India’s forex reserves increases to $367 bn

India’s forex reserves increases to $367 bn

Chennai, Aug 27 (IANS) India’s foreign exchange reserves went up to $367.16 billion as on August 19, the Reserve Bank of India (RBI) said on Saturday.

According to the foreign exchange data released by the RBI, the foreign exchange reserves stood at $367.16 billion as on August 19, as against $365.82 billion as on August 12.

On August 19, the foreign current assets stood at $341.67 billion, gold $21.58 billion, special drawing rights $1.49 billion and the reserve position with the International Monetary Fund (IMF) stood at $2.41 billion.

On the other hand the foreign exchange reserves as on August 12 comprised of foreign currency assets that stood at $340.35 billion, gold $21.58 billion, special drawing rights $1.48 billion and the reserve position with the IMF stood at $2.39 billion.

2 Comments

  1. The very fact that India’s foreign exchange reserves stood at $ 367.16 billion as of 19th August is good and encouraging news.

    We should do everything to increasee our foreign exchage reserves to above $ 1,000 billion in order to have enough funds in the event of any major crisis with the pariah and terrorist state, Pakistan, and the dragon, China, around.

  2. True – we should aim for $1000 billions in foreign reserves. China’s foreign reserves are ten times more than our current reserves!! To be seen as global leader, we need to set our eyes on China and go for massive growth.

    On a different note, our ‘peaceful’ neighbor has less than 10% of India’s reserves. In fact, Bangladesh has more foreign reserves than Pakistan!! LOL LOL Hopefully this doesn’t offend some individuals on this forum and Bakra Dutta media!!

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