India’s Foreign Exchange Reserves Rise By $3.43 Billion To $493.48 Billion

Swarajya Staff

Jun 06, 2020, 05:14 PM | Updated 05:14 PM IST

RBI office in Mumbai. (Aniruddha Chowdhury/Mint via Getty Images)
RBI office in Mumbai. (Aniruddha Chowdhury/Mint via Getty Images)

India's foreign exchange reserves rose by over $3.436 billion during the week ended 29 May.

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $493.480 billion from $490.044 billion reported for the week ended 22 May.

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 higher by $3.503 billion to $455.208 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.

However, the value of the country's gold reserves decreased by $97 million to $32.682 billion.

Besides, the SDR value remained flat at $1.432 billion.

The country's reserve position with the IMF increased by $31 million to $4.158 billion.

(With inputs from IANS)

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