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Forex reserves soar by USD 3 billion to USD 417.789 billion

Forex reserves soar by USD 3 billion to USD 417.789 billion

New Delhi: Foreign exchange reserves saw a USD three billion surge to USD 417.789 billion in the week to January 26, the Reserve Bank of India (RBI) stated.

The present rise, the RBI claimed, was attributable to the rise in foreign currency assets.

Over the past four-odd weeks, foreign exchange reserves have been rallying continuously, following a temporary dip in October.

Earlier, foreign exchange reserves registered a new high of USD 414.784 billion in the week to January 19.

Meanwhile, the RBI said gold reserves remained unchanged at 20.421 billion dollars.

PTI