India's Forex Reserve at new peak reaches near 650 billion dollar shows rbi data

India's foreign exchange reserves are continuously increasing. In the first week of the current financial year, foreign exchange reserves achieved a new peak level and created a new record. Now this reserve is on the threshold of crossing the level of 650 billion dollars for the first time in history.

This much is the foreign exchange reserves

The Reserve Bank released the latest figures of foreign exchange reserves on Friday. This figure is for the week ending April 5. According to the data, after the end of the first week of the current financial year, India's foreign exchange reserves reached $648.56 billion. This is the all-time high level of India's foreign exchange reserves. An increase of $ 2.98 billion was recorded in foreign exchange reserves during the week.

This is how the momentum has continued

There has been a continuous increase in India's foreign exchange reserves for the last few weeks. Earlier, the Reserve Bank had said that after the week ending March 29, 2024, India's foreign exchange reserves reached a new high of $ 645.6 billion. In the last week of the last financial year (2023-24), foreign exchange reserves had increased by $ 2.95 billion. This means that in two weeks the foreign exchange reserves increased by about 6 billion dollars.

India's foreign exchange reserves stood at $625.62 billion on March 1. That means, in a span of about one month, foreign exchange reserves have increased by about 23 billion dollars.

This asset contributes the most

According to the Weekly Statistical Supplement of RBI, foreign currency assets increased by $ 549 million in the week ending April 5. Foreign currency assets contribute the most to the foreign exchange reserves. It has now reached the level of 571.17 billion dollars. In this, the value of various foreign currencies which are held with the Reserve Bank is kept. Its value is directly affected by fluctuations in the exchange rates of various foreign currencies.

Gold reserves increased the most

According to the data, during the week under review, the value of gold kept with the Reserve Bank increased by $ 2.4 billion and this figure reached $ 54.56 billion. Similarly, SDR (Special Drawing Rights) increased by 24 million to reach $18.17 billion. The Reserve Bank's reserves with the International Monetary Fund (IMF) increased by $9 million to $4.67 billion during this period.

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