India’s forex reserves rise by over $800 mn

Sarkaritel
By Sarkaritel July 24, 2021 07:56

India’s forex reserves rise by over $800 mn


Mumbai, July 23  India’s foreign exchange reserves rose by $835 million during the week ended July 16.

According to the Reserve Bank of India’s (RBI) weekly statistical supplement, the reserves increased to $612.730 billion from $611.895 billion reported for the week ended July 9.

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 $463 million to $568.748 billion.

Similarly, the value of the country’s gold reserves rose by $377 million to $373.33 billion.

The SDR value rose by $1 million to $1.548 billion.

However, the country’s reserve position with the IMF inched lower by $7 million to $5.100 billion.

Sarkaritel
By Sarkaritel July 24, 2021 07:56