India's FOREX reserves hit 1-yr high, at $600 bn
Edited By WION Video Desk
Published: May 22, 2023, 06:30 IST | Updated: May 22, 2023, 06:30 IST
India's FOREX reserves have been on an upward trajectory, exhibiting a resilient growth pattern. Prior to the week ending May 12, the reserves soared by USD 7.196 billion to USD 595.976 billion. In addition to its foreign currency assets, India’s gold reserves also witnessed a significant increase. During the same week, the gold reserves surged by 38 million to 46.353 billion. This showcases India’s prudent approach to diversifying its FOREX reserves portfolio.
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