Reserve Bank of India’s Foreign Reserves Approach $600 Billion

Posted on 05/29/2021

The Reserve Bank of India (RBI) reported the country’s foreign exchange reserves rose by US$ 2.865 billion to a record high of US$ 592.894 billion for the week ended May 21, 2021. The central bank says the reserves were boosted by gold and currency assets. For the previous week ended May 14, 2021, foreign reserves had increased by US$ 563 million to touch US$ 590.028 billion. Foreign currency assets are the majority component of the overall foreign reserves.

The previous all time high for the Reserve Bank of India was US$ 590.185 billion for the week ended January 29, 2021.

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