India's Foreign Exchange Reserves Rise By $3.618 Billion To Reach Record High Of $545.638 Billion

India’s foreign exchange reserves edged higher by $3.618 billion during the week ended 2 October to reach a record high of $545.638 billion, reports News18.

According to the Reserve Bank of India’s weekly statistical supplement, India's forex reserves rose to $545.638 billion from previous week's $542.02 billion.

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

Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.

The value of the country’s gold reserves increased by $486 million to $36.486 billion.

Meanwhile, India's reserve position with the IMF increased by $23 million to $4.631 billion, and the nation's special drawing rights with the IMF increased marginally by $4 million to $1.476 billion.