India’s foreign exchange reserves increase by $4.5 billion to $702.28 billion due to the hike in the price of gold.
The RBI announced on Friday that as the value of gold reserves continued to rise, India’s foreign exchange reserves increased by $4.496 billion to $702.28 billion for the week ending October 17. During the last reporting week, the total reserves increased by $2.176 billion to $697.784 billion. Foreign currency assets, a significant part of the…