For the first time in the history of the country's foreign exchange reserves, the record surpassed $ 60,000 crore ....

For the first time in the history of the country's foreign exchange reserves, it has surpassed $ 60,000 crore.

According to figures released by the Reserve Bank of India:

India's foreign exchange reserves stood at $ 684 billion for the week ended June 4, 2021.

(Approximately Rs. 51,000 crore in Indian currency) and reached $ 60,500 crore.

This is the first time in its history that foreign exchange has crossed the 60,000 crore dollar milestone.

During the week ended May 28, foreign exchange reserves increased by $ 527 billion to $ 59,816 billion.

Foreign exchange reserves (FCAs) rose to an all-time high in the week ended May 28 due to the rise in the value of foreign currency assets (FCAs), which play a major role in overall reserves.

During the week under review, the FCA rose $ 736 billion to $ 59,816 billion.

Other currencies, including the euro, the pound and the yen, are held in foreign exchange reserves.

When these are revalued in dollars, the foreign exchange reserves fluctuate according to the fluctuations in the external value.

Gold reserves fell $ 50 billion to $ 3,760 billion during the week under review.

Similarly, the Special Exchange License (SDO) in the International Monetary Fund fell by $ 10 million to $ 151 billion, while the country's reserve fund fell by $ 1.6 billion to $ 500 billion, according to Reserve Bank data.

The country's foreign exchange reserves are on the verge of crossing $ 60,000 billion in last week's monetary policy announcement.

It is noteworthy that the Governor of the Reserve Bank, Shaktikantha Das, said that this gives great hope to tackle the challenges that arise internationally.

Madan Sapnavis, chief economist at Core Rating, said:

This will help strengthen the country's foreign exchange reserves. He said the existing stock of soybeans is sufficient to import into our country for 15-18 months.