion. During this period, the reserve fund with the International Monetary Fund increased by $ 27 million to reach $ 5.15 billion.

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