Udayavni Special

India’s forex reserves surge to all-time high of USD 493.48 billion amid Covid-19 crisis


PTI, Jun 5, 2020, 8:52 PM IST

Mumbai: The country’s foreign exchange reserves surged USD 3.43 billion to a fresh all-time high of USD 493.48 billion for the week ended May 29 on a handsome accretion of the core currency assets, the Reserve Bank of India (RBI) said on Friday.

The reserves, which are counted as a key strength as the country faces the economic impact of the COVID-19 pandemic, had risen by USD 3 billion to an all-time high of USD 490.044 billion in the previous week.

During the week ended May 29, foreign currency assets, a major component of the overall reserves, increased by USD 3.50 billion to USD 455.21 billion, data from the RBI showed.

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

Total value of the gold reserves continued to decline and were at 32.682 billion, lower by USD 97 million as compared with the previous week, the central bank said.

In the reporting week, the special drawing rights with the International Monetary Fund (IMF) were unchanged at USD 1.43 billion, while India’s reserve position with the IMF also rose by USD 31 million to USD 4.16 billion during the reporting week, the data showed.

Top News

Gurupur: Two children trapped in debris die

Locust menace: FAO asks India to be on high alert for next 4 weeks

Trump blames China’s ”secrecy, cover-up” for spread of COVID-19

‘Tit for tat’: Jail inmates assault officers arrested in TN custodial deaths case

Large projects on to augment India’s border infra: Gadkari

Kanpur effect: Crackdown begins on mafia in Noida, properties, cars worth crores attached

Vikas Dubey’s main aide involved in attack on UP police arrested





Related Articles More

Income Tax dept amends TDS form, makes it more comprehensive

DHFL defaults on NCD repayments of Rs 50 crore; says can’t pay due to moratorium restrictions

JSW Group to boycott USD 400 million worth imports from China: MD Parth Jindal

Reliance launches unlimited free conferencing app JioMeet as competition to Zoom

Uber appoints Flex CEO Revathi Advaithi as independent director



MUST WATCH

Sunday Lockdown: Most of Udyavara, Katapadi shut

Bantwal: Sunday Lockdown strictly followed

Trasi’s Maravanthe beach – Negligence galore

People leaving Bengaluru for fear of COVID-19

COVID-19 patient waits in ambulance for hospitalisation; MLA U T Khader intervenes


Latest Additions

Examining conflict of interest complaint against Kohli: BCCI ethics officer

Locust menace: FAO asks India to be on high alert for next 4 weeks

Gurupur: Two children trapped in debris die

Male, female capuchin monkeys brain structures are different: Study

Over 3,000 beds reserved in Bengaluru hospitals to treat Covid-19 patients

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.