India's forex reserves touches to $262.306 billion

Indian economy has been recovering from the clutches of the global slowdown as the India’s forex reserves rose by $1.667 billion for the week ended May 29. The total forex reserves of India touched to the tune of $262.306 billion.

There has been fluctuation in the forex reserves of India due the global slowdown. Experts believe that the appreciation and depreciation of the US dollar will have impact on the forex reserves of India. India’s gold reserves went up to $9.604 billion for the week ended May 29, while it was at $9.231 billion in the previous week.