India’s foreign exchange reserves rise by over $5 billion

India’s foreign exchange reserves rise by over $5 billion

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Mumbai: India’s foreign exchange reserves rose $5.867 billion during the week ended October 9.

According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $551.505 billion from $545.638 billion reported for the week ended October 2.

India’s forex reserves comprise of 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 $5.737 billion to $508.783 billion.

Similarly, the value of the country’s gold reserves increased. It rose by $113 million to $36.598 billion.

Besides, the SDR value was up by $4 million to $1.480 billion.

Additionally, the country’s reserve position with the IMF increased by $13 million to $4.644 billion.

20200221101654 India's foreign exchange reserves rise by over $5 billion
Original news source Credit: gulfnews.com



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