Indian forex reserve reaches all-time high with $648.7 billion

Indian forex reserve reaches all-time high with $648.7 billion for the week ending May 17: RBI The Reserve Bank of India in its latest release on Friday stated that the Indian foreign exchange reserve has risen to an all-time high $648.7 billion for the week ending May 17. The latest surge is the third consecutive weekly rise after three consecutive weeks of decline. The latest increase in the forex was marked by an increase of $4.543 billion. In the earlier week that ended on May 10, the foreign exchange rose by $ 2.561 billion to reach $ 644.151 billion. Before three weeks of decline, the reserves had hit an all time high of USD 648.562 billion following multiple weeks of increases till April 5. The latest amount bypasses the past record of forex reserves. As per RBI, in the week that ended on May 10, Foreign Currency Assets (FCA) — a major component of the reserves — increased by $ 3.361 billion to $ 569.009 billion, the data released on Friday showed. [Read more](3D/0/2) If you would prefer not receiving our emails, please [Click Here](3D) Â