Forex reserves soar to record $473 b

Forex reserves soar to record $473 b

India’s foreign exchange reserves rose by $1.701 billion to a lifetime high of $473 billion in the week to February 7 on account of the increase in foreign currency assets, according to RBI data. In the previous week, foreign exchange reserves had risen by $4.607 billion to $471.3 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units such as the euro, pound and yen held in the foreign exchange reserves.

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