The foreign exchange reserves of the country has touched a new record high. This was revealed by a data released by the Reserve bank of India (RBI).
As per the report of RBI, the forex reserve has surged by 1.275 billion US dollars to reach a fresh life-time high of 517.637 billion US dollars in the week ended 17th July, 2020.
Foreign currency asset s, a major part of the overall reserves, increased by 1.245 billion dollars to 476.880 billion dollars. In the previous week, the reserves had swelled by 3.108 billion dollars to end at 516.362 billion dollars.
Gold reserves also went up by 13 million dollars to end at 34.743 billion dollars. India’s special drawing rights with the International Monetary Fund rose by 2 million dollars to reach 1.455 billion dollars, while the country’s reserve position also increased by 15 million dollars to 4.560 billion dollars.
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