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new DelhiOne hour ago
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Forex reserves of the country have increased by $ 124.522 billion in one year
- Foreign currency assets increased by $ 5.526 billion to reach $ 530.268 billion
- Forex reserves crossed $ 500 billion in the week ending 5 June 2020 for the first time
The country’s forex reserve has again reached a new record high. According to the data released by the Reserve Bank of India (RBI) on Friday, it jumped $ 4.277 billion to reach $ 572.771 billion in the week ended November 13. Earlier in the week ended 6 November, it jumped by $ 7.779 billion to a record level of $ 568.494 billion. According to the RBI data, for the first time in the week ending June 5, 2020, Forex reserves crossed $ 500 billion.
Foreign currency assets (foreign currency assets) have also recorded a huge jump. Foreign currency assets (FCA) increased by $ 5.526 billion to reach $ 530.268 billion. FCA is denominated in dollars, but it also has the effect of fluctuations in the value of non-dollar currency assets such as euro, pound and yen in foreign currency assets.
Gold reserve value decreased by $ 1.233 billion
The value of gold reserves declined by $ 1.233 billion to $ 36.354 billion during this period. The country’s Special Drawing Rights (SDR) in the International Monetary Fund (IMF) remained unchanged at $ 1.488 billion. The country’s reserve position in the IMF declined by $ 15 million to $ 4.661 billion.
Forex reserves have increased by $ 94.964 billion since March 31
According to RBI data, the country’s forex reserves have increased by $ 124.522 billion in the last one year. Similarly, Forex reserves have increased by $ 94.964 billion as on 31 March 2020. Foreign currency assets have also increased by $ 113.796 billion in the last one year and $ 88.055 billion since March 31, 2020.