India’s forex reserves rise by over $1 bn to $487 bn

| | Mumbai
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India’s forex reserves rise by over $1 bn to $487 bn

Saturday, 23 May 2020 | IANS | Mumbai

India’s foreign exchange reserves rose by $1.726 billion during the week ended May 15, RBI data showed on Friday. According to the RBI’s weekly statistical supplement, the overall forex reserves increased to $487.039 billion from $485.313 billion reported for the week ended May 8th.

On Friday, while announcing the repo rate cut, RBI Governor Shaktikanta Das said: “India’s foreign exchange reserves have increased by $9.2 billion in 2020-21 so far.

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