Indian Forex Reserve Ascents To Lifetime High
Indicating sound economic growth of the country, the forex reserve and the stock exchanges rallied in the month of May. As per Reserve Bank of India statement on Saturday (27 May), country's forex reserves rose to a lifetime high of $ 379.310 billion for the week which ended on 19 May as against $375.7 billion as reported at the end of the first week of May.
The stock exchange also pumped Rs 24,776 crore into the Indian equities and debt market in the month of May.
The predominant component of total reserves, foreign currency assets (assets that are not valued in home currency) pegged at $355.097 billion increasing by $3.996 billion in the reported week.
The special drawing rights of the country from International Monetary Fund (IMF) increased by $15 million to $1.469 billion along with the country's reserve in IMF which ascended from 25.2 million to $2.305 billion. Gold reserves of the nation remained stable at $20.438 billion.
Source: http://businessworld.in/article/Indian-Forex-Reserve-Ascents-To-Lifetime-High/27-05-2017-119047/
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