India's forex reserves extend gains for third week
Source: Reuters
India’s foreign exchange reserves increased by 2.362 billion US dollars to 703.308 billion dollars in the week ended April 17, according to the weekly bulletin released by the country’s central bank, the Reserve Bank of India, on Friday, News.Az reports, citing Xinhua.
This marks the third consecutive weekly rise in India’s forex reserves. In the previous week, reserves had increased by more than 3.8 billion dollars.
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According to RBI data, the Foreign Currency Assets (FCAs), the largest component of the reserves, rose by 1.481 billion dollars to 557.463 billion dollars.
Gold reserves also increased by 790 million dollars to 122.133 billion dollars during the same period.
By Nijat Babayev
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