India's Foreign Exchange Reserves Rise By $3.1 Billion To Reach Record High Of $516.36 Billion

Swarajya Staff

Jul 18, 2020, 12:53 PM | Updated 12:54 PM IST

The Reserve Bank of India office in Mumbai. (GettyImages)
The Reserve Bank of India office in Mumbai. (GettyImages)

India's foreign exchange reserves increased by $3.108 billion during the week ended 10 July to reach an all-time high figure of $516.362 billion from $513.254 billion reported for the week ended 3 July, the RBI's weekly statistical supplement said.

India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and India's reserve position with the International Monetary Fund (IMF).

On a weekly basis, FCAs, the largest component of the forex reserves, edged up by $2.372 billion to $475.635 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 $712 million to $34.729 billion.

The special drawing rights with the International Monetary Fund (IMF) rose $5 million to $1.453 billion.

Meanwhile, the country's reserve position with the IMF inched up by $19 million to $4.545 billion.

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