New Delhi: For the first time, India’s foreign exchange reserves crossed the half-a-trillion mark after a $8.22 billion surge during the week ending on June 5.
As per the latest Reserve Bank of India (RBI) data, the forex reserves rose to $501.70 billion, thanks to a massive rise in foreign currency assets (FCA), reports The Indian Express.
The week before, forex reserves had increased by $3.44 billion to $493.48 billion.
The gold reserves fell by $329 million to $32.352 billion during the previous week, the RBI reported.
Since Union Finance Minister Nirmala Sitharaman announced a cut in corporate tax rates last September, forex reserves have been rising every week.
Bhubaneswar: Astronaut Sunita Williams feels that residents of planet Earth take small things in life a…
Bhubaneswar: At a time when he should have been grieving the loss of his son, Kailash…
Bhubaneswar: Odisha Chief Minister Mohan Charan Majhi will receive the people's complaints in his grievance…
Mumbai: Actress Radhika Apte, who has been married to British composer Benedict Taylor since 2012,…
Mumbai: Kangana Ranaut’s ‘Emergency’ has finally been passed by the Central Board of Film Certification…
Bhubaneswar: In the wake of some habisyalis staging a protest for being denied free accommodation…
Mumbai: Shah Rukh Khan, the self-made superstar of Bollywood, received the Lifetime Achievement Award at…
Bengaluru: It was a clear error in judgment which resulted in Team India’s ignominous batting show…