Thursday, August 17 2017

August 5, 2017

India’s Forex reserves surge to record 392.867 bn USD

FOREX reserves of India have surged by 1,536 billion US Dollars to touch a fresh lifetime high of 392,867 billion dollars in the week ended 28th July 2017.As per RBI release said that foreign currency assets, a major part of the overall reserves rose by 1.609 billion dollars to 368.759 billion dollars. In the previous week, the reserves had increased by 2.27 billion dollars to 391.33 billion dollars.Reserves of gold remained unchanged at 20.35 billion dollars. India’s special drawing rights with the International Monetary Fund went up by 3.9 million dollars to 1.495 billion dollars, while the country’s reserve position declined by 77.2 million dollars to 2.263 billion dollars.