Mumbai: The foreign exchange reserves of India surged by $6.561 billion to reach $531.081 billion in the week ended October 28. The weekly statistical supplement data released by Reserve Bank of India (RBI) revealed this.
The foreign exchange reserves of the country comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and the country’s reserve position with the International Monetary Fund (IMF). FCA 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.
Also Read: Asian Boxing Championships: Indian boxer Amit Kumar enter quarterfinal
Foreign currency assets (FCA), a major component of the overall reserves, increased by $5.772 billion to $470.847 billion. The value of gold reserves increased from $556 million to $37.762 billion. The Special Drawing Rights were up by $85 million to $17.625 billion. The country’s reserve position with the IMF also climbed by $48 million to $4.847 billion .
Post Your Comments