The apex bank in the country, Reserve Bank of India (RBI) has informed that the foreign exchange reserve of the country has surged up. As per the data released by the RBI the Forex reserve of the country has rised by 1.622 million dollars to reach 481.078 billion dollars in the week ended 1st May.
The foreign currency assets, a major part of the overall reserves rose by 1.752 billion dollars to 479.455 billion dollars.
In the previous week, the reserves had declined by 113 million dollars to end at 479.455 billion dollars. Gold reserves depleted by 623 million dollars to end at 32.277 billion dollars. India’s special drawing rights with the International Monetary Fund went up by 5 million dollars to 1.426 billion dollars, while the country’s reserve position also increased by 489 million dollars to 4.059 billion dollars.
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