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India’s forex reserves reach 412 billion US dollar

Reserve Bank of India, today has informed that the Country’s forex reserve rose to 412 billion US dollar. A data relesed by the apex bank made it clear that in the last week, the foreign exchange reserves of the country swell by a healthy USD 5.237 billion to USD 411.905 billion in the week to March 29. In the previous week, the reserves had increased by USD 1.029 billion to USD 406.667 billion.

Foreign currency assets, a major component of the overall reserves, swelled by USD 5.248 billion to USD 384.053 billion in the reporting week.

Expressed in dollars, foreign currency assets include the effect of appreciation/depreciation of non-US currencies like the euro, pound and the yen held in the reserves.

The forex reserves had touched a life-time high of USD 426.028 billion in the week to April 13, 2018. Since then, it has been on a slide and is now down by around USD 14 billion.

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