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Forex Reserves Stood At $601 Billion In May


Forex reserves rose in May 2022

Mumbai:

Country’s overseas alternate reserves elevated by $3.854 billion to $601.363 billion within the week ended May 27, in line with Reserve Bank of India (RBI) information.

In the earlier week, the reserves rose by $4.230 billion to $597.509 billion.

During the reporting week, the rise in foreign exchange reserves was because of a rise within the Foreign Currency Assets (FCA) and the gold reserves, in line with the Weekly Statistical Supplement launched by the RBI on Friday.

FCA elevated by $3.61 billion to $536.988 billion within the week ended May 27.

Expressed in greenback phrases, the overseas foreign money property embody the impact of appreciation or depreciation of non-US models just like the euro, pound and yen held within the overseas alternate reserves.

Gold reserves elevated by $94 million to $40.917 billion.

The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) rose by $132 million to $18.438 billion.

The nation’s reserve place with the IMF additionally elevated by $18 million to $5.019 billion within the reporting week, the information confirmed.



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