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India’s Forex Reserves Reach Record $381 Billion
June 28, 2017
India’s Forex Reserves increased by about 799 million American Dollars to reach a record high of 380.955 billion USD during the week to June 16. This major growth was reported by RBI and is believed to result from the recently increased foreign currency assets (FCAs).
Surprisingly, last week, the forex reserves had decreased although by merely USD 11.5 million thus moving back to a USD 381.156 mark. At the same time, FCAs reached 358.084 billion, thus making a jump of USD 802.4 million. However, the gold reserves have remained unchanged.
