India’s foreign exchange reserves crossed the crucial $600 billion mark in the week ended May 27, within a month of falling below this level.
The reserves were up $3.854 billion in the reporting week to stand at $601.363 billion as on May 27.
India’s forex reserves had gone past the $600-billion mark for the first time in the week ended June 4, 2021. In the subsequent weeks, the reserves soared to touch a peak of $642 billion on October 29, 2021.
In the reporting week, all four components of the reserves rose -- foreign currency assets (up by $3.61 billion), gold ($94 million), Special Drawing Rights ($132 million) and Reserve Position in the IMF ($18 million).
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.