India's forex reserves rise to 658.8 bln USD
India's foreign exchange (forex) reserves rose by 4.529 billion U.S. dollars to 658.8 billion dollars during the week ended March 21, showed the official data released by the country's central bank, the Reserve Bank of India (RBI), on Friday, Xinhua reports.
This was the third consecutive week India's forex reserves had risen. The forex reserves had risen by nearly 15.6 billion dollars in the prior two weeks.
The RBI's data also revealed that the foreign currency assets (FCAs) rose by 1.669 billion dollars to 558.856 billion dollars.
According to the RBI, the special drawing rights (SDRs) fell by 22 million dollars to 18.24 billion dollars, and the country's reserve position in the International Monetary Fund decreased by 2 million dollars to 4.429 billion dollars.
Earlier, it was reported that India is set to become the world’s leading web3 developer hub by 2028.
