India’s foreign exchange reserve reaches new all-time high

foreign exchange

News Delhi: India’s foreign exchange reserves surged by 3.43 billion dollars to reach a fresh all-time high of 493.48 billion dollars in the week ended 29th of last month. A Reserve Bank of India press release has informed that foreign currency assets, a major part of the overall reserves rose by 3.50 billion dollars to 455.21 billion dollars. 
In the previous week, the reserves had increased by three billion dollars to end at 490.044 billion dollars. The total value of the gold reserves, however, continued to decline. Gold reserves went down by 97 million dollars to end at 32.682 billion dollars. India’s special drawing rights with the International Monetary Fund remained unchanged at 1.43 billion dollars, while the country’s reserve position rose by 31 million dollars to 4.16 billion dollars