India Forex Reserve: India's foreign exchange reserves tremendous rise leaving Russia behind
India Forex Reserve: India's foreign exchange reserves tremendous rise leaving Russia behind
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New Delhi: India's foreign exchange reserves have exceeded $608 billion. The week ended June 11 has increased by $3.074 billion. India's foreign exchange reserves have since reached a record high of $608.081 billion. With this, India's foreign exchange has exceeded Russia. Now, Switzerland, Japan and China are ahead of India. These three countries have foreign exchange reserves of more than 1,000 billion dollars.

Earlier, foreign exchange reserves had registered an increase of $6.842 billion in the week ended June 4, 2021. After which India's foreign exchange reserves reached $605.008 billion. According to weekly data released by the Reserve Bank of India (RBI) on Friday, the rise in foreign exchange reserves in the week ended June 11 is due to good growth in foreign exchange assets. It is an important part of the total currency reserves.

According to weekly data from RBI, foreign exchange assets have increased by $2.567 billion to $563.457 billion during the critical week. Talking about gold reserves, there has been an increase of $49.6 million. After which the reserves have also gone up to $38.101 billion. Earlier, it had registered a decline. SDR declined by $1 million to $1.512 billion in IMF. On the other hand, the country's reserves with IMF also increased by $11 million to $5.011 billion.

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