look news india
Mumbai/New Delhi, May 24 (HS). The foreign exchange reserves have increased for the third consecutive week. The country's foreign exchange reserves have increased by $ 4.55 billion to a new all-time high of $ 648.7 billion in the week ended May 17. In the previous week, the foreign exchange reserves had increased by $ 2.56 billion to $ 644.15 billion.
In the data released on Friday, the Reserve Bank of India (RBI) said that in the week ended May 17, foreign currency assets, which are considered an important component of foreign exchange reserves, increased by $ 3.36 billion to $ 569.01 billion. During this period, the reserve value of gold reserves also increased by $ 1.24 billion to $ 57.19 billion.
According to the RBI, during this period, the Special Drawing Rights (SDR) increased by $ 113 million to $ 18.17 billion. However, India's reserve deposit with the International Monetary Fund (IMF) fell by $ 168 million to $ 4.33 billion. Earlier, in the week ended April 5, 2024, the country's foreign exchange reserves had increased to an all-time high of $ 648.56 billion.