Amid the lockdown and the corona transition, the country's currency reserves increased by $ 16.22 million in the week ended May 1. After this, the country's foreign exchange reserves rose to the figure of 481.078 billion dollars. The reason for the increase in foreign currency assets is being given. It saw a decrease of $ 113 million in foreign exchange reserves last week. That week it stood at $ 479.455 billion. On the other hand, in the week ended March 6, the country's foreign reserves had increased to an all-time high of $ 487.23 billion with an increase of $ 5.69 billion.
For your information, let us tell you that during the financial year 2019-20, there was an increase of about 62 billion dollars in the foreign exchange reserves of the country. According to the latest data released by the Reserve Bank of India (RBI) during the week ending May 1, 2020, foreign currency assets (which constitute the largest share of foreign exchange) increased by $ 1.752 billion to reach $ 443.316 billion. During the week under review, gold reserves fell by $ 62.3 million to $ 32.277 billion.
In addition, the International Monetary Fund (IMF) had India's special drawing rights increased by $ 5 million to $ 1.426 billion. The IMF also recorded an increase of $ 489 million in the country's reserve position and reached $ 4.059 billion.
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