The weekly data released by the Reserve Bank of India has revealed that the foreign exchange reserves of the country has touched a record high. The forex reserve has surged USD 183 million to reach at USD 560.715 billion in the week ended October 30.
The forex reserves has rose due to an increase in foreign currency assets (FCA). FCA is expressed in dollar terms. FCA include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. FCA rose by USD 815 million to USD 518.339 billion.
Meanwhile, the gold reserves declined USD 601 million to USD 36.259 billion. The special drawing rights with the International Monetary Fund (IMF) also decreased USD 6 million to USD 1.482 billion during the week. The country’s reserve position with the IMF also declined by USD 25 million to USD 4.636 billion .