India's Forex Reserves Hit Record High At $642.631 Billion

Indias forex reserves rose $140 million during the week ended March 22 to touch its all-time high of $642.631 billion, according to the latest RBI data. This is the fifth consecutive week of a jump in the overall reserves.

For the week ended March 22, the foreign currency assets decreased by $123 million to $568.264 billion. Gold reserves rose $347 million to $51.487 billion during the week. The special drawing rights (SDRs) were down by $57 million to $18.219 billion, the RBI said.

Indias reserve position with the IMF was also down by $27 million to $4.662 billion in the reporting week, the RBI data showed.

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