new Delhi. Corona virus Crude oil cheaper in Coronavirus Era and decline in imports from abroad and decrease in India’s import bill and Indian companies deal with foreign companies for the 5th consecutive week. Has received India’s foreign exchange reserves have crossed $ 520 billion for the first time. According to the information, the increase in foreign exchange reserves is due to increase in foreign asset and gold reserve. Let us also tell you how much India’s foreign exchange reserves have increased.
India’s foreign exchange reserves at record level
India’s foreign exchange reserves have increased for the fifth consecutive week. The country’s reserves of foreign currency increased by $ 5 billion in the week ended July 24. After which India’s foreign exchange reserves have increased to $ 522.63 billion. Foreign exchange reserves have now reached record levels. This is the first time the foreign exchange reserves have reached a level of $ 522 billion. Earlier, in the week ended July 17, it had increased by $ 1.28 billion to $ 517.64 billion.
Increase in asset and gold reserves
According to the Reserve Bank, due to the large increase in foreign currency assets and gold reserves, foreign exchange reserves have increased by about $ 5 billion. First of all, foreign currency assets increased by $ 3.60 billion to $ 480.48 billion during the week ended July 24. In the same period, gold reserves increased by $ 1.36 billion to reach 36.10 billion dollars. In the week under review, the reserves with the International Monetary Fund increased by $ 25 million to $ 4.59 billion and the special drawing rights increased by $ 9 million to $ 1.46 billion.