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India's forex reserves surge to all-time high of $493.48 billion

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MUMBAI : Jun 5 (PTI) The country's foreign exchange reserves surged USD 3.43 billion to a fresh all-time high of USD 493.48 billion for the week ended May 29 on a handsome accretion of the core currency assets, the Reserve Bank of India (RBI) said on Friday.The reserves, which are counted as a key strength as the country faces the economic impact of the COVID-19 pandemic, had risen by USD 3 billion to an all-time high of USD 490.044 billion in the previous week.During the week ended May 29, foreign currency assets, a major component of the overall reserves, increased by USD 3.50 billion to USD 455.21 billion, data from the RBI showed.Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of.

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