India’s Forex Reserves at Record $551.5Bn

  • 2020-10-18 12:00:00
  • Reporter

In the week to October 9, India’s foreign exchange reserves surged by $5.867 billion to hit a record high of $551.505 billion, according to data from the country’s central bank, the Reserve Bank of India. The increase in the foreign reserves was attributed to a rise in foreign currency assets (FCA)-a major component of the overall reserves- which increased to $508.783 billion. 

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