India’s forex reserves surge by USD 3.623 billion
India’s foreign exchange reserves have surged by USD 3.623 billion to reach a new all-time high of USD 538.191 billion in the week ended 7th August 2020. Foreign currency assets, a major part of the overall reserves, rose by USD 1.464 billion to USD 492.293 billion.
In the previous week, the reserves had increased by USD 11.938 billion to end at USD 534.568 billion.
Gold reserves went up by USD 2.160 billion to end at USD 39.785 billion. India’s special drawing rights with the International Monetary Fund rose by USD 6 million to reach USD 1.481 billion, while the country’s reserve position, however declined by USD 7 million to USD 4.632 billion.