News Brief
India's Foreign Exchange Reserves Rise By Nearly $6 Billion To Over $578 Billion
Swarajya Staff
Apr 01, 2023, 10:43 AM | Updated 10:43 AM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
In a second consecutive weekly increase, India's foreign exchange reserves rose $5.977 billion to $578.778 billion in the week ended March 24, the Reserve Bank of India said on Friday.
In the previous reporting week, the forex reserves had risen by $12.8 billion to $572.8 billion.
India's foreign exchange reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country's reserve position with the International Monetary Fund (IMF).
For the week ended 24 March, the foreign currency assets (FCAs), a major component of the reserves, increased by $4.38 billion to $509.728 billion, according to the Weekly Statistical Supplement released by the RBI.
Expressed in dollar terms, FCAs include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.
Meanwhile, the value of the country's gold reserves increased by $1.37 billion to $45.48 billion.
The Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) edged higher by $201 million to $18.419 billion.
The country's reserve position with the IMF was also up by $27 million to $5.151 billion in the reporting week, according to the RBI data.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.