India's foreign exchange reserves set a new record of $ 61,001 crore ...

Times of AthibAn Sunday, July 11, 2021 0

India's foreign exchange reserves hit a new record high of $ 61,001 crore for the week ended July 2.

According to figures released by the Reserve Bank of India:

Rs 45.75 lakh crore: India's foreign exchange reserves rose by 101 crore dollars (approximately Rs 7,575 crore in Indian currency) to $ 61,001 crore (Rs 45.75 lakh crore) in the week ended July 2, 2021, setting a new record.

For the week ended June 25, the foreign exchange reserves increased by $ 506 billion to $ 60,899 billion.

Unprecedented inflation: Foreign exchange reserves (FCAs), the major contributor to overall reserves, rose to an all-time high in the week ended July 2.

During the week under review, the FCA was up $ 75 billion to $ 56,698 billion.

Other currencies, including the euro, pound and yen, are held in foreign exchange reserves. Foreign exchange reserves vary according to the fluctuations in external value when these are revalued in dollars.

Gold reserves rise: Gold reserves rose $ 8 billion to $ 3.637 billion for the week ended July 2.

In addition, the Special Exchange License (SDO) in the International Monetary Fund increased by $ 5 billion to $ 155 billion and the country's reserve fund increased by $ 14 billion to $ 510 billion, according to RBI data.