New Delhi. There is shocking news on the economic front. After increasing for two consecutive weeks, there has been a decline in foreign exchange reserves. The country’s foreign exchange reserves declined by $6.052 billion to $593.477 billion in the week ended May 19. The Reserve Bank of India (RBI) has given this information.
According to the data released by RBI on Friday, the foreign exchange reserves decreased by $ 6.052 billion to $ 593.47 billion in the week ended May 19. Due to this, the country’s total foreign exchange reserves jumped by $ 3.5 billion to about $ 600 billion last week. During this period, foreign currency assets, which contribute significantly to the foreign exchange reserves, also decreased by $ 4.654 billion to $ 524.945 billion.
According to the data, the value of gold reserves decreased by $ 1.227 billion to $ 45.127 billion in the week ended May 19. According to RBI, the Special Drawing Right (SDR) has also come down by $ 137 million to $ 18.27 billion. Apart from this, the country’s currency reserves kept with the International Monetary Fund (IMF) decreased by $ 35 million to $ 5.13 billion. Significantly, in October 2021, the country’s foreign exchange reserves had reached a record high of $ 645 billion.
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