New Delhi. There is good news on the economic front. Foreign exchange reserves have increased for the second consecutive week. The country’s foreign exchange reserves rose by $7.196 billion ($7.196 billion) to $595.976 billion ($595.976 billion) in the week ended May 5. Due to this, the foreign exchange reserves had increased by $ 4.532 billion to $ 588.78 billion in the previous week. , The Reserve Bank of India (RBI) gave this information in figures.
According to the data released by the RBI on Friday, the foreign exchange reserves increased by $ 7.196 billion to reach $ 595.976 billion in the week ended May 5. The country’s foreign exchange reserves stood at $588.78 billion last week. During this period, foreign currency assets, which contribute significantly to the foreign exchange reserves, increased by $ 6.536 billion to $ 526.021 billion.
According to the Reserve Bank, the value of gold reserves increased by $ 659 million to $ 46.315 billion during this period. However, special drawing rights (SDRs) declined by $19 million to $18.447 billion. At the same time, the country’s currency reserves kept in the International Monetary Fund (IMF) have increased by $ 20 million to $ 5.192 billion. Significantly, in October 2021, the total foreign exchange reserves had reached an all-time high of $ 645 billion.