India’s forex reserves touch new high of $ 551.505 bn

India’s forex as well as gold reserves have surged to soar high even though the country’s economy is passing through a challenging period. Forex reserves of India have jumped to a record 551.505 billion dollars. The country’s gold reserves as well have surged to 36.598 billion dollars in the month of October.

The country’s special drawing rights with IMF also rose marginally by 4 million dollars to 1.480 billion dollars, while reserve position with the IMF also went up by 13 million dollars to 4.644 billion dollars.