India’s Forex Reserves Hit New All-Time High Of 648.7 Billion Dollars

India’s foreign exchange (forex) reserves jumped 4.549 billion dollars to a new all-time high of 648.7 billion dollars for the week ended May 17. This is the third consecutive week of increase in the overall forex kitty.

Gold reserves increased 1.244 billion dollars to 57.195 billion dollars during the week. Special Drawing Rights (SDRs) were up 113 million dollars to 18.168 billion dollars. India’s reserve position with the IMF was down 168 million dollars to 4.327 billion dollars in the reporting week.

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