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India's Foreign Exchange Reserves Rise By $582 Million To Reach Record High Of $542.01 Billion

IANS

Sep 12, 2020, 11:06 AM | Updated 11:06 AM IST

The RBI headquarters in Mumbai. (GettyImages)
The RBI headquarters in Mumbai. (GettyImages)

India's foreign exchange reserves rose by $582 million during the week ended 4 September.

According to the Reserve Bank of India's weekly statistical supplement, the reserves increased to $542.013 billion from $541.431 billion reported for the week ended 28 August.

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 $269 million to $498.362 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. It rose by $321 million to $37.521 billion.

The SDR value inched up by $2 million to $1.482 billion.

However, the country's reserve position with the IMF decreased by $9 million to $4.647 billion.

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


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