India’s Foreign Exchange Reserves Rise By $183 Million To Reach Record High Of $560.715 Billion

India’s Foreign Exchange Reserves Rise By $183 Million To Reach Record High Of $560.715 Billion

Foreign Exchange Reserves Rise

India’s foreign exchange reserves rose $183 million during the week ended 30 October.

According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $560.715 billion from $560.532 billion reported for the week ended 23 October.

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 $815 million to $518.339 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 $601 million to $36.259 billion.

Similarly, the SDR value slipped by 6 million to $1.482 billion, while the country’s reserve position with the IMF declined by $25 million to $4.636 billion.

(With inputs from IANS)

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