Forex reserves rose to 58 586 billion in early January

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Mumbai, Ta. Saturday, January 16, 2021

The new year has seen a steady increase in the country's forex reserves. In the week ended January 9, the forex reserves rose by ૭૫ 2.6 billion to a new high of ૮ 4.04 billion. Earlier, in the week ended January 1, the reserves had increased by ૪ 2.7 billion.

Foreign currency assets, the main component of the forex reserves, rose by ૫ 120 million to 21.2 billion. The country's gold reserves rose by 2.6 billion to ૫૯ 2.3 billion, according to the Reserve Bank.

The Reserve Bank of India (RBI) has said that the forex reserves are likely to cross ડો 200 billion soon, given the influx of foreign investors in the country's capital market.

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