Forex reserves near record high, jump $563 million to $590.028 billion
The country's foreign exchange reserves rose by USD 563 million to reach USD 590.028 billion in the week ended May 14, RBI data showed on Friday. The reserves had touched a lifetime high of USD 590.185 billion in the week ended January 29, 2021. In the previous week ended May 7, 2021, the reserves had increased by USD 1.444 billion to USD 589.465 billion. During the reporting week ended May 14, 2021, the rise in the forex kitty was mainly on account of an increase in foreign currency assets (FCA), a major component of the overall reserves. FCAs jumped by USD 377 billion to USD 546.87 bil...
Source: business-standard.com