India’s Forex Reserves Surge by $11.4 Billion to Record High of $740.8 Billion
- National
- (Asia/Kolkata)
India’s Forex Reserves Surge by $11.4 Billion to Record High of $740.8 Billion
India’s foreign exchange reserves surged by 11.4 billion US dollars to a record high of 740.8 billion dollars during the week ended 28th of last month.
According to Reserve Bank of India data, foreign currency assets, the largest component of the reserves, increased by 9.3 billion US dollars to 600.6 billion dollars during the week.
Gold reserves also increased by 2.1 billion dollars to 116.4 billion dollars.
Special Drawing Rights, IMF Reserve Position Decline
However, Special Drawing Rights declined by 43 million dollars to 18.8 billion dollars.
The country’s reserve position with the International Monetary Fund also dipped by 11 million dollars to 4.9 billion dollars.
