Forex Reserve
India's forex reserve rises by over $1.7 bn
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $582.037 billion from $580.299 billion reported for the week ended March 5. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
India now has 4th largest forex reserves
India's foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5, the Reserve Bank of India said on Friday, edging out Russia's $580.1 billion pile. The world's largest forex reserves league table is headed by China, followed by Japan and Switzerland.
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