India's forex reserves rise to record high
Baku, August 28, AZERTAC
India's foreign exchange (forex) reserves increased by 12.422 billion U.S. dollars to a record high of 729.328 billion U.S. dollars during the week ended August 21, Xinhua reported citing the weekly bulletin released by the country's central bank, the Reserve Bank of India (RBI).
The jump in forex reserves was primarily due to an increase in the foreign currency assets of 9.482 billion U.S. dollars to 591.333 billion U.S. dollars during the said week.
According to the RBI's bulletin, India's gold reserves also rose by 2.801 billion U.S. dollars to 114.218 billion U.S. dollars, while special drawing rights increased by 112 million U.S. dollars to 18.852 billion U.S. dollars.
It also showed that India's reserve position in the International Monetary Fund strengthened by 26 million U.S. dollars to 4.925 billion U.S. dollars.
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