NEW DELHI (XINHUA) – India’s foreign exchange reserves reached an all-time high of USD642.49 billion 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 USD6.4 billion during the week ended March 15.
The foreign currency assets stood at USD568.386 billion, while the gold reserves amounted to USD51.14 billion during the cited week, the data showed.
Meanwhile, the Indian rupee fell to its lowest level of 83.43 against the US dollar, due to broad weakness in its Asian peers and the aggressive local demand for the US dollar.
