India’s Forex Reserves At A Record High Of $490.04 Billion
The country’s foreign exchange reserves have increased by $3.005 billion to an all-time high of $490.044 billion mainly on account of a rise in foreign currency assets, as per RBI data. In the previous week, the reserves had increased by $1.726 billion to $487.04 billion.
Foreign currency assets (FCA), a major component of the overall reserves, increased by $3.035 billion to $451.706 billion in the reporting week, Reserve Bank of India (RBI) data showed.
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.
The gold reserves declined by $127 million to $32.779 billion in the reporting week.
The special drawing rights with the International Monetary Fund (IMF) rose by $8 million to $1.432 billion.
The country’s reserve position with the IMF also rose by $89 million to $4.127 billion during the reporting week, the data showed.