Money & Banking

Forex reserves rise $4.23 billion

Our Bureau Mumbai | Updated on May 15, 2020

The country’s foreign exchange reserves jumped $4.235 billion in the week ended May 8 to $485.313 billion. The reserves increased mainly on the back of the foreign currency assets (FCAs) rising by $4.233 billion. FCAs include investment in securities; deposits with other central banks and the BIS; and deposits with commercial banks overseas. Since March-end 2020, the reserves have grown by $7.506 billion.

Published on May 15, 2020

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