India’s foreign exchange reserves hit a new high
DSIJ Intelligence / 12 Aug 2017
According to data released by the Reserve Bank of India (RBI), the foreign exchange reserves of the country touched a new lifetime high of USD 393.448 billion after rising by USD 581.1 million in the week up to August 4.
According to data released by the Reserve Bank of India (RBI), the foreign exchange reserves of the country touched a new lifetime high of USD 393.448 billion after rising by USD 581.1 million in the week up to August 4. This, as per the RBI, was due to increase in foreign currency assets (FCAs).
During the earlier week, the reserves had escalated by USD 1.536 billion to USD 392.867 billion while the FCAs went up by USD 964.4 million to USD 369.723 billion. The gold reserves dipped by USD 405.7 million to USD 19.943 billion after remaining stable over the last few weeks. The International Monetary Fund (IMF) increased by USD 8.9 million to USD 1.504 billion and India’s reserve position with the IMF went up by USD 13.5 million to USD 2.277 billion.
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