India’s forex reserves had crossed the $400-billion mark for the first time in the week to 8 September 2017, but has since been fluctuating. Photo: ReutersMumbai: India’s forex reserves rose by $503.6 million to touch a record high of $424.864 billion in the week to 6 April, aided by increase in foreign currency assets, the Reserve Bank of India (RBI) said on Friday. In the previous week, the foreign exchange reserves had surged by $1.828 billion to $424.366 billion. In the reporting week, the foreign currency assets, a major component of the overall forex reserves, rose by $657.7 million to $399.776 billion. After remaining stable for past few weeks, gold reserves decreased by $130.7 million to $21.484 billion in the reporting week, RBI said.

Source: Mint April 13, 2018 16:07 UTC