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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

India’s forex reserves surge by $5.27 bln

Posted on 25 October 2011

India’s foreign exchange reserves surged by $5.27 billion to $317.50 billion for the week ended October 14, one of the sharpest rise in recent months, on the back of huge gain in the value of foreign currency assets, official data showed.

This is the second straight weekly gain in the country’s foreign reserve kitty. The reserves had increased by $749 million in the previous week. Foreign currency assets, the biggest component of the forex reserves kitty, shot up by $5.19 billion to $281.65 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India (RBI)………………………………………Full Article: Source


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