India's foreign exchange reserves rebound $6.3 billion ending May 8
NewsBytes | May 16, 2026 1:39 PM CST
India's gold reserves rise $5.6 billion
Gold reserves led the way, shooting up by $5.6 billion, making it the biggest driver of this recovery.
Foreign currency assets also grew by $562 million.
On top of that, India's Special Drawing Rights with the IMF and its reserve position there saw small but steady increases too.
To help stabilize things further, the government has raised import duties on gold, silver, and platinum from May 13.
The goal? To cut down on nonessential imports and keep India's foreign exchange reserves solid in these unpredictable global times.
READ NEXT
-
Secure a Job at NHAI with Your GATE 2026 Score: Recruitment Begins for 60 Deputy Manager Posts—Get the Details Here..
-
Opportunity to Become an IT Officer in the Indian Navy: Vacancies Announced for Multiple Posts—Check Eligibility Details..
-
UGC NET June 2026: Application Deadline Approaching—Apply Immediately and Avoid These Mistakes..
-
CBSE OSM Controversy: CBSE Provides Relief to Students; Fee for Viewing Class 12 Answer Sheets Reduced—Now Just ₹100 Instead of ₹700.
-
IISER Recruitment 2026: Recruitment Announced for Non-Teaching Positions; Applications Open—Check Eligibility and Age Limit..
