India's Foreign Exchange Reserves Rise By $394 Million To $631.92 Billion
Reserve Bank of India (RBI). (Ramesh Pathania/Mint via Getty Images)India's foreign exchange reserves rose by $394 million during the week ending on 4 March.
According to the Reserve Bank of India's (RBI) weekly statistical supplement, the forex reserves increased to $631.920 billion from $631.526 billion reported for the week ending on 25 February.
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).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $630 million to $565.466 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.
Meanwhile, the value of the country's gold reserves decreased by $147 million to $42.320 billion.
The SDR value decreased by $59 million to $18.981 billion.
Similarly, the country's reserve position with the IMF decreased by $34 million to $5.153 billion.
An Appeal...
Dear Reader,
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.
