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India's Foreign Exchange Reserves Rise By $3.62 Billion To Record High Of $538.19 Billion
RBI office in Mumbai. (Aniruddha Chowdhury/Mint via Getty Images)
India’s foreign exchange reserves increased by $3.623 billion, during the week ended 7 August.
According to the Reserve Bank of India’s weekly statistical supplement, the reserves grew to $538.191 billion from $534.568 billion reported for the week ended 31 July.
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 $1.464 billion to $492.293 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.
Similarly, the value of the country’s gold reserves increased, but by $2.160 billion to $39.785 billion. The SDR value inched up by $6 million to $1.481 billion.
However, the country’s reserve position with the IMF declined by $7 million to $4.632 billion.
(With inputs from IANS)
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