<p>Mumbai: India's foreign exchange reserves have jumped to an all-time high of $651.5 billion as of May 31, <a href="https://www.deccanherald.com/tags/rbi">Reserve Bank of India (RBI)</a> Governor Shaktikanta Das said on Friday.</p><p>This means the overall kitty has increased by $4.83 billion since the last reported number of $646.673 billion on May 24 this year.</p><p>"Touching a new milestone, India's foreign exchange reserves reached a historical high of $651.5 billion as on May 31," Das said in his statement while announcing the <a href="https://www.deccanherald.com/business/economy/rbi-mpc-meeting-live-updates-shaktikanta-das-monetary-policy-indian-economy-news-3056470">bimonthly policy review</a>.</p>.RBI ups GDP growth projection to 7.2%; repo rate remains unchanged.<p>The previous all-time high for the reserves, considered among the key factors representing the overall strength of the economy to withstand any external sector disturbances, stood at $648.7 billion as on May 17.</p><p>Das said that the country's external sector remains resilient.</p><p>Pointing to improvements in the current account deficit, external debt to GDP ratio and net international investment position, he said the key external vulnerability indicators continue to improve.</p>.Voices for interest rate cut within RBI's rate-setting panel growing.<p>"Overall, we remain confident of meeting our external financing requirements comfortably," he said.</p><p>The current account deficit for FY25 is likely to remain well within its sustainable level, the governor said, pointing to help coming from remittances, services exports and a lower trade deficit.</p>
<p>Mumbai: India's foreign exchange reserves have jumped to an all-time high of $651.5 billion as of May 31, <a href="https://www.deccanherald.com/tags/rbi">Reserve Bank of India (RBI)</a> Governor Shaktikanta Das said on Friday.</p><p>This means the overall kitty has increased by $4.83 billion since the last reported number of $646.673 billion on May 24 this year.</p><p>"Touching a new milestone, India's foreign exchange reserves reached a historical high of $651.5 billion as on May 31," Das said in his statement while announcing the <a href="https://www.deccanherald.com/business/economy/rbi-mpc-meeting-live-updates-shaktikanta-das-monetary-policy-indian-economy-news-3056470">bimonthly policy review</a>.</p>.RBI ups GDP growth projection to 7.2%; repo rate remains unchanged.<p>The previous all-time high for the reserves, considered among the key factors representing the overall strength of the economy to withstand any external sector disturbances, stood at $648.7 billion as on May 17.</p><p>Das said that the country's external sector remains resilient.</p><p>Pointing to improvements in the current account deficit, external debt to GDP ratio and net international investment position, he said the key external vulnerability indicators continue to improve.</p>.Voices for interest rate cut within RBI's rate-setting panel growing.<p>"Overall, we remain confident of meeting our external financing requirements comfortably," he said.</p><p>The current account deficit for FY25 is likely to remain well within its sustainable level, the governor said, pointing to help coming from remittances, services exports and a lower trade deficit.</p>