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The Reserve Bank of India’s (RBI) foreign exchange reserves shot up to an all-time high of $341.38 billion, after a $1.39 billion increase over the week ended March 27, driven by a rise in foreign currency assets, as per RBI data released today.
Foreign currency assets stood at $316.24 billion recording a rise of $1.35 billion during the week.
The foreign currency assets have been rising because the central bank have been mopping up dollar flows attracted by domestic market through state-run banks in a bid to boost reserves.
During the week gold reserves remained unchanged at $19.84 billion. For the week under review, the Special Drawing Rights (SDRs) rose by $26.2 million to $4.00 billion while India’s reserve position with the International Monetary Fund (IMF) was $8.5 million to $1.30 billion.
Foreign currency assets stood at $316.24 billion recording a rise of $1.35 billion during the week.
The foreign currency assets have been rising because the central bank have been mopping up dollar flows attracted by domestic market through state-run banks in a bid to boost reserves.
During the week gold reserves remained unchanged at $19.84 billion. For the week under review, the Special Drawing Rights (SDRs) rose by $26.2 million to $4.00 billion while India’s reserve position with the International Monetary Fund (IMF) was $8.5 million to $1.30 billion.
