New Delhi: The country's foreign exchange reserves have increased by $ 16.22 lakh to $ 481.078 billion in the week ending May 1. The reason for this increase is the increase in foreign currency assets. The foreign exchange reserves had fallen to $ 479.455 billion from $ 113 million last week. Earlier in the week ended March 6, the country's foreign exchange reserves had increased by $ 5.69 billion to an all-time high of $ 487.23 billion.

Explain that the country's foreign exchange reserves have increased by about $ 62 billion during the financial year 2019-20. According to the latest data from the Reserve Bank of India (RBI), during the week ended May 1, 2020, foreign currency assets (which constitute the largest share of foreign exchange) increased by $ 1.752 billion to $ 443.316 billion.

Gold reserves declined by $ 62.3 million to $ 32.277 billion during the week under review. At the same time, India's special drawing rights with the International Monetary Fund (IMF) increased by $ 5 million to $ 1.426 billion. The IMF also increased the country's reserve position by $ 489 million to reach $ 4.059 billion.