Country This week came to an end this week due to the ongoing rise in foreign exchange reserves. The country’s foreign exchange reserves declined by $ 2.06 billion in the week ended on 2 May. Foreign exchange reserves came to $ 686.06 billion with this decline. The Reserve Bank of India (RBI) gave this information on Friday. Let us tell you that a week before this, India’s foreign exchange reserves increased by $ 1.98 billion to $ 688.13 billion. Whereas, a week ago, the currency reserves had increased by $ 8.31 billion in the week ended on April 18, after which it had increased to $ 686.14 billion.
In September 2024, foreign exchange reserves reached $ 704.89 billion lifetime high
At the end of September 2024, the country’s foreign exchange reserves reached lifetime high of $ 704.89 billion. However, since then, there is a lot of ups and downs in the currency reserves. According to data released by the Reserve Bank of India, a major part of the foreign exchange reserves increased by $ 51.4 million to $ 581.18 billion in the week ended on 2 May. Foreign exchange assets mentioned in terms of dollars include the effects of the decrease of non-American currencies such as euros, pounds and yen placed in foreign exchange reserves.
Decline recorded in India’s gold reserve
Along with this, the value of India’s gold reserves declined by $ 2.54 million to $ 81.82 billion in the week under review. Special drawing rights (SDR) fell by $ 3 million to $ 18.56 billion. According to the central bank data, India’s reserved reserves with the International Monetary Fund (IMF) also declined by $ 30 million to $ 4.51 billion in the week under review.
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