The foreign exchange reserves of India has rose by over US Dollar 3 billion during the week ended 22 May. This was informed by Reserve Bank of India (RBI).
India’s Forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India’s reserve position with the International Monetary Fund (IMF). Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
As per RBI’s weekly statistical supplement, the overall Forex reserves increased to US Dollar 490.044 billion from US Dollar 487.039 billion reported for the week ended 15 May. On a weekly basis, FCAs, the largest component of the Forex reserves, edged higher by US Dollar 3.035 billion to US Dollar 451.706 billion.
However, the value of the country’s gold reserves decreased by US Dollar 127 million to US Dollar 32.779 billion. The SDR value inched up by US Dollar 8 million to US Dollar 1.432 billion. The country’s reserve position with the IMF increased by US Dollar 89 million to US Dollar 4.12 billion.
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