The Foreign Exchange Reserve of India continues to surge. According to the data released by the Reserve Bank of India, India’s foreign exchange reserve has risen for the third week in a row, adding USD 1.029 billion at USD 406.667 billion in the week to March 22. In the previous week, the reserve has increased USD 3.6 billion to USD 405.6 billion.
In this week, the foreign currency assets — a major component of the overall reserves — increased by USD 1.031 billion to USD 378.805 billion. The foreign currency assets include the effect of appreciation/depreciation of non-US units like the euro, pound and the yen held in the reserves.
Post Your Comments