Forex Reserves Cross $450-Billion Mark For First Time

Foreign exchange reserves continued the upward journey to a new high of $451.7 billion as of December 3, Reserve Bank of India (RBI) Governor Shaktikanta Das said on Thursday.

Since the beginning of the current fiscal year, the forex reserves have gained by $38.8 billion as of December 3, the largest rise in recent years, the RBI Governor added.

The total reserves had risen by $347 million to $448.596 billion in the week to November 22, the last reported number by the RBI.

The reserves have been surging to new highs every week for the last few months.

This is the first time that the forex reserves have crossed the $450 billion mark.