Foreign exchange reserves surge by $2.34 billion to $596 billion: RBI data

The country’s foreign exchange reserves increased by $2.34 billion to $596 billion in the week ended June 16, latest data released by the Reserve Bank of India showed.  

With the exception of gold reserves, all other segments rose on the weekly basis. The reserve rose mainly on account of a rise in the RBI’s foreign currency assets, which rose by 2.57 billion to $527.65 billion in the previous week.

There was an increase of $62 million in SDRs, reaching a total of $18.24 billion. Additionally, the reserve position in the International Monetary Fund (IMF) experienced growth, with an additional $34 million, bringing the total to $5.149 billion.

Total reserves rose close to $34 billion in 2023.