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India’s forex reserves rise to 642.49 bln USD as rupee falls

The foreign currency assets stood at 568.386 billion dollars, while the gold reserves amounted to 51.14 billion dollars during the cited week, the data showed.

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This file photo shows a money changer showing the currency notes at a money exchange shop in New Delhi, India. (Xinhua/Partha Sarkar)

 India’s foreign exchange reserves reached an all-time high of 642.49 billion U.S. dollars during the week ended March 15, the country’s central bank has reported.

This was the fourth straight week with an increase in the forex reserves for the South Asian country.

According to the Reserve Bank of India on Friday, the forex reserves rose by nearly 6.4 billion dollars during the week ended March 15.

The foreign currency assets stood at 568.386 billion dollars, while the gold reserves amounted to 51.14 billion dollars during the cited week, the data showed.

Meanwhile, the Indian rupee fell to its lowest level of 83.43 against the U.S. dollar, due to broad weakness in its Asian peers and the aggressive local demand for the U.S. dollar.

Xinhua News Agency

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