Foreign currency assets tap India's forex reserves, rises to $481.07B - Here's a snippet!

Forex reserves were boosted due to performance of foreign currency assets which stood at $443.31B higher by $1752m from the preceding period.

May 11, 2020 01:05 IST India Infoline News Service

The Reserve Bank of India's (RBI) latest data shows that India's forex reserves rose by $1622 million to $481.07 billion in the week ending May 01, 2020.

The total reserves in Indian rupees declined by Rs53,512cr to Rs36.12 lakh cr in the same week ending.

Forex reserves were boosted due to performance of foreign currency assets which stood at $443.31B higher by $1752m from the preceding period.

On the other hand, gold reserves plunged by $623M to $32.27B in the latest period. Meanwhile, SDR reserves saw a gradual rise by $5M to $1.4B by May 01 end.

As for reserve position in the IMF, it stood at $4.05B up by $489M.

In FY20, the country's forex reserves have surged by a whopping $62.39B. In rupee terms, the reserve grew by Rs7.10 lakh cr. 

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