India’s Forex Reserves Top $400 billion for the First Time

Posted on:16 Sep 2017 12:23:32
India’s Forex Reserves Top $400 billion for the First Time
16 September 2017 Current Affairs: According to the Reserve Bank of India Data, India’s foreign-exchange reserves rose past $400 billion for the first time ever, strengthening policy makers’ buffers ahead of an expected reduction in US stimulus.

In the previous week, the reserves increased by $3.572 billion to $398.122 billion.

The gold reserves remained unchanged at $20.691 billion.

The special drawing rights with the International Monetary Fund (IMF) increased by $14.2 million to $1.520 billion.

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