A data released by the Reserve Bank showed that the country’s foreign exchange reserves increased by USD 2.599 billion in the week to reclaim the USD 400 billion mark. the forex reserves stood at USD 401.776 billion in the reporting week.
In the previous week, the reserves had risen by USD 944.7 million to USD 399.217 billion. In the reporting week, swelled by USD 2.061 billion to USD 374.060 billion.
Expressed in US dollars, foreign currency assets include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and yen held in the nation’s reserves.
The reserves had touched a lifetime high of USD 426.028 billion in the week to April 13, 2018. Since then, the forex kitty has been on a slide and is now down by over USD 25 billion.
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