Foreign currency kitty reaches a high of $ 5 billion to $ 522.63 billion

Foreign currency kitty reaches a high of $ 5 billion to $ 522.63 billion

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Mumbai, India Foreign exchange reserves RBI data showed on Friday that the week-end climbed $ 4.99 billion on July 24 to touch a high of $ 522.63 billion, helped by currency growth and an increase in gold reserves.
Overall reserves increased by $ 1.275 billion to $ 517.637 billion in the previous review week.
The reserves, seen as a major asset in the country, go through the effects of the COVID-19 pandemic, which first crossed the half-trillion mark in the week ending 5 June.
During the week ended July 24, foreign exchange assets (FCA), a key component of overall reserves, rose by $ 3.60 billion to $ 480.48 billion, according to data from the Reserve Bank.
Expressed in terms of the dollar, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in reserves.
According to central bank data, the value of gold reserves increased from $ 1.357 billion to $ 36.10 billion.
Special drawing rights with International Monetary Fund (IMF) increased from $ 9 million to $ 1.464 billion.
The country’s reserve status with the IMF increased from $ 25 million to $ 4.585 billion during the reporting week.


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