Foreign exchange reserves rise to $582 billion

MUMBAI: The nation’s international change (foreign exchange) kitty rose $233 million to $582.271 billion within the week to March 19, the Reserve Financial institution of India (RBI) mentioned on Friday.
The general reserves had risen $1.74 billion to $582.04 billion within the earlier reporting week.
The rise within the general reserves throughout the reporting week was largely on account of a swelling of the international foreign money belongings, which rose $157 million to $541.18 billion.
Expressed in greenback phrases, the international foreign money belongings embrace the impact of appreciation or depreciation of non-US items just like the euro, pound and yen held within the international change reserves.
Worth of the gold reserves elevated for the second consecutive week, and was up $80 million to $34.63 billion within the reporting week, the RBI knowledge confirmed.
The particular drawing rights (SDRs) with the Worldwide Financial Fund (IMF) fell by $2 million to $1.5 billion within the reporting week.
The nation’s reserve place with the IMF additionally declined by $1 million to $4.96 billion within the reporting week, the information confirmed.

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