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India’s Forex Reserves Jump $5.65 Billion To Reach A Figure Of $475.65 Billion
Rupee and dollar notes (representative image)
In a vital development, nation's forex reserves surged by $5.65 billion in the week ending 27 March, reports Business Standard.
This may act as a cushion for the Indian economy which is bracing against a nationwide halt of economic activity owing to the 21-days-long lockdown imposed to contain the spread of Novel Coronavirus (COVID-19).
Meanwhile, the nation's gold reserves also witnessed a jump, rising from $27.86 billion in the previous week to a figure of $30.89 billion.
It should be noted that the nation's forex reserves have increased by a spectacular $62.69 billion since March 2019, sustaining the momentum achieved in the previous fiscal when the figure had witnessed a jump of $ 63,66 billion.
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