Mumbai. The country’s foreign exchange reserves rose by $4.307 billion to a new all-time high of $655.817 billion in the week ended June 7. The Reserve Bank of India gave this information on Friday. In the previous week, the foreign exchange reserves had jumped by $4.837 billion to reach $651.51 billion. Earlier, the highest level of foreign exchange reserves was $648.87 billion on May 10. Foreign exchange reserves have seen a significant increase in the last few weeks.
According to the data of the Reserve Bank, foreign currency assets, which are considered an important part of the currency reserves, increased by $ 3.773 billion to $ 576.337 billion in the week ended June 7. Foreign currency assets mentioned in dollar terms include the effect of fluctuations in non-US currencies like Euro, Pound and Yen kept in the foreign exchange reserves.
The Reserve Bank said that during the week under review, the value of gold reserves increased by $ 481 million to $ 56.982 billion. Special Drawing Rights (SDR) increased by $ 43 million to $ 18.161 billion. The Reserve Bank said that during the week under review, India’s reserve deposit with the International Monetary Fund (IMF) also increased by $ 10 million to $ 4.336 billion.