India's foreign exchange reserves rose by $2.563 billion during the week ended 18 December to reach a record high of over $581 billion.
According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $581.131 billion from $578.568 billion reported for the week ended 11 December.
India's forex 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 $1.382 billion to $537.727 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 by $1.008 billion to $37.020 billion.
Besides, the SDR value stood higher by $12 million at $1.515 billion.
In addition, the country's reserve position with the IMF increased by $160 million to $4.870 billion.
(With inputs from IANS)
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.