Forex reserves soar by $3bn to $417.789bn

Foreign exchange reserves saw a USD three billion surge to USD 417.789 billion in the week to January 26, the Reserve Bank of India (RBI) stated.

New Delhi: Foreign exchange reserves saw a USD three billion surge to USD 417.789 billion in the week to January 26, the Reserve Bank of India (RBI) stated.

Also Read: Sensex witnesses 530.85-point slump post Budget presentation

The present rise, the RBI claimed, was attributable to the rise in foreign currency assets.

Over the past four-odd weeks, foreign exchange reserves have been rallying continuously, following a temporary dip in October.

Earlier, foreign exchange reserves registered a new high of USD 414.784 billion in the week to January 19.

Also Read: 'Government doesn't consider crytocurrencies as legal tender': Jaitley

Meanwhile, the RBI said gold reserves remained unchanged at 20.421 billion dollars. (ANI)