India's Foreign Exchange Reserves Rise By $1.919 Billion To $642.019 Billion
India's Foreign Exchange Reserves Rise By $1.919 Billion To $642.019 BillionRBI headquarters in Mumbai. (INDRANIL MUKHERJEE/AFP/Getty Images)

India's foreign exchange reserves rose by $1.919 billion during the week ending on 29 October.

According to the Reserve Bank of India's (RBI) weekly statistical supplement, the reserves increased to $642.019 billion from $640.1 billion reported for the week ended 22 October.

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 $1.363 billion to $578.462 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 gained by $572 million to $39.012 billion.

However, the SDR value decreased by $127 million to $19.304 billion.

Meanwhile, the country's reserve position with the IMF inched higher by $1 million to $5.242 billion.

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