India’s foreign exchange reserves have surpassed USD 600 billion

India’s foreign exchange reserves have surpassed USD 600 billion

• According to Reserve Bank of India (RBI) data, India’s foreign exchange (forex) reserves increased by USD 3.854 billion to USD 601.363 billion, owing to a substantial growth in the country’s foreign currency assets. After decreasing for ten weeks in a row, the country’s currency reserves have climbed dramatically for the second week in a row. During the week, foreign exchange reserves increased by USD 4.23 billion.
• All components of the forex reserves climbed for the week ending May 27, according to the Reserve Bank of India’s weekly statistical supplement, led by a strong increase in foreign currency assets.
• During the week under review, India’s foreign currency assets, which make up the majority of the country’s FX reserves, increased by USD 3.610 billion to USD 536.988 billion.

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Published date : 08 Jun 2022 06:18PM