Mumbai: The foreign exchange reserves of the country surged by $ 289 million to $ 640.401 billion. The weekly statistical supplement released by the Reserve Bank of India’s (RBI) has revealed this.
The foreign exchange reserves of the country comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).
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Foreign currency assets is the largest component of the forex reserves. It includes the effect of appreciation or depreciation of non-US currencies like the euro, pound, and yen held in the foreign exchange reserves. FCAs surged by $ 225 million to $ 575.712 billion.
The value of the country’s gold reserves gained by $ 152 million to $ 40.391 billion. The SDR value fell by $ 74 million to $ 19.11 billion. The country’s reserve position with the IMF was down by $ 13 million to $ 5.188 billion.
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