India's foreign exchange reserves rise USD 4.5 billion to USD 588.78 billion
1 year, 7 months ago

India's foreign exchange reserves rise USD 4.5 billion to USD 588.78 billion

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Business news : India's foreign exchange reserves rose by USD 4.532 billion to USD 588.780 billion on a weekly basis as of April 28, according to the Reserve Bank of India's data. During the prior week ended on April 21, the foreign exchange reserves fell by USD 2.16 billion to USD 584.24 billion. Coming back to RBI's latest data, India's foreign currency assets, the biggest component of the forex reserves, rose by USD 4.996 billion to USD 519.485 billion. In October 2021, the country's foreign exchange reserves touched an all-time high of about USD 645 billion.Much of the decline can be attributed to RBI's recent intervention and a rise in the cost of imported goods.

History of this topic

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