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India's forex reserves rise USD 3.7 billion
The Business Guardian
|May 12, 2024
Post three consecutive weeks of decline, India’s foreign exchange reserves rose again by USD 3.668 billion to USD 641.590 billion in the week that ended on May 3, RBI data showed.
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Prior to the reporting period, the country foreign exchange reserves declined for the third week, after having risen for the seventh straight week to hit an all-time high of USD 648.562 billion.
According to the latest data released by the Reserve Bank of India (RBI), India’s foreign currency assets (FCA), the biggest component of the forex reserves, rose by USD 4.459 billion to USD 564.161 billion.
Gold reserves during the week declined by USD 653 billion to USD 54.880 billion.
This story is from the May 12, 2024 edition of The Business Guardian.
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