RBI's power was seen again, country's foreign exchange reserves reached all-time high

The Reserve Bank of India (RBI) has recently given a huge dividend of Rs 2.1 lakh crore to the government. Now another achievement has been seen and the country's foreign exchange reserves have reached an all-time high. Read this news...

The Reserve Bank of India (RBI) is setting new records one after another. Recently, it has given a huge dividend of Rs 2.1 lakh crore to the government. But this has not affected its health at all, rather the country's foreign exchange reserves with it have reached an all-time high. RBI presented the latest data related to foreign exchange reserves on Friday. It gives information about the country's foreign exchange reserves till the week ending on 17 May.

The country's forex reserve became this much

According to RBI data, the country's foreign exchange reserves (forex reserves) increased by $ 4.55 billion to $ 648.7 billion in the week ended May 17. This is a new all-time high level of forex reserves. This is the third consecutive week when the country's foreign exchange reserves are increasing. In the previous week from May 17, the country's foreign exchange reserves also increased by $ 2.56 billion to $ 644.15 billion. Whereas in the week ended April 5, it reached an all-time high level of $ 648.56 billion.

Know where and how much forex reserve increased

The foreign exchange reserves held by the RBI contain currencies of many countries. But the world trade is done in dollars, so the value of all the currencies present in the foreign exchange reserves is shown in US dollars only. Now according to the new data, in the week ending May 17, the total value of foreign currency included in the forex reserves increased by $3.36 billion and this figure reached $569.01 billion. Apart from the dollar, it also includes currencies like Euro, Pound and Yen.

Not only foreign currencies are included in the calculation of foreign exchange reserves, but gold reserves are also a part of it. The value of the gold reserves that RBI had till May 17 increased by $1.24 billion to $57.19 billion. At the same time, it gets a special withdrawal right from the International Monetary Fund (IMF), which increased from $113 million to $18.17 billion. While the Reserve Bank also keeps a part of its foreign exchange reserves deposited with the IMF. However, its value has decreased a bit and it has come down from $168 million to $4.33 billion.