India’s Forex Reserves Continue Upward Trajectory, Hit Record High Of $454.94 Billion

India's foreign exchange reserves continued their upward trajectory during the week ended 20 December to touch a new record high.

The Reserve Bank of India's reserves rose by $456 million during the week under review, official data showed on Friday (27 December).

According to the RBI's weekly statistical supplement, the overall forex reserves increased to $454.94 billion from $454.49 billion reported for the week ended 13 December.

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 $311 million to $422.73 billion.

Similarly, the RBI's weekly data showed that the value of the country's gold reserves rose by $164 million to $27.13 billion.

However, the SDR value inched lower by $1 million to $1.44 billion, while the country's reserve position with the IMF decreased by $17 million to $3.64 billion.

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