Amritha
April 25, 2018, 9:53 pm IST
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Forex reserves soar to a life-time high of $ 424 bn

Forex reserves soar to a life-time high of $ 424 bn

 Apr 07, 2018

India’s foreign exchange reserves recorded an all time high crossing the USD 400 mark and settled at USD 424.361 billion after rising by USD 1.828 billion in the week to March 30, the Reserve Bank said on Friday.

In the previous week, the reserves had increased by USD 1.197 billion to USD 422.532 billion.

Previously, the reserves had touched a record high of USD 421.914 billion on February 9. It had crossed the USD 400-billion mark for the first time in the week to September 8, 2017.

In the reporting week, the foreign currency assets, a major component of the overall reserves, rose by USD 1.823 billion to USD 399.118 billion. Gold reserves remained unchanged at USD 21.614 billion, the central bank said.

The country's reserve position with the IMF also increased by USD 2.8 million to USD 2.083 billion, the apex bank said. (UNI)



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