Forex reserves surge by 4.672 billion to 590.783 billion US Dollars, says RBI

Reserve Bank of India said yesterday that India’s Forex reserves surged by 4.672 billion US Dollars to 590.783 billion US Dollars for the week ended the 3rd of November. This increase took it to a seven-week high mark. Apex Bank said that foreign currency assets rose by 4.392 billion US Dollars. The overall value of the gold held was up by 200 million at 46.123 billion US Dollars. The country’s special drawing rights increased by 64 million to 17.975 billion US Dollars while its reserve position with the International Monetary Fund rose by 16 million to 4.789 billion US Dollars.

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