India’s Forex reserve records all time high

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India’s foreign exchange reserves soared by a massive $ 4.445 billion to a new all-time high of $ 409.366 billion during the week ended December 29, 2017, according to release of the Reserve Bank of India (RBI).

The country’s forex reserves had risen by $ 3.536 billion to $ 404.922 billion during the previous week.

The foreign exchange reserves had crossed $ 400 billion for the first time in September this year and had touched the previous high of $ 402.509 billion, on the back of a rise of $ 1.782 billion, during the week ended September 15. Since then, however, they were fluctuating for some time, but have increased by $ 7.98 billion in the last two weeks.