India's forex reserves rise 5.69 bn to 487.23 bn

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Mar 14, 2020

8:59AM

India's forex reserves rise 5.69 bn to 487.23 bn

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India's foreign exchange swelled by 5.69 billion US dollars to reach an all-time high of 487.23 billion dollars in the week ended 6th March 2020. An RBI release said, foreign currency assets, a major part of the overall reserves rose by 5.311 billion dollars to 451.135 billion dollars. In the previous week, the reserves had surged by 5.419 billion dollars to 481.540 billion dollars. Gold reserves also increased by 320 million dollars to 31 billion dollars. India's special drawing rights with the International Monetary Fund went up by 15 million dollars to 1.447 billion dollars, while the country's reserve position also increased by 50 million dollars to 3.656 billion dollars.