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India's Foreign Exchange Reserves Rise By $2.29 Billion To $537.54 Billion
RBI office in Mumbai. (Aniruddha Chowdhury/Mint via Getty Images)
India’s foreign exchange reserves jumped higher by $2.296 billion, during the week ended 21 August.
According to the Reserve Bank of India’s weekly statistical supplement, the reserves rose to $537.548 billion from $535.252 billion reported for the week ended 14 August.
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 $2.618 million to $494.168 billion.
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.
However, the value of the country’s gold reserves fell by $331 million to $37.264 billion.
The SDR value rose by $2 million to $1.481 billion.
In addition, the country’s reserve position with the IMF increased by $6 million to $4.634 billion.
(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)
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