Mumbai. The country’s foreign exchange reserves crossed the $ 550 billion mark for the first time in the week ended 09 October, with foreign exchange assets rising by more than $ 5 billion. According to data released by the Reserve Bank, the country’s foreign exchange reserves rose by $ 5.87 billion to $ 551.51 billion for the week ended 09 October. This is the second consecutive week when it has increased. Earlier, in the week ended October 02, it had increased by $ 3.62 billion to $ 545.64 billion.
The central bank reported that in the week ended October 09, the largest component of foreign exchange reserves, foreign currency assets increased by $ 5.74 billion to reach $ 508.78 a bar. Gold reserves also increased by $ 11.3 million to $ 36.60 billion. The International Monetary Fund Pass Reserve Fund increased by $ 13 million to $ 4.64 billion and the Special Drawing Rights increased by $ 4 million to $ 1.48 billion.