MUMBAI: The country’s foreign exchange reserves jumped by $5.271 billion to get a record high of 598.165 billion in the week ended May 28, RBI data revealed on Friday.
In the last week ended May 21, 2021, that the bookings had risen by about $ 2.865 million to $592.894 billion.
While declaring the 2nd largest financial policy review before on Friday, RBI governor Shaktikanta Das explained the nation’s foreign reserves may have surpassed 600 billion now.
“According to our current expectations, we feel our (forex) reserves have surpassed $600 billion.
) That’s something that gives us a fantastic deal of confidence to take care of the challenges caused by international spillovers, if they occur at a lifetime,” Das said.
The increase in the reservations, for the week ended May 28, has been mostly due to the increase in foreign currency assets (FCAs), a significant part of the total reservations.
FCAs increased by USD 5.01 billion to $553.529 billion from the reporting , per week statistics from the Reserve Bank of India (RBI) revealed.
Expressed in dollar terms, the foreign currency resources include the effect of appreciation or depreciation of foreign exchange components such as the euro, pound and yen held at the currency reserves.
Gold reserves increased by $265 million to $38.106 billion.
The special drawing rights (SDRs) together with the International Monetary Fund (IMF) rose by about $ 2 million to $1.515 billion.
) The nation’s reserve position with the IMF dropped by about $ 5 million to 5.016 billion from the reporting , according to the data.
Forex reserves surge to life high of 598.16bn
