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Foreign exchange reserves surge by USD 4.2 bn to USD 485.31 bn

Updated: May 16, 2020 11:45 am
India’s foreign exchange reserves jumped by 4.235 million dollars to reach billion 485.313 dollars in the week ended 8th May. A RBI press release informed that foreign currency assets, a major part of the overall reserves rose by 4.233 billion dollars to 447.548 billion dollars. In the previous week, the reserves had increased by 1.622 billion dollars to end at 481.078 billion dollars. Gold reserves rose by 13 million dollars to end at 32.291 billion dollars.

India’s special drawing rights with the International Monetary Fund declined by three million dollars to 1.423 billion dollars, while the country’s reserve position also dipped by eight million dollars to 4.051 billion dollars.

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