India’s forex reserves rise by over $1.8 bn

Sarkaritel
By Sarkaritel July 17, 2021 12:57

India’s forex reserves rise by over $1.8 bn


Mumbai, July 16  India’s foreign exchange reserves rose by $1.883 billion during the week ended July 9.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $611.895 billion from $610.012 billion reported for the week ended July 2.

India’s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.297 billion to $568.285 billion.

Similarly, the value of the country’s gold reserves rose by $584 million to $36.956 billion.

However, the SDR value remained stagnant at $1.547 billion.

In addition, the country’s reserve position with the IMF inched up by $3 million to $5.107 billion.

Sarkaritel
By Sarkaritel July 17, 2021 12:57