Mumbai, June 9 (Language) India’s foreign exchange reserves increased by $ 5.929 billion to $ 595.067 billion in the week ended June 2. The Reserve Bank gave this information on Friday.
The reserves had fallen for two consecutive weeks and declined by US$ 4.34 billion to US$ 589.14 billion in the previous week under review.
It is noteworthy that in October 2021, the country’s foreign exchange reserves had reached an all-time high of $ 645 billion. Reserves are declining as the central bank deploys kitty to protect the rupee amid pressure mainly due to global growth.
For the week ended June 2, foreign currency assets, a major component of reserves, increased by USD 5.27 billion to USD 526.201 billion, according to the weekly statistical supplement released by the RBI on Friday.
Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in foreign exchange reserves.
RBI said that the gold reserves increased by $ 655 million to $ 45.557 billion.
The apex bank said the special drawing rights (SDRs) declined by $6 million to $18.186 billion.
The country’s reserve position with the IMF had increased by USD 10 million to USD 5.123 billion in the week under review, data from the central bank showed. PTI AA Child
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