India’s Foreign Exchange Reserves Rise By $5.69 Billion To Reach Record High Of $487.23 Billion


Mar 14, 2020, 07:50 AM | Updated 07:50 AM IST

The Reserve Bank of India (Credits: Times of India)
The Reserve Bank of India (Credits: Times of India)

India's foreign exchange reserves made healthy gains of $5.69 billion during the week ended 6 March.

According to the RBI's weekly statistical supplement, the overall forex reserves, which are already at a record high, increased to $487.23 billion from $481.54 billion reported for the week ended 28 February.

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, rose by $5.31 billion to $451.13 billion.

Similarly, the value of the country's gold reserves rose. It increased by $320 million to $31 billion.

The SDR value inched-up by $15 million to $1.44 billion, while the country's reserve position with the IMF gained by $50 million to $3.65 billion.

(This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.)

Get Swarajya in your inbox.