Another good news has come regarding the country’s economy. After the stock market, now a new record has been made on the front of the country’s foreign exchange reserves also. In the week ending May 31, the country’s foreign exchange reserves increased by $ 4.84 billion to an all-time record of $ 651.5 billion. At the same time, last week the country’s foreign exchange reserves had fallen by $ 2.03 billion to $ 646.7 billion.
What do the statistics say?
According to Reserve Bank data, in the week ending May 31, foreign currency assets, the largest supporter of foreign exchange reserves, increased by a tremendous $ 5.1 billion to reach $ 572.6 billion. At the same time, during this period the gold reserve decreased by $ 212 million to $ 56.5 billion. Special Drawing Rights (SDR) decreased by $ 17 million and came down to $ 18.12 billion. However, during the same period, the reserve fund with the IMF increased by $1 million to $4.33 billion.
What did the RBI Governor say?
Reserve Bank of India (RBI) Governor Shaktikanta Das said that this is a new achievement. Earlier on May 17, the all-time highest level of foreign exchange reserves was US $ 648.7 billion. Let us tell you that foreign exchange reserves are considered one of the major factors representing the overall strength of the economy to withstand any external sector disturbance.
stock market record
During trading on Friday, the 30-share BSE Sensex rose 1,720.8 points, or 2.29 per cent, to its all-time high of 76,795.31. Later it closed at a record level of 76,693.36 points, an increase of 1,618.85 points or 2.16 percent from the previous session. Investors’ wealth increased by Rs 28.65 lakh crore till Friday amid the three-day rally in the market.
